Den samfundsøkonomiske kalkulationsrente

Anders Chr. Hansen ()
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Anders Chr. Hansen: Department of Environmental, Social and Spatial Change (ENSPAC), Roskilde Universitet, Postal: Universitetsvej 1, 4000 Roskilde, Danmark

Nationaløkonomisk tidsskrift, 2010, vol. 2010, issue 1, 159-192

Abstract: The discount rate prescribed by the Danish Ministry of Finance for the economic appraisal of politically driven investments is relatively high and this has given rise to concerns for sub-optimal ranking of these. The paper addresses the theoretical and empirical basis for the social discount rate and recommends a level of 3%+/-2% for time horizons within 30 years. For longer time horizons a gradually declining discount rate is recommended (hyperbolic discounting). It is shown that hyperbolic discounting does not give rise to time inconsistency in the appraisal of classical (putty-clay/sunk cost, inseparable) investment plans.

Keywords: kalkulationsrente; offentlige investeringer; kapitalafkast (search for similar items in EconPapers)
JEL-codes: A10 (search for similar items in EconPapers)
Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:hhs:jdaecn:0065

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