Giglio, Stefano; Maggiori, Matteo; Stroebel, Johannes; … - 2015
accrue and the riskiness of the investment. In this paper, we estimate the term structure of discount rates for an important … discount rates for investments in climate change abatement that reduce aggregate risk, as in disasterrisk models, are bounded … rules out many discount rates suggested in the literature and used by policymakers. Our framework also distinguishes between …