Nearly all discussions about the appropriate consumption discount rate for climate-change policy evaluation assume that a single discount rate concept applies. 23 Jan 2016 This column presents estimates of appropriate discount rates for very long time horizons. The long-run discount rate for one important risky asset  to select very different discount rates for the cost-benefit analysis of climate change. This seemingly small matter is of great practical importance. Nicholas Stern  11 Aug 2014 The discount rate weighs future people's benefits against costs borne by present people. It is the key to understanding action on climate change 

Hilary Greaves' has written a review article (for WIREs Climate Change) that examines discussions in economics and moral philosophy of the discount rate, with 

Choosing an appropriate rate is also highlighted by recent debates on the economics of climate change. The choice of an appropriate social discount rate for  The discount rate is a rate used to convert future economic value into present Economists assume that today's investments and technical change will produce  7 May 2018 using their offers to calculate a simple discount rate for future effort, which can be tied to a discussion of the economics of climate change. 7 Mar 2017 these countries, the discount rate applied to costs and benefits in the distant appropriate “interest rate” to discount climate change projects.

Consider: If we have a discount rate of 3 percent — which is a fairly representative rate in economics — and we face $100 of climate damages in 2100 (roughly 87 years from now), it is worth

Using this discount rate would spur climate change mitigation efforts in the near-term, but causes other problems; specifically, it raises the question of why should the 10-year "risk-free" be While some of the costs of climate change won’t be incurred for centuries, the actions to mitigate them need to be taken today. Over such a long timespan, small changes in discount rates can drastically change the attractiveness of such investments. This column presents estimates of appropriate discount rates for very long time horizons. The long-run discount rate for one Individual Discount Rates and Climate Change: Is Discount Rate Associated With Support for a Carbon Tax David Amdur, Donald J Dale , Christopher Borick, Barry G. Rabe Managerial Economics, Decision Sciences and Operations The Choice of Discount Rate for Climate Change Policy Evaluation Lawrence H. Goulder, Roberton C. Williams III. NBER Working Paper No. 18301 Issued in August 2012 NBER Program(s):Environment and Energy Program, Public Economics Program Nearly all discussions about the appropriate consumption discount rate for climate-change policy evaluation assume that a single discount rate concept applies. Even with the disagreement over discount rates, there is a consensus among climate economists that climate change will have significant economic impacts in the near future, that those impacts will harm the U.S. economy across a variety of sectors, and that the U.S. needs to take action to reduce greenhouse gas emissions.

4 Centre of Climate Change Economics and Policy and Grantham Research Institute Discount Rate (SDR) an estimate of how society values consumption at 

The Choice of Discount Rate for Climate Change Policy Evaluation Lawrence H. Goulder, Roberton C. Williams III. NBER Working Paper No. 18301 Issued in August 2012 NBER Program(s):Environment and Energy Program, Public Economics Program Nearly all discussions about the appropriate consumption discount rate for climate-change policy evaluation assume that a single discount rate concept applies. Even with the disagreement over discount rates, there is a consensus among climate economists that climate change will have significant economic impacts in the near future, that those impacts will harm the U.S. economy across a variety of sectors, and that the U.S. needs to take action to reduce greenhouse gas emissions. This article used evidence from tourists’ willingness to pay (WTP) for a set of climate change adaptation policies to estimate implicit discount rates under different discounting structures. Higher values also indicate a negative impact of climate change on the future GDP projections of nation states, hence acting on climate change is incentivising nations by insuring their future GDP against the perils of climate change. But for arriving at a social cost of carbon we need to consider what is called an optimal ‘rate of discount.’ Determinants of Social Discount Rate, general case The Economics of Climate Change –C 175 The resulting equation r = ρ+ θg is known as the “Ramsey equation” after Frank Ramsey (1928) The equatition stttates th tthat in an opti ltimal itt lintertemporalall tillocation:

the economics of climate change: (1) the dis-count rate we choose is all important and Stern’s results come from choosing a very low discount rate; (2) we are a lot less sure about core elements of discounting for climate change than we commonly acknowledge because critical puzzles, projections, and ambiguities are yet unresolved; (3) standard

23 Jan 2016 This column presents estimates of appropriate discount rates for very long time horizons. The long-run discount rate for one important risky asset  to select very different discount rates for the cost-benefit analysis of climate change. This seemingly small matter is of great practical importance. Nicholas Stern  11 Aug 2014 The discount rate weighs future people's benefits against costs borne by present people. It is the key to understanding action on climate change 

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