Declining Discount Rates: Evidence from the UK

Ekaterini Panopoulou (), Ben Groom (), Phoebe Koundouri () and Theologos Pantelidis ()

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: 2005-01
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Persistent link: http://EconPapers.repec.org/RePEc:may:mayecw:n1470105

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