haku: @indexterm DISCOUNT RATE / yhteensä: 136
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| Tekijä: | Horowitz, J. |
| Otsikko: | Environmental policy under a non-market discount rate |
| Lehti: | Ecological Economics
1996 : JAN, VOL. 16:1, p. 73-78 |
| Asiasana: | ENVIRONMENT POLICY DISCOUNT RATE |
| Kieli: | eng |
| Tiivistelmä: | This paper looks at polution emissions when a non-market discount rate is used to evaluate environmental policy, and policy is subject to continuous review through time. It is shown that a non-market rate leads to time-inconsistent policy: Future regulations will want not to follow the current regulator's optimal plans, even when the current regulator has perfect foresight and there is no uncertainty. Therefore, the discount rate has different effects depending on whether government can commit to future environmental regulation. |
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