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A Fair Value Approach to Valuing Public Infrastructure Projects and the Risk Transfer in Public-Private Partnerships

In: Economic Analysis and Infrastructure Investment

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  • Deborah Lucas
  • Jorge Jimenez Montesinos

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Suggested Citation

  • Deborah Lucas & Jorge Jimenez Montesinos, 2020. "A Fair Value Approach to Valuing Public Infrastructure Projects and the Risk Transfer in Public-Private Partnerships," NBER Chapters, in: Economic Analysis and Infrastructure Investment, pages 369-402, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberch:14364
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    References listed on IDEAS

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    1. James M. Poterba & Arturo Ramirez Verdugo, 2008. "Portfolio Substitution and the Revenue Cost of Exempting State and Local Government Interest Payments from Federal Income Tax," NBER Working Papers 14439, National Bureau of Economic Research, Inc.
    2. Merton, Robert C., 1977. "An analytic derivation of the cost of deposit insurance and loan guarantees An application of modern option pricing theory," Journal of Banking & Finance, Elsevier, vol. 1(1), pages 3-11, June.
    3. Ben Ammar, Semir & Eling, Martin, 2015. "Common risk factors of infrastructure investments," Energy Economics, Elsevier, vol. 49(C), pages 257-273.
    4. Poterba, James M. & Verdugo, Arturo Ramírez, 2011. "Portfolio Substitution and the Revenue Cost of the Federal Income Tax Exemption for State and Local Government Bonds," National Tax Journal, National Tax Association;National Tax Journal, vol. 64(2), pages 591-613, June.
    5. Francis A. Longstaff, 2011. "Municipal Debt and Marginal Tax Rates: Is There a Tax Premium in Asset Prices?," Journal of Finance, American Finance Association, vol. 66(3), pages 721-751, June.
    6. Deborah Lucas, 2014. "Evaluating the cost of government credit support: the Oecd context [Existence of an equilibrium for a competitive economy]," Economic Policy, CEPR, CESifo, Sciences Po;CES;MSH, vol. 29(79), pages 553-597.
    7. Cherbonnier, Frédéric & Gollier, Christian, 2018. "Risk-adjusted social discount rates," TSE Working Papers 18-972, Toulouse School of Economics (TSE), revised Dec 2020.
    8. William F. Sharpe, 1964. "Capital Asset Prices: A Theory Of Market Equilibrium Under Conditions Of Risk," Journal of Finance, American Finance Association, vol. 19(3), pages 425-442, September.
    9. Deborah Lucas, 2012. "Valuation of Government Policies and Projects," Annual Review of Financial Economics, Annual Reviews, vol. 4(1), pages 39-58, October.
    10. Black, Fischer, 1976. "The pricing of commodity contracts," Journal of Financial Economics, Elsevier, vol. 3(1-2), pages 167-179.
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