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Discounting and climate policy
Ploeg, Frederick van der - 2020
The social rate of discount is a crucial driver of the social cost of carbon (SCC), i.e. the expected present discounted value of marginal damages resulting from emitting one ton of carbon today. Policy makers should set carbon prices to the SCC using a carbon tax or a competitive permits...
Persistent link: https://www.econbiz.de/10012249287
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The consumption discount rate for the distant future (if we do not die out)
Vermeylen, Koen - 2013
Gollier and Weitzman (2010) show that if future consumption discount rates are uncertain and persistent, the consumption discount rate should decline to its lowest possible value for events in the most distant future. In this paper, I argue that the lowest possible growth rate of consumption per...
Persistent link: https://www.econbiz.de/10010227389
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Discounting environmental benefits for future generations
Liu, Liqun; Rettenmaier, Andrew J.; Saving, Thomas R. - In: Public finance review : PFR 49 (2021) 1, pp. 41-70
Persistent link: https://www.econbiz.de/10012426295
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Relative prices and climate policy : how the scarcity of non-market goods drives policy evaluation
Drupp, Moritz A.; Hänsel, Martin C. - 2020
Climate change not only impacts production and market consumption, but also the relative scarcity of non-market goods, such as environmental amenities. We study fundamental drivers of the resulting relative price changes, their potential magnitude, and their implications for climate policy in...
Persistent link: https://www.econbiz.de/10012154637
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Relative prices and climate policy : how the scarcity of non-market goods drives policy evaluation
Drupp, Moritz A.; Hänsel, Martin C. - 2018 - This version: January 31, 2018
We study how the scarcity of non-market goods, such as environmental amenities, affects the economic appraisal of climate policy. To this end, we perform a comprehensive analysis of the change in relative prices of non-market goods in the widespread climate-economy model DICE. We show that DICE...
Persistent link: https://www.econbiz.de/10011787199
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Zero discounting can compensate future generations for climate damage
Davidson, Marc David - In: Ecological economics : the transdisciplinary journal of … 105 (2014), pp. 40-47
Persistent link: https://www.econbiz.de/10010493290
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Hyperbolic discounting and the time-consistent solution of three canonical environmental problems
Strulik, Holger - 2017
In this paper I propose a time-consistent method of discounting hyperbolically and apply it to three canonical … then compare results with those for conventional exponential discounting using the normalization that both methods provide …, time-consistent hyperbolic discounting leads always to a steady state of maximum yield, or, if the environment enters the …
Persistent link: https://www.econbiz.de/10011742760
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Hyperbolic discounting and the time-consistent solution of three canonical environmental problems
Strulik, Holger - 2017
In this paper I propose a time-consistent method of discounting hyperbolically that contains the discount rate implied … by Gamma discounting as a special case. I apply the discounting method to three canonical environmental problems: (i … with those for conventional exponential discounting using the normalization that both methods provide the same present …
Persistent link: https://www.econbiz.de/10011706020
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Hyperbolic Discounting of Public Goods
Viscusi, W. Kip - 2012
thereafter, which is inconsistent with exponential discounting but consistent with hyperbolic discounting. The implied marginal … rate of time preference declines and then rises. Estimates of the quasi-hyperbolic discounting parameter range from 0.48 to …
Persistent link: https://www.econbiz.de/10012713232
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Dynamic cost-benefit analysis of large projects : the role of capital costs
Li, Chuan-Zhong; Löfgren, Karl-Gustaf - 2010
This paper derives a dynamic cost-benefit rule for evaluating large projects.We show that, in addition to the conventional income and consumer surplus measures, the rule also entails an extra term involving capital cost changes. -- cost-benefit rule ; large project ; capital cost
Persistent link: https://www.econbiz.de/10008656697