Before revision:  More importantly, by establishing an approximation scheme for the good (or bad) memory of investors on the historical market information, we conclude that the good /bad memory would increase /decreaseboth real stock returns and interest rates while the equilibrium balances the economy by preventing investors from benefiting the memory .
After revision:  More importantly, by establishing an approximation scheme for the good (or bad) memory of investors on the historical market information, we conclude that good (bad) memory would increase /decreaseboth real stock returns and interest rates while the equilibrium balances the economy by preventing investors from benefiting the memory .