Discounting and intragenerational equity

Environment and Development Economics

Volumn 23, Issue 1, 2018, Pages 19-36

  Emmerling, Johannes ^a  

^a Fondazione Eni Enrico Mattei (FEEM) and Centro Euro Mediterraneo sui Cambiamenti Climatici (CMCC)   (Italy)

Author keywords

climate change; convergence; Discounting; inequality

Indexed keywords

EID: 85033364875     PISSN: 1355770X     EISSN: 14694395     Source Type: Journal    
DOI: 10.1017/S1355770X17000365     Document Type: Article

References (51)

1. Atkinson AB. (1970). On the measurement of inequality. Journal of Economic Theory 2(3), 244-263.
2. Atkinson AB, and Brandolini A. (2010). On analyzing the world distribution of income. World Bank Economic Review 24(1), 1-37.
3. Atkinson GD, Dietz S, Helgeson J, Hepburn C, and Slen H. (2009). Siblings, not triplets: social preferences for risk, inequality, and time in discounting climate change. Economics The Open Access, Open Assessment EJournal 3(26), 1-29.
4. Azar C, and Sterner T. (1996). Discounting, and distributional considerations in the context of global warming. Ecological Economics 19(2), 169-184.
5. Barsky RB, Juster FT, Kimball MS, and Shapiro MD. (1997). Preference parameters, and behavioral heterogeneity: an experimental approach in the health, and retirement study. The Quarterly Journal of Economics 112(2), 537-579.
6. Bommier A. (2007). Risk aversion, intertemporal elasticity of substitution, and correlation aversion. Economics Bulletin 4(29), 1-8.
7. Bourguignon F, Levin V, and Rosenblatt D. (2006). Global redistribution of income, Technical Report, The World Bank
8. Carlsson F, Daruvala D, and JohanssonStenman O. (2005). Are people inequalityaverse, or just riskaverse? Economica 72(287), 375-396.
9. Clarkson R, and Deyes K. (2002). Estimating the social cost of carbon emissions, Technical Report 140, HM Treasury
10. Conceiao P, and Zhang Y. (2010). Discounting in the context of climate change economics: the policy implications of uncertainty, and global asymmetries. Environmental Economics, and Policy Studies 12(1-2), 31-57.
11. Cowell F. (2011). Measuring Inequality, London School of Economics Perspectives in Economic Analysis. Oxford, New York: Oxford University Press
12. Crespo Cuaresma J. (2017). Income projections for climate change research: a framework based on human capital dynamics. Global Environmental Change 42, 226-236.
13. Crost B, and Traeger CP. (2014). Optimal CO2 mitigation under damage risk valuation. Nature Climate Change 4(7), 631-636.
14. De Carvalho M. (2015). An investigation on societal inequality aversion inWestern Europe, mimeo
15. Dellink R, Chateau J, Lanzi E, and Magn B. (2017). Longterm economic growth projections in the shared socioeconomic pathways. Global Environmental Change 42, 200-214.
16. Drupp M, Freeman M, Groom B, and Nesje F. (2015). Discounting disentangled: an expert survey on the determinants of the longterm social discount rate, GRI Working Paper 196a, Grantham Research Institute on Climate Change, and the Environment
17. Epstein LG, and Zin SE. (1989). Substitution, risk aversion, and the temporal behavior of consumption, and asset returns: a theoretical framework. Econometrica 57(4), 937-969.
18. Epstein LG, and Zin SE. (1991). Substitution, risk aversion, and the temporal behavior of consumption, and asset returns: an empirical analysis. The Journal of Political Economy 99(2), 263-286.
19. Evans DJ. (2005). The elasticity of marginal utility of consumption: estimates for 20 OECD countries. Fiscal Studies 26(2), 197-224.
20. Fankhauser S, Tol RSJ, and Pearce DW. (1997). The aggregation of climate change damages: a welfare theoretic approach. Environmental, and Resource Economics 10(3), 249-266.
21. Fleurbaey M, and Zuber S. (2015). Discounting, risk, and inequality: a general approach. Journal of Public Economics 128, 34-49.
22. Gierlinger J, and Gollier C. (2008). Socially efficient discounting under ambiguity aversion, Technical Report 561, IDEI, Toulouse
23. Gollier C. (2002). Discounting an uncertain future. Journal of Public Economics 85(2), 149-166.
24. Gollier C. (2008). Discounting with fattailed economic growth. Journal of Risk, and Uncertainty 37(2), 171-186.
25. Gollier C. (2010). Ecological discounting. Journal of Economic Theory 145(2), 812-829.
26. Gollier C. (2011). Pricing the Future: the Economics of Discounting, and Sustainable Development. Princeton, NJ, USA: Princeton University Press
27. Gollier C. (2015). Discounting, inequality, and economic convergence. Journal of Environmental Economics, and Management 69, 53-61.
28. Gollier C, and Weitzman ML. (2010). How should the distant future be discounted when discount rates are uncertain? Economics Letters 107(3), 350-353.
29. Gollier C, and Zeckhauser R. (2005). Aggregation of heterogeneous time preferences. Journal of Political Economy 113(4), 878-896.
30. Jouini E, Marin JM, and Napp C. (2010). Discounting, and divergence of opinion. Journal of Economic Theory 145(2), 830-859.
31. Kihlstrom RE, and Mirman LJ. (1974). Risk aversion with many commodities. Journal of Economic Theory 8(3), 361-388.
32. Kimball MS. (1990). Precautionary saving in the small, and in the large. Econometrica 58(1), 53-73.
33. Kimball MS, and Weil P. (2009). Precautionary saving, and consumption smoothing across time, and possibilities. Journal of Money, Credit, and Banking 41(23), 245-284.
34. Kocherlakota NR. (1996). The equity premium: it s still a puzzle. Journal of Economic Literature 34(1), 42-71.
35. Nordhaus WD. (2007). Areview of the Stern Review on the economics of climate change. Journal of Economic Literature 45(3), 686-702.
36. Nordhaus WD. (2014). Estimates of the social cost of carbon: concepts, and results from the DICE2013R model, and alternative approaches. Journal of the Association of Environmental, and Resource Economists 1(1/2), 273-312.
37. Ramsey FP. (1928). A mathematical theory of saving. The Economic Journal 38(152), 543-559.
38. Riahi K, van Vuuren DP, Kriegler E, Edmonds J, ONeill BC, Fujimori S, Bauer N, Calvin K, Dellink R, Fricko O, Lutz w, Popp A, CrespoCuaresma J, KCS, Leimbach M, Jiang L, Kram T, Rao S, Emmerling J, Ebi K, Hasegawa T, Havlik P, Humpenpender F, Silva LA Da, Smith S, Stehfest E, Bosetti V, Eom J, Gernaat D, Masui T, Rogelj J, Strefler J, Drouet L, Krey V, Luderer G, Harmsen M, Takahashi K, Baumstark L, Doelman JC, Kainuma M, Klimont Z, Marangoni G, LotzeCampen H, Obersteiner M, Tabeau A, and Tavoni M. (2017). The shared socioeconomic pathways, and their energy, land use, and greenhouse gas emissions implications: an overview. Global Environmental Change 42, 153-168.
39. Samir KC, and Lutz W. (2017). The human core of the shared socioeconomic pathways: population scenarios by age, sex, and level of education for all countries to 2100. Global Environmental Change 42, 181-192.
40. Schelling TC. (1995). Intergenerational discounting. Energy Policy 23(4-5), 395-401.
41. Spackman M. (2001). Public investment, and discounting in European Union member states. OECD Journal of Budgeting 1(2), 213-260.
42. Stern N. (2006). Stern Review: the Economics of Climate Change. London: HM Treasury
43. Sterner T, and Persson UM(2007) An even Sterner review: introducing relative prices into the discounting debate, Technical Report, Resources For the Future
44. Tol RSJ. (2005). Themarginal damage costs of carbon dioxide emissions: an assessment of the uncertainties. Energy Policy 33(16), 2064-2074.
45. Tol RSJ. (2010). International inequity aversion, and the social cost of carbon. Climate Change Economics (CCE) 1(1), 21-32.
46. Traeger CP. (2009). Recent developments in the intertemporal modeling of uncertainty. Annual Review of Resource Economics 1(1), 261-286.
47. UNDP. (2007). Human Development Report 2007/2008. Fighting Climate Change: Human Solidarity in a Divided World. Hampshire, UK, and New York: Palgrave Macmillan
48. U.S. Census Bureau. (2010). Income, poverty, and health insurance coverage in the United States: 2009, Technical Report
49. Weitzman ML. (1998). Why the fardistant future should be discounted at its lowest possible rate. Journal of Environmental Economics, and Management 36(3), 201-208.
50. Weitzman ML. (2009). On modeling, and interpreting the economics of catastrophic climate change. Review of Economics, and Statistics 91(1), 1-19.
51. Zhuang J, Liang Z, Lin T, and Guzman F de. (2007). Theory, and practice in the choice of social discount rate for costbenefit analysis: a survey, ERDWorking Paper (ADB) No. 94.