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On the underestimation of the precautionary effect in discounting
Gollier, Christian - 2011
Using the extended Ramsey rule, the socially efficient rate is the difference between a wealth effect and a precautionary effect of economic growth. This second effect is increasing in the degree of uncertainty affecting the future. In the literature, it is usually calibrated by estimating the...
Persistent link: https://www.econbiz.de/10010277368
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Public providers, versus private providers, of public goods: A general equilibrium study of the role of the state
Economides, George; Philippopoulos, Apostolis; … - 2011
This paper studies the difference between public production and public finance of public goods in a dynamic general equilibrium setup. By public finance, we mean that the public good is produced by private providers with the government financing their costs. When the model is calibrated to match...
Persistent link: https://www.econbiz.de/10010277041
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Public providers, versus private providers, of public goods : a general equilibrium study of the role of the state
Oikonomidēs, Geōrgios; Philippopulos, Apostolēs; … - 2011
This paper studies the difference between public production and public finance of public goods in a dynamic general equilibrium setup. By public finance, we mean that the public good is produced by private providers with the government financing their costs. When the model is calibrated to match...
Persistent link: https://www.econbiz.de/10009130257
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Ramsey discounting calls for subtracting climate damages from economic growth rates
Kelleher, J. Paul; Wagner, Gernot - In: Applied economics letters 26 (2019) 1, pp. 79-82
Persistent link: https://www.econbiz.de/10012204133
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Government size and economic growth in an endogenous growth model with rent-seeking
Wadho, Waqar; Ayaz, Umair - 2017
capital and an unproductive capital which facilitates rent-seeking. With exogenous as well as endogenous time discounting, we …) discounting, there is a unique low (high) growth equilibrium, regardless of the size of government. For the intermediate range of … discounting, there are multiple equilibria and the growth outcome depends on the size of government. With endogenous time …
Persistent link: https://www.econbiz.de/10012120573
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Endogenous discounting and climate policy
Tsur, Yaʿaḳov; Zemel, Amos - In: Environmental & resource economics : the official … 44 (2009) 4, pp. 507-520
Persistent link: https://www.econbiz.de/10003939013
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Ramsey Discounting Calls for Subtracting Climate Damages from Economic Growth Rates
Kelleher, J. Paul - 2017
central recommendation and illustrative example conflates the two. The correct, consumption-based discounting method generally …
Persistent link: https://www.econbiz.de/10012951841
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Discounting as a double-edged sword : the values of both future goods and present economic growth decrease with the discount rate
Lampert, Adam - In: Journal of environmental economics and policy 10 (2021) 1, pp. 43-53
Persistent link: https://www.econbiz.de/10012440131
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Economic growth and climate change : many trajectories, many destinations
Steger, Thomas M.; Trimborn, Timo - 2024
To gain insights into the mechanisms that shape the interaction between economic growth and climate change, we analyze the simplified DICE through the lens of growth theory. We analytically show that this model exhibits a continuum of saddle-point stable steady states, a property that carries...
Persistent link: https://www.econbiz.de/10014514947
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Discounting an uncertain future
Gollier, Christian - 1997
We discuss the selection of the socially optimal discount rate for public investment projects that entail costs and benefits in the very long run. More specifically, we examine in an expected utility framework how the uncertainty on the growth rate of the GNP per head affects this rate. Under...
Persistent link: https://www.econbiz.de/10011608349