Show simple item record

dc.contributor.authorEkeland, Ivar
dc.date.accessioned2010-03-15T11:06:54Z
dc.date.available2010-03-15T11:06:54Z
dc.date.issued2010
dc.identifier.urihttps://basepub.dauphine.fr/handle/123456789/3682
dc.language.isoenen
dc.subjectInterest Ratesen
dc.subjectClimate Changeen
dc.subjectLong-Term Policy Makingen
dc.subjectGrowth Modelsen
dc.subject.ddc332en
dc.subject.classificationjelQ56en
dc.subject.classificationjelQ54en
dc.subject.classificationjelE43en
dc.titleDiscounting the Future: the Case of Climate Changeen
dc.typeDocument de travail / Working paper
dc.description.abstractenAccording to the Stern Report on climate change, the course of the next fifty years is set: present policies will impact only in the very long term, fifty to two hundred years from now. There is no market for interest rates, so far into the future, and economists must find other ways to set interest rates in a coherent way. This paper reviews some of the methods which have been used. We start with the classical Ramsey model of economic growth, which remains a central reference in the current debate, and we study the determinants of the interest rate in that framework. We then adapt the model (and the results) to take into account various concerns, namely (a) the existence of the environment as a distinct, non-producible good, (b) uncertainty on the parameters or on the model (c) intergenerational equity.en
dc.publisher.nameUniversité Paris-Dauphine
dc.publisher.cityParis
dc.identifier.citationpages31en
dc.relation.ispartofseriestitleCahiers de la Chaire Finance et Développement Durableen
dc.relation.ispartofseriesnumber27en
dc.description.sponsorshipprivateouien
dc.subject.ddclabelEconomie financièreen


Files in this item

Thumbnail

This item appears in the following Collection(s)

Show simple item record