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

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  • David Evans
  • Haluk Sezer

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.

Suggested Citation

  • David Evans & Haluk Sezer, 2002. "A time preference measure of the social discount rate for the UK," Applied Economics, Taylor & Francis Journals, vol. 34(15), pages 1925-1934.
  • Handle: RePEc:taf:applec:v:34:y:2002:i:15:p:1925-1934
    DOI: 10.1080/00036840210128753
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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," GRI Working Papers 68, Grantham Research Institute on Climate Change and the Environment.
    3. 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.
    4. Massimo Florio & Emanuela Sirtori, 2013. "The social cost of capital: recent estimates for the EU countries," Working Papers 201303, CSIL Centre for Industrial Studies.
    5. David EVANS & Erhun KULA, 2009. "Social discount rates and welfare weights for public investment decisions under budgetary restrictions – the case of Cyprus," Departmental Working Papers 2009-19, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.

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