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Taux d’actualisation et rémunération du capital

Listed author(s):
  • Christian Gollier

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.

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Article provided by Presses de Sciences-Po in its journal Revue française d'économie.

Volume (Year): Volume XXX (2015)
Issue (Month): 4 ()
Pages: 3-15

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Handle: RePEc:cai:rferfe:rfe_154_0003
Contact details of provider: Web page: http://www.cairn.info/revue-francaise-d-economie.htm

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  1. Christian Gollier, 2012. "Pricing the Planet's Future: The Economics of Discounting in an Uncertain World," Economics Books, Princeton University Press, edition 1, number 9894, June.
  2. Robert J. Barro, 2009. "Rare Disasters, Asset Prices, and Welfare Costs," American Economic Review, American Economic Association, vol. 99(1), pages 243-264, March.
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