Declining discount rates and the Fisher Effect: inflated past, discounted future?

Uncertain and persistent real interest rates underpin one argument for using a declining term structure of social discount rates in the Expected Net Present Value (ENPV) framework. Despite being controversial, this approach has influenced both the Inter-Agency Working Group on Cost-Benefit Analysis...

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Bibliographic Details
Main Authors: Mark Freeman, Ben Groom, Ekaterina Panopoulou, Theologos Pantelidis
Format: Default Article
Published: 2015
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