Who among the following economists considered the rate of interest to influence the transaction demand…

W. J. Baumol (1952), in his inventory-theoretic approach, showed that the transactions demand for money depends on the rate of interest as well as income: holding cash means giving up interest, so people hold less of it when interest rates rise. Keynes treated transactions demand as depending on income alone, and Fisher's quantity theory linked money to the volume of transactions, not to the interest rate.