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A NOTE ON “MONEY IS MEMORY“: A COUNTEREXAMPLE.
- Source :
- Macroeconomic Dynamics; Mar2017, Vol. 21 Issue 2, p545-553, 9p
- Publication Year :
- 2017
-
Abstract
- A counterexample to the notion that money is memory is provided—one that relies on incomplete information. There exists an implementable allocation for it with money that is not implementable with memory. The result arises because money conveys only a limited amount of information about past actions, which can be beneficial in settings with incomplete information. [ABSTRACT FROM AUTHOR]
Details
- Language :
- English
- ISSN :
- 13651005
- Volume :
- 21
- Issue :
- 2
- Database :
- Complementary Index
- Journal :
- Macroeconomic Dynamics
- Publication Type :
- Academic Journal
- Accession number :
- 121327574
- Full Text :
- https://doi.org/10.1017/S1365100515000541