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A time preference measure of the social discount rate for the UK

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  • David Evans
  • Haluk Sezer
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    Abstract

    In this study the social discount rate for the UK is estimated, the result compared with the Treasury approved rate and the main associated policy implications considered. A case is argued for reducing the official discount rate in appraisals involving all long-term social projects. The estimate of the elasticity of the marginal utility of consumption, an important component of the discount rate, is supported by plausible and statistically valid regression results. The need for further work relating to other major european countries is identified so that discount rate comparisons can be made on a consistent basis.

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    File URL: http://www.tandfonline.com/doi/abs/10.1080/00036840210128753
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    Bibliographic Info

    Article provided by Taylor & Francis Journals in its journal Applied Economics.

    Volume (Year): 34 (2002)
    Issue (Month): 15 ()
    Pages: 1925-1934

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    Handle: RePEc:taf:applec:v:34:y:2002:i:15:p:1925-1934

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    Cited by:
    1. Ferda Halicioglu & Cevat Karatas, 2013. "A social discount rate for Turkey," Quality & Quantity: International Journal of Methodology, Springer, vol. 47(2), pages 1085-1091, February.
    2. Michael Spackman, 2011. "Government discounting controversies: the valuation of social time preference," Grantham Research Institute on Climate Change and the Environment Working Papers 68, Grantham Research Institute on Climate Change and the Environment.
    3. Massimo Florio & Emanuela Sirtori, 2013. "The social cost of capital: recent estimates for the EU countries," Working Papers 201303, Centre for Industrial Studies (CSIL).
    4. Aristei, David & Perugini, Cristiano, 2010. "Preferences for redistribution and inequality in well-being across Europe," Journal of Policy Modeling, Elsevier, vol. 32(2), pages 176-195, March.

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