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Taux d’actualisation et rémunération du capital

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  • Christian Gollier

Abstract

The recent literature provides arguments in favor of taking better account of the distant future in the evaluation of investments. This justifies using a smaller rate to discount long-term costs and benefits of public investments. However, in a decentralized economy in which the operators undertaking these investments face capital costs that are determined by financial markets, these arguments are useless to determine the remuneration of these capital costs.

Suggested Citation

  • Christian Gollier, 2015. "Taux d’actualisation et rémunération du capital," Revue française d'économie, Presses de Sciences-Po, vol. 0(4), pages 3-15.
    • Handle: RePEc:cai:rferfe:rfe_154_0003
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    Cited by:

    1. Bernard Lapeyre & Emile Quinet, 2017. "A Simple GDP-based Model for Public Investments at Risk," Post-Print hal-01666574, HAL.
    2. Bernard Lapeyre & Emile Quinet, 2017. "A Simple GDP-based Model for Public Investments at Risk," PSE-Ecole d'économie de Paris (Postprint) hal-01666574, HAL.

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