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A 3.8% Discount Rate?

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Author Info
John Hartwick () (Queen's University)

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Abstract

We find that a discount rate of 3.8% allows us to derive the schedule of "value of life years" in Murphy and Topel [2006] from their schedule of "value of remaining years of life", this latter presumably being based on a "value of statistical life" of $6.3 million. We draw on the Makeham function for life expectancy in our calculation.

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File URL: http://www.econ.queensu.ca/working_papers/papers/qed_wp_1199.pdf
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File Function: First version 2009
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Publisher Info
Paper provided by Queen's University, Department of Economics in its series Working Papers with number 1199.

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Length: 9 pages
Date of creation: Mar 2009
Date of revision:
Handle: RePEc:qed:wpaper:1199

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Related research
Keywords: value of life; discount rate; life expectancy;

Find related papers by JEL classification:
J17 - Labor and Demographic Economics - - Demographic Economics - - - Value of Life; Foregone Income
I10 - Health, Education, and Welfare - - Health - - - General

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This page was last updated on 2009-11-26.

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