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Intergenerational Equity And The Social Discount Rate
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Book Synopsis Discounting and Intergenerational Equity by : Paul R. Portney
Download or read book Discounting and Intergenerational Equity written by Paul R. Portney and published by Routledge. This book was released on 2013-10-18 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt: The full effects of decisions made today about many environmental policies -including climate change and nuclear waste- will not be felt for many years. For issues with long-term ramifications, analysts often employ discount rates to compare present and future costs and benefits. This is reasonable, and discounting has become a procedure that raises few objections. But are the methods appropriate for measuring costs and benefits for decisions that will have impacts 20 to 30 years from now the right ones to employ for a future that lies 200 to 300 years in the future? This landmark book argues that methods reasonable for measuring gains and losses for a generation into the future may not be appropriate when applied to a longer span of time. Paul Portney and John Weyant have assembled some of the world's foremost economists to reconsider the purpose, ethical implications, and application of discounting in light of recent research and current policy concerns. These experts note reasons why conventional calculations involved in discounting are undermined when considering costs and benefits in the distant future, including uncertainty about the values and preferences of future generations, and uncertainties about available technologies. Rather than simply disassemble current methodologies, the contributors examine innovations that will make discounting a more compelling tool for policy choices that influence the distant future. They discuss the combination of a high shout-term with a low long-term diescount rate, explore discounting according to more than one set of anticipated preferences for the future, and outline alternatives involving simultaneous consideration of valuation, discounting and political acceptability.
Book Synopsis The Social Discount Rate by : Humberto Lopez
Download or read book The Social Discount Rate written by Humberto Lopez and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The social discount rate measures the rate at which a society would be willing to trade present for future consumption. As such it is one of the most critical inputs needed for cost-benefit analysis. This paper presents estimates of the social discount rates for nine Latin American countries. It is argued that if the recent track record in terms of growth in the region is indicative of future performance, estimates of the social discount rate would be in the 3-4 percent range. However, to the extent that the region improves on its past performance, the social discount rate to be used in the evaluation of projects would increase to the 5-7 percent range. The paper also argues that if the social planner gives a similar chance to the low and high growth scenario, the discount rate should be dependent on the horizon of the project, declining from 4.4 percent for a 25-year horizon to less than 4 percent for a 100-year horizon.
Book Synopsis Cost-Benefit Analysis and the Environment Recent Developments by : OECD
Download or read book Cost-Benefit Analysis and the Environment Recent Developments written by OECD and published by OECD Publishing. This book was released on 2006-01-30 with total page 318 pages. Available in PDF, EPUB and Kindle. Book excerpt: An in-depth assessment of the most recent conceptual and methodological developments in cost-benefit analysis and the environment.
Book Synopsis Discounting and Intergenerational Equity by : Paul R. Portney
Download or read book Discounting and Intergenerational Equity written by Paul R. Portney and published by Routledge. This book was released on 2013-10-18 with total page 199 pages. Available in PDF, EPUB and Kindle. Book excerpt: The full effects of decisions made today about many environmental policies -including climate change and nuclear waste- will not be felt for many years. For issues with long-term ramifications, analysts often employ discount rates to compare present and future costs and benefits. This is reasonable, and discounting has become a procedure that raises few objections. But are the methods appropriate for measuring costs and benefits for decisions that will have impacts 20 to 30 years from now the right ones to employ for a future that lies 200 to 300 years in the future? This landmark book argues that methods reasonable for measuring gains and losses for a generation into the future may not be appropriate when applied to a longer span of time. Paul Portney and John Weyant have assembled some of the world's foremost economists to reconsider the purpose, ethical implications, and application of discounting in light of recent research and current policy concerns. These experts note reasons why conventional calculations involved in discounting are undermined when considering costs and benefits in the distant future, including uncertainty about the values and preferences of future generations, and uncertainties about available technologies. Rather than simply disassemble current methodologies, the contributors examine innovations that will make discounting a more compelling tool for policy choices that influence the distant future. They discuss the combination of a high shout-term with a low long-term diescount rate, explore discounting according to more than one set of anticipated preferences for the future, and outline alternatives involving simultaneous consideration of valuation, discounting and political acceptability.
Author :National Academies of Sciences, Engineering, and Medicine Publisher :National Academies Press ISBN 13 :0309454204 Total Pages :281 pages Book Rating :4.3/5 (94 download)
Book Synopsis Valuing Climate Damages by : National Academies of Sciences, Engineering, and Medicine
Download or read book Valuing Climate Damages written by National Academies of Sciences, Engineering, and Medicine and published by National Academies Press. This book was released on 2017-06-23 with total page 281 pages. Available in PDF, EPUB and Kindle. Book excerpt: The social cost of carbon (SC-CO2) is an economic metric intended to provide a comprehensive estimate of the net damages - that is, the monetized value of the net impacts, both negative and positive - from the global climate change that results from a small (1-metric ton) increase in carbon-dioxide (CO2) emissions. Under Executive Orders regarding regulatory impact analysis and as required by a court ruling, the U.S. government has since 2008 used estimates of the SC-CO2 in federal rulemakings to value the costs and benefits associated with changes in CO2 emissions. In 2010, the Interagency Working Group on the Social Cost of Greenhouse Gases (IWG) developed a methodology for estimating the SC-CO2 across a range of assumptions about future socioeconomic and physical earth systems. Valuing Climate Changes examines potential approaches, along with their relative merits and challenges, for a comprehensive update to the current methodology. This publication also recommends near- and longer-term research priorities to ensure that the SC- CO2 estimates reflect the best available science.
Book Synopsis A Theory of Intergenerational Justice by : Joerg Chet Tremmel
Download or read book A Theory of Intergenerational Justice written by Joerg Chet Tremmel and published by Earthscan. This book was released on 2009-12 with total page 281 pages. Available in PDF, EPUB and Kindle. Book excerpt: This highly accessible book provides an extensive and comprehensive overview of current research and theory about why and how we should protect future generations. It exposes how and why the interests of people today and those of future generations are often in conflict and what can be done. It rebuts critical concepts such as Parfits' non-identity paradox and Beckerman's denial of any possibility of intergenerational justice. The core of the book is the lucid application of a veil of ignorance to derive principles of intergenerational justice which show that our duties to posterity are stronger than is often supposed. Tremmel's approach demands that each generation both consider and improve the well-being of future generations. To measure the well-being of future generations Tremmel employs the Human Development Index rather than the metrics of utilitarian subjective happiness. The book thus answers in detailed, concrete terms the two most important questions of every theory of intergenerational justice: what to sustain? and how much to sustain?
Book Synopsis Man-Made Climate Change by : Olav Hohmeyer
Download or read book Man-Made Climate Change written by Olav Hohmeyer and published by Physica. This book was released on 1999 with total page 420 pages. Available in PDF, EPUB and Kindle. Book excerpt: As the Kyoto conference of the parties on the United Nations Framework Convention on Climate Change once again underscored, man-made climate change has become one of the major challenges to our generation and many generations to come. Since scientific evidence on climate change can be seen as increasingly reliable, the focus of our attention has to turn more and more to the question of foreseeable damages and to possibilities to prevent and mitigate climate change. In other words, we need to analyse the economic aspects of man marle climate change and the policy options to prevent its most severe impacts. This book reports on the findings of an international workshop on these aspects of global climate change. It was organised by the Centre for European Economic Research (ZEW) in Mannheim, Germany on March 6th and 7th 1997. In the light of the ongoing international policy-making process on climate change, we decided to publish the report after the Kyoto conference from December Ist to 10th, 1997, to include the results of the conference, which emphasise the importance of economic aspects and economic policy options when it comes to addressing the problern of man-made climate change. Thus, this book went to press in February 1998 the moment we received the official version of the Kyoto Protocol, which is reproduced in the annex.
Book Synopsis Discounting for Time and Risk in Energy Policy by : Robert C. Lind
Download or read book Discounting for Time and Risk in Energy Policy written by Robert C. Lind and published by Routledge. This book was released on 2013-10-18 with total page 476 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a collection of theoretical papers, including contributions by Partha Dasgupta and three Nobel prize-winning economists: Kenneth Arrow, Amartya Sen, and Joseph Stiglitz. Originally published in 1982.
Book Synopsis Pricing the Planet's Future by : Christian Gollier
Download or read book Pricing the Planet's Future written by Christian Gollier and published by Princeton University Press. This book was released on 2013 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: Today, the judge, the citizen, the politician, and the entrepreneur are concerned with the sustainability of our development.
Book Synopsis Social, Economic, and Environmental Impacts Between Sustainable Financial Systems and Financial Markets by : Ziolo, Magdalena
Download or read book Social, Economic, and Environmental Impacts Between Sustainable Financial Systems and Financial Markets written by Ziolo, Magdalena and published by IGI Global. This book was released on 2019-10-25 with total page 383 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sustainable development is necessary to counteract and mitigate the impact of socially harmful forces in a globalized world. However, sustainable development and its organizations must ensure the effective management of their funds and beneficial financial frameworks in order to best realize their sustainable goals. There is a need for studies that seek to understand how to connect sustainable development and the financial world in order to maximize the economic and environmental wellbeing of the world. Social, Economic, and Environmental Impacts Between Sustainable Financial Systems and Financial Markets is a pivotal reference source that examines the funding and monetary utilization of environmental and socially-responsible entities. Featuring research on topics such as green taxes, intergenerational equity, and shadow economy, this book is ideally designed for government officials, policymakers, economists, financial managers, sustainability developers, and academicians seeking current research on the relationship between new sustainable financial phenomena and negative global externalities.
Book Synopsis Contemporary Economic Issues: Economic behaviour and design by : International Economic Association. World Congress
Download or read book Contemporary Economic Issues: Economic behaviour and design written by International Economic Association. World Congress and published by . This book was released on 1998 with total page 261 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a guide to the experience of economic reform since the Second World War and system reform and economic integration across the world in the past decade. The first part of the book examines why only a small number of developing countries succeeded in their modernization attempts this century; the very different experiences of the transition to market economies in Eastern Europe and China is the focus of the next section; and the effects of economic integration schemes are examined in the final section.
Book Synopsis Economics and the Future by : Pannell, D.J.
Download or read book Economics and the Future written by Pannell, D.J. and published by Edward Elgar Publishing. This book was released on 2006-06-27 with total page 197 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economics and the Future tackles the discounting issue from a number of angles, ranging from relatively short-term private financial decisions, to very long-term public issues spanning generations. The authors present differing perspectives and original ideas in a style that remains accessible while addressing some of the more difficult questions about discounting in theory and practice. It reveals that the economic issues regarding time are embedded in a broader social, ethical and philosophical context.
Book Synopsis The Economics of Global Warming by : William R. Cline
Download or read book The Economics of Global Warming written by William R. Cline and published by Peterson Institute. This book was released on 1992 with total page 462 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examines the costs and benefits of an aggressive program of global action to limit the greenhouse effect. Cline summarizes the issues from the standpoint of an economist and estimates the damages of long-term warming.
Book Synopsis Climate Justice by : S. M. Ravi Kanbur
Download or read book Climate Justice written by S. M. Ravi Kanbur and published by . This book was released on 2019 with total page 277 pages. Available in PDF, EPUB and Kindle. Book excerpt: Climate justice requires sharing the burdens and benefits of climate change and its resolution equitably and fairly. This book brings together economic and philosophical discourse on climate justice in order to support public policy dialogue on the topic.
Book Synopsis The Distributional Effects of Environmental Policy by : Johnstone Nick
Download or read book The Distributional Effects of Environmental Policy written by Johnstone Nick and published by OECD Publishing. This book was released on 2006-02-23 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book builds upon existing literature to simultaneously examine disparities in the distribution of environmental impacts of environmental policy and in the distribution of financial effects among households.
Book Synopsis Intergenerational Governance and Leadership in the Corporate World: Emerging Research and Opportunities by : Puaschunder, Julia Margarete
Download or read book Intergenerational Governance and Leadership in the Corporate World: Emerging Research and Opportunities written by Puaschunder, Julia Margarete and published by IGI Global. This book was released on 2019-04-15 with total page 254 pages. Available in PDF, EPUB and Kindle. Book excerpt: Intergenerational equity constraints herald a call for intergenerational equity – the fairness to provide an at least as favorable standard of living as enjoyed today. While grounded in evolution, intergenerational fairness has not been attributed as a natural behavioral law – a human-imbued drive bound by human fallibility. A rounded ethical decision-making anomalies frame to test the applicability of the bounded ethicality paradigm in intergenerational concerns is missing. Behavioral socio-economics shows potential to improve human intergenerational conscientiousness on financial social responsibility and environmental ethicality is underexplored. Intergenerational Governance and Leadership in the Corporate World: Emerging Research and Opportunities is an essential reference source that promotes the idea of intergenerational equity in the corporate world as an alternative means to coordinating the common good and imbuing economic stability beyond a purely governmental approach. Featuring research on topics such as financial development, organizational culture, and behavioral economics, this research is ideally intended for executives, policy planners, managers, researchers, and students.
Book Synopsis Equality and Efficiency REV by : Arthur M. Okun
Download or read book Equality and Efficiency REV written by Arthur M. Okun and published by Brookings Institution Press. This book was released on 2015-04-30 with total page 171 pages. Available in PDF, EPUB and Kindle. Book excerpt: Originally published in 1975, Equality and Efficiency: The Big Tradeoff is a very personal work from one of the most important macroeconomists of the last hundred years. And this new edition includes "Further Thoughts on Equality and Efficiency," a paper published by the author two years later. In classrooms Arthur M. Okun may be best remembered for Okun's Law, but his lasting legacy is the respect and admiration he earned from economists, practitioners, and policymakers. Equality and Efficiency is the perfect embodiment of that legacy, valued both by professional economists and those readers with a keen interest in social policy. To his fellow economists, Okun presents messages, in the form of additional comments and select citations, in his footnotes. To all readers, Okun presents an engaging dual theme: the market needs a place, and the market needs to be kept in its place. As Okun puts it: Institutions in a capitalist democracy prod us to get ahead of our neighbors economically after telling us to stay in line socially. This double standard professes and pursues an egalitarian political and social system while simultaneously generating gaping disparities in economic well-being. Today, Okun's dual theme feels incredibly prescient as we grapple with the hot-button topic of income inequality. In his foreword, Lawrence H. Summers declares: On what one might think of as questions of "economic philosophy," I doubt that Okun has been improved on in the subsequent interval. His discussion of how societies rely on rights as well as markets should be required reading for all young economists who are enamored with market solutions to all problems. With a new foreword by Lawrence H. Summers
