Declining Discount Rates: Evidence from the UK

Ekaterini Panopoulou (), B. Groom, Phoebe Koundouri () and Theologos Pantelidis
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B. Groom: Department of Economics, Finance and Accounting, University College London, UK.
Theologos Pantelidis: Department of Banking and Financial Management, University of Piraeus, Greece.

Economics, Finance and Accounting Department Working Paper Series from Department of Economics, Finance and Accounting, National University of Ireland - Maynooth

Abstract: We estimate schedules of declining discount rates for cost benefit analysis in the UK. We highlight the importance of model selection for this task and hence for the evaluation of long-term investments, namely climate change prevention and nuclear build.

Keywords: long-run discounting; state-space models; regime-switching models; climate change policy; nuclear build (search for similar items in EconPapers)
JEL-codes: C13 C53 Q2 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ene
Date: Written 2005-01
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