On the 'Environmental' Discount Rate
On the 'Environmental' Discount Rate
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关于“环境”折扣率
DOI：
10.1006/jeem.1994.1012
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发表时间：
1994
影响因子：
4.6
通讯作者：
M. Weitzman
中科院分区：
文献类型：
--
作者：
M. Weitzman
摘要在本文中，我表明，“环保主义”本身可以提供一个严格的基础，低和不断下降的贴现率，环保主义者似乎赞成在长期的成本效益计算。如果这确实是一个程式化的事实，我们正在走向一个环境支出越来越重要的世界，这种情况本身可能会大大降低社会回报率。一个公式推导出的比例的社会私人贴现率作为一个简单的功能的两个操作环境参数。这个公式被用来解释为什么社会回报率应该低于私人回报率，以及为什么这个差距在用国民收入的蒸发量来衡量时被称为“环境阻力”可能会随着时间的推移而增加。
Abstract In this paper I show that "environmentalism" itself can provide a rigorous foundation for the low and declining discount rates that environmentalists seem to favor in long-term cost-benefit calculations. If indeed it is a stylized fact that we are moving toward a world where environmental spending is increasingly important, that scenario per se may significantly lower the social rate of return. A formula is derived for the ratio of social to private discount rates as a simple function of two operational environmental parameters. The formula is used to explain why the social rate of return ought to be lower than the private rate and why this gap-called "environmental drag" when measured in terms of equivalent evaporation of national income-may be expected to increase over time.