| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP16114 |
| DP16114 The Cross-Sectional Implications of the Social Discount Rate | |
| Maya Eden | |
| 发表日期 | 2021-05-05 |
| 出版年 | 2021 |
| 语种 | 英语 |
| 摘要 | How should policy discount future returns? The standard approach to this normative question is to ask how much society should care about future generations. This paper establishes an alternative approach, based on the social desirability of age-based redistribution. The social discount rate is below the market interest rate only if it is desirable to increase the consumption of the young at the expense of the old. Along the balanced growth path, small deviations of the social discount rate from the market interest rate imply large welfare gains from redistributing consumption across age groups. |
| 主题 | Macroeconomics and Growth |
| 关键词 | Overlapping generations Utilitarianism Age-based inequality Balanced growth path |
| URL | https://cepr.org/publications/dp16114-0 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/545091 |
| 推荐引用方式 GB/T 7714 | Maya Eden. DP16114 The Cross-Sectional Implications of the Social Discount Rate. 2021. |
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