메뉴 건너뛰기




Volumn 36, Issue 3, 2010, Pages 325-343

The social discount rate for canada based on future growth in consumption

Author keywords

Cost benefit analysis; Shadow price of capital; Social discount rate; Time declining discount rates

Indexed keywords

CAPITAL; CONSUMPTION BEHAVIOR; COST-BENEFIT ANALYSIS; FUTURE PROSPECT; GROWTH MODELING; GROWTH RATE; GUIDELINE; INVESTMENT;

EID: 77957003642     PISSN: 03170861     EISSN: None     Source Type: Journal    
DOI: 10.3138/cpp.36.3.325     Document Type: Article
Times cited : (40)

References (60)
  • 2
    • 0002728016 scopus 로고    scopus 로고
    • Intertemporal equity, discounting and economic efficiency
    • ed. J. P. Bruce et al., Cambridge, UK: Cambridge University Press
    • Arrow, K. J., W. R. Cline, K-G. Maler, M. Munasinghe, R., Squitieri, R., and J. E. Stiglitz. 1996. "Intertemporal Equity, Discounting and Economic Efficiency." In Climate Change 1995, ed. J. P. Bruce et al., 128-44. Cambridge, UK: Cambridge University Press.
    • (1996) Climate Change 1995 , pp. 128-144
    • Arrow, K.J.1    Cline, W.R.2    Maler, K.-G.3    Munasinghe, M.R.4    Squitieri, R.5    Stiglitz, J.E.6
  • 5
    • 0000599862 scopus 로고
    • Constraints on government investment opportunities and the choice of discount rate
    • Bradford, D. F. 1975. "Constraints on Government Investment Opportunities and the Choice of Discount Rate." American Economic Review 65 (5):887-99.
    • (1975) American Economic Review , vol.65 , Issue.5 , pp. 887-899
    • Bradford, D.F.1
  • 8
    • 77957001115 scopus 로고    scopus 로고
    • Federal-provincial combined marginal effective tax rate on capital: 1997-2006
    • C. D. Howe Institute e-brief 20 June. Accessed 26 February 2008 at
    • Chen, D. and J. Mintz. 2006. "Federal-Provincial Combined Marginal Effective Tax Rate on Capital: 1997-2006." Supplementary information for "Business Tax Reform: More Progress Needed." C. D. Howe Institute e-brief (20 June). Accessed 26 February 2008 at http://www.cdhowe.org/pdf/ ebrief-31-SIpdf
    • (2006) Supplementary Information for "Business Tax Reform: More Progress Needed
    • Chen, D.1    Mintz, J.2
  • 9
    • 0003896237 scopus 로고
    • Washington, DC: Institute for International Economics
    • Cline, W. R. 1992. The Economics of Global Warming. Washington, DC: Institute for International Economics.
    • (1992) The Economics of Global Warming
    • Cline, W.R.1
  • 10
    • 77956994546 scopus 로고    scopus 로고
    • Consensus Economics, Obtained from Datastream by Simon Fraser University librarian Mark Bodnar, 29 November
    • Consensus Economics. 2008. Consensus Forecasts. Obtained from Datastream by Simon Fraser University librarian Mark Bodnar, 29 November 2007.
    • (2007) Consensus Forecasts
  • 12
    • 35349025744 scopus 로고    scopus 로고
    • Commentary: The stern review's economics of climate change
    • Dasgupta, P. 2007. "Commentary: The Stern Review's Economics of Climate Change." National Institute Economic Review 199:4-7.
    • (2007) National Institute Economic Review , vol.199 , pp. 4-7
    • Dasgupta, P.1
  • 13
    • 85070956340 scopus 로고    scopus 로고
    • Intergenerational equity, social discount rates, and global warming
    • ed. P. R. Portney and J. P. Weyant, Washington, DC: Resources for the Future
    • Dasgupta, P., Maler, K.-G., and S. Barrett. 1999. "Intergenerational Equity, Social Discount Rates, and Global Warming." In Discounting and Intergenerational Equity, ed. P. R. Portney and J. P. Weyant, 51-78. Washington, DC: Resources for the Future.
    • (1999) Discounting and Intergenerational Equity , pp. 51-78
    • Dasgupta, P.1    Maler, K.-G.2    Barrett, S.3
  • 14
    • 4243191781 scopus 로고    scopus 로고
    • Measuring marginal income tax rates for individuals in Canada: Averages and distributions over time
    • Davies, J. B. and J. Zhang. 1996. "Measuring Marginal Income Tax Rates for Individuals in Canada: Averages and Distributions over Time." Canadian Journal of Economics 29 (4):959-75.
    • (1996) Canadian Journal of Economics , vol.29 , Issue.4 , pp. 959-975
    • Davies, J.B.1    Zhang, J.2
  • 16
    • 20744437119 scopus 로고    scopus 로고
    • The elasticity of marginal utility of consumption: Estimates for 20 OECD countries
    • Evans, D. J. 2005. "The Elasticity of Marginal Utility of Consumption: Estimates for 20 OECD Countries." Fiscal Studies 26 (2):197-224.
    • (2005) Fiscal Studies , vol.26 , Issue.2 , pp. 197-224
    • Evans, D.J.1
  • 17
    • 3442884304 scopus 로고    scopus 로고
    • Social discount rates for six major countries
    • Evans, D. J. and H. Sezer. 2004. "Social Discount Rates for Six Major Countries." Applied Economic Letters 11 (9):557-60.
    • (2004) Applied Economic Letters , vol.11 , Issue.9 , pp. 557-560
    • Evans, D.J.1    Sezer, H.2
  • 18
    • 18844383700 scopus 로고    scopus 로고
    • Social discount rates for member countries of the European union
    • - 2005. "Social Discount Rates for Member Countries of the European Union. " Journal of Economic Studies 32 (1):47-60.
    • (2005) Journal of Economic Studies , vol.32 , Issue.1 , pp. 47-60
  • 22
    • 0041751571 scopus 로고
    • On measuring the social opportunity cost of public funds
    • Chicago: University of Chicago Press
    • Harberger, A. C. 1972. "On Measuring the Social Opportunity Cost of Public Funds." In Project Evaluation: Selected Papers. Chicago: University of Chicago Press.
    • (1972) Project Evaluation: Selected Papers
    • Harberger, A.C.1
  • 24
    • 0347270661 scopus 로고
    • The measurement of rates of return and taxation for private capital in Canada
    • ed. W. A. Niskanen et al., Chicago: Aldine
    • Jenkins, G. P. 1973. "The Measurement of Rates of Return and Taxation for Private Capital in Canada." In Benefit Cost and Policy Analysis, ed. W. A. Niskanen et al., 211-45. Chicago: Aldine.
    • (1973) Benefit Cost and Policy Analysis , pp. 211-245
    • Jenkins, G.P.1
  • 25
    • 4944229350 scopus 로고
    • Capital in Canada: Its social and private performance, 1965-1974
    • Economic Council of Canada Ministry of Supply and Services Canada
    • - 1977. "Capital in Canada: Its Social and Private Performance, 1965-1974." Discussion Paper No. 98, Economic Council of Canada (Ministry of Supply and Services Canada).
    • (1977) Discussion Paper No. 98
  • 27
    • 85108321800 scopus 로고    scopus 로고
    • Was an industrial revolution inevitable? Economic growth over the very long run
    • Article 1. Accessed 11 February 2008 at
    • Jones, C. I. 2001. "Was an Industrial Revolution Inevitable? Economic Growth over the Very Long Run. " Advances in Macroeconomics 1(2), Article 1. Accessed 11 February 2008 at http://www.bepress.com/bejm/advances/ vol1/iss2/art1.
    • (2001) Advances in Macroeconomics , vol.1 , Issue.2
    • Jones, C.I.1
  • 28
    • 0000698042 scopus 로고
    • Derivation of social time preference rates for the United States and Canada
    • Kula, E. 1984. "Derivation of Social Time Preference Rates for the United States and Canada." Quarterly Journal of Economics 99 (4):873-82.
    • (1984) Quarterly Journal of Economics , vol.99 , Issue.4 , pp. 873-882
    • Kula, E.1
  • 29
    • 0038969032 scopus 로고    scopus 로고
    • Golden eggs and hyperbolic discounting
    • Laibson, D. 1997. "Golden Eggs and Hyperbolic Discounting." Quarterly Journal of Economics 112 (2):443-77.
    • (1997) Quarterly Journal of Economics , vol.112 , Issue.2 , pp. 443-477
    • Laibson, D.1
  • 30
    • 0001927039 scopus 로고
    • Reassessing the government's discount rate policy in light of new theory and data in a world economy with a high degree of capital mobility
    • part 2
    • Lind, R. C. 1990. "Reassessing the Government's Discount Rate Policy in Light of New Theory and Data in a World Economy with a High Degree of Capital Mobility." Journal of Environmental Economics and Management 18(2), part 2: S8-S28.
    • (1990) Journal of Environmental Economics and Management , vol.18 , Issue.2
    • Lind, R.C.1
  • 31
    • 84960566726 scopus 로고
    • Anomalies in intertemporal choice: Evidence and an interpretation
    • Loewenstein, G. and D. Prelec. 1992. "Anomalies in Intertemporal Choice: Evidence and an Interpretation. " Quarterly Journal of Economics 107 (2):573-97.
    • (1992) Quarterly Journal of Economics , vol.107 , Issue.2 , pp. 573-597
    • Loewenstein, G.1    Prelec, D.2
  • 33
    • 0040740586 scopus 로고
    • Federal discount rate policy, the shadow price of capital, and challenges for reforms
    • Lyon, R. M. 1990. "Federal Discount Rate Policy, the Shadow Price of Capital, and Challenges for Reforms." Journal of Environmental Economics and Management 18 (2):S29-S50.
    • (1990) Journal of Environmental Economics and Management , vol.18 , Issue.2
    • Lyon, R.M.1
  • 34
    • 84918978551 scopus 로고
    • The social rate of discount and the optimal rate of investment
    • Marglin, S. A. 1963. "The Social Rate of Discount and the Optimal Rate of Investment." Quarterly Journal of Economics 77 (1):95-111.
    • (1963) Quarterly Journal of Economics , vol.77 , Issue.1 , pp. 95-111
    • Marglin, S.A.1
  • 38
    • 0038341026 scopus 로고    scopus 로고
    • Discounting the distant future: How much do uncertain rates increase valuations?
    • Newell, R. G. and W. A. Pizer. 2003. "Discounting the Distant Future: How Much Do Uncertain Rates Increase Valuations?" Journal of Environmental Economics and Management 46 (1):52-71.
    • (2003) Journal of Environmental Economics and Management , vol.46 , Issue.1 , pp. 52-71
    • Newell, R.G.1    Pizer, W.A.2
  • 39
    • 85070979622 scopus 로고    scopus 로고
    • Discounting and public policies that affect the distant future
    • ed. P. R. Portney and J. P. Weyant, Washington, D. C: Resources for the Future
    • Nordhaus, W. D. 1999. "Discounting and Public Policies That Affect the Distant Future." In Discounting and Intergenerational Equity, ed. P. R. Portney and J. P. Weyant, 145-62. Washington, D. C: Resources for the Future.
    • (1999) Discounting and Intergenerational Equity , pp. 145-162
    • Nordhaus, W.D.1
  • 40
    • 35348974085 scopus 로고    scopus 로고
    • A review of the stern review on the economics of climate change
    • - 2007. "A Review of the Stern Review on the Economics of Climate Change." Journal of Economic Literature 45 (3):682-702.
    • (2007) Journal of Economic Literature , vol.45 , Issue.3 , pp. 682-702
  • 41
    • 77956986868 scopus 로고    scopus 로고
    • OECD, Accessed February 26 2008 at
    • OECD. 2006. "Taxing Wages Statistics." Accessed February 26 2008 at http://oecd-stats.ingenta.com/OECD/TableViewer/DimView.aspx?TableName= 2eapwnew.ivt&IF-Language=eng
    • (2006) Taxing Wages Statistics
  • 43
    • 3242690225 scopus 로고    scopus 로고
    • Valuing the future: Recent advances in social discounting
    • Pearce, D., B. Groom, C. Hepburn, and P. Koundouri. 2003. "Valuing the Future: Recent Advances in Social Discounting." World Economics 4 (2):121-41.
    • (2003) World Economics , vol.4 , Issue.2 , pp. 121-141
    • Pearce, D.1    Groom, B.2    Hepburn, C.3    Koundouri, P.4
  • 44
    • 0001044952 scopus 로고
    • The golden rule of accumulation: A fable for growthmen
    • Phelps, E. 1961. "The Golden Rule of Accumulation: A Fable for Growthmen. " American Economic Review 51 (4):638-43.
    • (1961) American Economic Review , vol.51 , Issue.4 , pp. 638-643
    • Phelps, E.1
  • 45
  • 46
    • 0003796491 scopus 로고    scopus 로고
    • Portney, P. R. and J. P. Weyant, eds, Washington, DC: Resources for the Future
    • Portney, P. R. and J. P. Weyant, eds. 1999. Discounting and Intergenerational Equity. Washington, DC: Resources for the Future.
    • (1999) Discounting and Intergenerational Equity
  • 47
    • 0041417788 scopus 로고    scopus 로고
    • Prosperity and depressions
    • Prescott, E. 2002. "Prosperity and Depressions." American Economic Review 92 (2):1-15.
    • (2002) American Economic Review , vol.92 , Issue.2 , pp. 1-15
    • Prescott, E.1
  • 48
    • 0001131206 scopus 로고
    • A mathematical theory of saving
    • Ramsey, F. P. 1928. "A Mathematical Theory of Saving." Economic Journal 38 (151):543-59.
    • (1928) Economic Journal , vol.38 , Issue.151 , pp. 543-559
    • Ramsey, F.P.1
  • 49
    • 85055760144 scopus 로고
    • Discount rates for public investment in closed and open economies
    • Sandmo, A. and J. H. Drèze. 1971. "Discount Rates for Public Investment in Closed and Open Economies." Economica 38 (152):395-412.
    • (1971) Economica , vol.38 , Issue.152 , pp. 395-412
    • Sandmo, A.1    Drèze, J.H.2
  • 50
    • 0000660646 scopus 로고    scopus 로고
    • The response of household consumption to income tax refunds
    • Souleles, N. S. 1999. "The Response of Household Consumption to Income Tax Refunds." American Economic Review 89 (4):947-58.
    • (1999) American Economic Review , vol.89 , Issue.4 , pp. 947-958
    • Souleles, N.S.1
  • 51
    • 0036267643 scopus 로고    scopus 로고
    • Consumer response to the reagan tax cuts
    • - 2002. "Consumer Response to the Reagan Tax Cuts." Journal of Public Economics 85 (1):99-120.
    • (2002) Journal of Public Economics , vol.85 , Issue.1 , pp. 99-120
  • 52
    • 11444249263 scopus 로고    scopus 로고
    • Time discounting and of the cost of capital in government
    • Spackman, M. 2004. "Time Discounting and of the Cost of Capital in Government." Fiscal Studies 25 (4):467-518.
    • (2004) Fiscal Studies , vol.25 , Issue.4 , pp. 467-518
    • Spackman, M.1
  • 53
    • 77956987823 scopus 로고    scopus 로고
    • Treasury Bills: 1 Year Percent; v122538 Canada; Selected Government of Canada Benchmark Bond Yields: 2 Year Percent; v122543 Canada; Selected Government of Canada Benchmark Bond Yields: 10 Years Percent; v122544 Canada; Selected Government of Canada Benchmark Bond Yields: Long Term Percent; v39057 Canada; Real Return Benchmark Bond Yield, Long Term; v41707176 - Canada; 2002 Constant Prices Dollars; Personal Expenditure on Consumer Goods and Services; v466668 - Canada; Both Sexes; All Ages Persons; v122518 - Canada; Scotia Capital Inc. - Average Weighted Yield: All Corporations Long-Term Percent; v122519 - Canada; Scotia Capital Inc. - Average Weighted Yield: All Corporations Mid-Term Percent. All series obtained from, accessed February 26, 2008
    • Statistics Canada. 2008. CANSIM Database Series: v122533 - Canada; Treasury Bills: 1 Year (Percent); v122538 Canada; Selected Government of Canada Benchmark Bond Yields: 2 Year (Percent); v122543 Canada; Selected Government of Canada Benchmark Bond Yields: 10 Years (Percent); v122544 Canada; Selected Government of Canada Benchmark Bond Yields: Long Term (Percent); v39057 Canada; Real Return Benchmark Bond Yield, Long Term; v41707176 - Canada; 2002 Constant Prices (Dollars); Personal Expenditure on Consumer Goods and Services; v466668 - Canada; Both Sexes; All Ages (Persons); v122518 - Canada; Scotia Capital Inc. - Average Weighted Yield: All Corporations Long-Term (Percent); v122519 - Canada; Scotia Capital Inc. - Average Weighted Yield: All Corporations Mid-Term (Percent). All series obtained from http://dc1.chass.utoronto.ca/cansimdim/, accessed February 26, 2008).
    • (2008) CANSIM Database Series: V122533 - Canada
    • Canada, S.1
  • 56
    • 0037873758 scopus 로고
    • Treasury Board of Canada Secretariat TBS, Mimeo, March, Planning Branch
    • Treasury Board of Canada Secretariat (TBS). 1976. Benefit-Cost Analysis Guide. Mimeo, March, Planning Branch.
    • (1976) Benefit-Cost Analysis Guide
  • 57
    • 67349211591 scopus 로고    scopus 로고
    • Ottawa: Treasury Board of Canada Secretariat. Also available at, modified 16 December, accessed 11 February 2008
    • - 1998. Benefit-Cost Analysis Guide (Draft), Ottawa: Treasury Board of Canada Secretariat. Also available at http://www.tbs-sct.gc.ca/fin/sigs/ Revolving-Funds/bcag/BCA2-e.asp (modified 16 December 2002; accessed 11 February 2008.
    • (1998) Benefit-Cost Analysis Guide (Draft)
  • 58
    • 59849129788 scopus 로고    scopus 로고
    • Ottawa: Treasury Board Secretariat. Also available at, accessed 7 January 2009
    • - 2007. Canadian Cost-Benefit Analysis Guide: Regulatory Proposals (Interim). Ottawa: Treasury Board Secretariat. Also available at http://www.regulation. gc.ca/documents/gl-ld/analys/analystb-eng.asp; accessed 7 January 2009.
    • (2007) Canadian Cost-Benefit Analysis Guide: Regulatory Proposals (Interim)
  • 60
    • 35348974085 scopus 로고    scopus 로고
    • A review of the stern review on the economics of climate change
    • - 2007. "A Review of the Stern Review on the Economics of Climate Change." Journal of Economic Literature 45 (3):703-24.
    • (2007) Journal of Economic Literature , vol.45 , Issue.3 , pp. 703-724


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.