The Cross-Sectional Implications of the Social Discount Rate

IF 6.6 1区经济学 Q1 ECONOMICS

Econometrica Pub Date : 2023-12-07 DOI:10.3982/ECTA20844

Maya Eden

引用次数: 0

Abstract

In this paper, I consider two normative questions: (1) how should policymakers approach tradeoffs that involve different age groups, and (2) at what rate should policymakers discount the consumption of future generations? I demonstrate that, under standard assumptions, these two questions are equivalent: caring more about the future means caring less about the elderly. Even small differences between the social discount rate and the market interest rate can have significant quantitative implications for the relative value placed on the consumption of different age groups.

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社会贴现率的跨部门影响

在本文中，我考虑了两个规范性问题：(1) 政策制定者应如何处理涉及不同年龄组的权衡问题；(2) 政策制定者应以何种比率折现后代人的消费？我证明，在标准假设下，这两个问题是等价的：更多地关心未来意味着更少地关心老年人。即使社会贴现率和市场利率之间存在微小差异，也会对不同年龄组消费的相对价值产生重大的量化影响。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Econometrica 社会科学-数学跨学科应用

CiteScore

11.00

自引率

3.30%

发文量

审稿时长

6-12 weeks

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