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| Smith, Kathryn. |
| Discounting the distant future has periodically been a controversial topic in welfare economics but the evaluation of climate change policy and particularly the Stern Review have given the debate a new relevance. The parameters in a standard social welfare function that determine the path for the discount rate are also important in determining the time path of saving, and several prominent economists have criticised the values used in the Review specifically because they imply excessively high optimal saving rates, from either a positive or normative perspective. The fact that near-zero rates of pure time preference do not necessarily lead to absurdly high saving rates has been known for some time. However, in the context of climate change policy, this... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Productivity Analysis; Environmental Economics and Policy. |
| Ano: 2009 |
URL: http://purl.umn.edu/47619 |
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| Smith, Kathryn. |
| * The current version of this paper was prepared with the support of the Australian Department of Climate Change and the Environmental Economics Research Hub at the Australian National University. Earlier versions were submitted to the London School of Economics and Political Science in partial completion of the MSc in Environment and Development, and to the 2009 annual conference of the Australian Agricultural and Resource Economics Society (AARES). The author is extremely grateful to Simon Dietz and the Commonwealth Scholarship Commission for supervision and funding of the MSc, respectively, and to Steve Hatfield-Dodds, Frank Jotzo, Jack Pezzey, Matthew Skellern, Daniel Veryard, and participants in seminars at the AARES conference, the Department of... |
| Tipo: Report |
Palavras-chave: Climate economics; Integrated assessment models; Economic models; Social costs.; Environmental Economics and Policy; Research Methods/ Statistical Methods; Resource /Energy Economics and Policy. |
| Ano: 2009 |
URL: http://purl.umn.edu/94888 |
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