Freeman, Mark C.; Groom, Ben; Panopoulou, Ekaterini; … - Grantham Research Institute on Climate Change and the … - 2013
Uncertain, yet persistent, real rates of return to capital underpin one argument for using a declining schedule of social discount rates. Yet persistency is only present in approximately the first three-quarters of the time-series of US Treasury bond yields used by Newell and Pizer [37] to...