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The Rate of Time Preference in the United States Government

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  • Peter Temin

Abstract

I use Samuelson's Nonsubstitution Theorem (1961) to argue that government policies in the United States traditionally reflected a low discount rate. The government's discount rate appears to have risen sharply in the last generation, showing the usefulness of Samuelson's theorem and the difficulties facing the United States in the future.

Suggested Citation

  • Peter Temin, 2007. "The Rate of Time Preference in the United States Government," The American Economist, Sage Publications, vol. 51(2), pages 8-15, October.
    • Handle: RePEc:sae:amerec:v:51:y:2007:i:2:p:8-15
    DOI: 10.1177/056943450705100202
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    References listed on IDEAS

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