This paper reviews important approaches to discounting in economic modelling. It summarizes historical approaches and discusses why exponential discounting has been adopted as a widely accepted benchmark. The article then presents hyperbolic discounting as an alternative, while stresses...

This article focuses on applied general equilibrium models and explores main features of these models. Examples of successful applications of these models are demonstrated and appropriateness of the applied computable general equilibrium models in policy evaluation is assessed. Conditions of...

This paper is focused on the theory of optimal taxation applied to environmental regulation. The first part summarizes the current state of knowledge in this field, especially it concentrates on the so called double dividend hypothesis. The second part of the paper defines the concept of triple...