Reference : (The Economics of) Discounting: Unbalanced Growth, Uncertainty and Spatial Considerations
Scientific journals : Article
Business & economic sciences : Microeconomics
http://hdl.handle.net/10993/32636
(The Economics of) Discounting: Unbalanced Growth, Uncertainty and Spatial Considerations
English
Kyriakopoulou, Efthymia mailto [University of Luxembourg > Faculty of Law, Economics and Finance (FDEF) > Center for Research in Economic Analysis (CREA) >]
Sterner, Thomas [University of Gothenburg]
2012
Annual Review of Resource Economics
Annual Reviews
4
285-301
Yes (verified by ORBilu)
International
1941-1340
1941-1359
Pao Alto
CA
[en] relative prices ; unbalanced growth ; spatial discounting
[en] The economics of climate change and the various measures that should be implemented to reduce future damages are highly tied to the use of cost-benefit analysis. Traditional approaches ignore the fact that environmental amenities do not experience the same
growth rate as do most of the sectors in the economy, which leads to changing relative prices. Uncertainty should also be considered, especially when one is conducting cost-benefit analysis involving the long-run damages from climate change. This article reviews some theoretical approaches to the economics of discounting and discusses issues associated with unbalanced growth, uncertainty, and spatial discounting.
Researchers ; General public
http://hdl.handle.net/10993/32636

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