<p>It stands for I-Owe-You. As in a promise. </p>

CC BY-SA 3.0
2015-03-04T23:09:01.013Z
2015-03-04T23:09:01.013Z
BKay
<p>I'm reading a paper right now that refers to divisible and one-period IOUs, but doesn't explain what the shorthand stands for.</p>

<p>I understand it's a unit of payment, and guess that is the same "thing" cashless NeoKeynesian models use. Am I correct? What does IOU stand for? Are there any other relevant properties/definitions I need to be aware of? </p>

<academic-graduate><money>
What is an IOU?
FooBar
# What is an IOU?

(Asked by: username_0 on 2015-03-04)

I'm reading a paper right now that refers to divisible and one-period IOUs, but doesn't explain what the shorthand stands for.

I understand it's a unit of payment, and guess that is the same "thing" cashless NeoKeynesian models use. Am I correct? What does IOU stand for? Are there any other relevant properties/definitions I need to be aware of?

**Tags:** academic-graduate, money


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## 1 answers

### Answer by username_1 on 2015-03-04. Score: 7 | Accepted answer

It stands for I-Owe-You. As in a promise.


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