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The Public-Sector Discount Rate for Canada: Some Further Observations

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  • Glenn P. Jenkins

Abstract

The increased interest by economists in the theoretical and empirical foundations of criteria to be used in making public-sector investment decisions in an encouraging development. Presently, as the federal government and several provinces are experiencing serious budgetary deficits while simultaneously facing demands to undertake a wide variety of major investment expenditures in areas such as energy supply and transportation, the determination of the empirical magnitude of the opportunity cost of the resources the public sector utilizes is an important topic in public policy research. The papers by Harry Campbell (1981) and David Burgess (1981) contribute to this discussion as does a previous comment by M. T. Sumner (1980); however, only a modest effort has been made to date to further the basic empirical research that is required to provide decision makers with improved estimates of this parameter.
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  • Glenn P. Jenkins, 1981. "The Public-Sector Discount Rate for Canada: Some Further Observations," Canadian Public Policy, University of Toronto Press, vol. 7(3), pages 399-407, Summer.
    • Handle: RePEc:cpp:issued:v:7:y:1981:i:3:p:399-407
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    References listed on IDEAS

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    1. Harry F. Campbell, 1981. "Shadow-Prices for the Economic Appraisal of Public Sector Expenditures," Canadian Public Policy, University of Toronto Press, vol. 7(3), pages 395-398, Summer.
    2. Danny M. Leipziger, 1974. "Capital Movements and Economic Policy: Canada Under a Flexible Rate," Canadian Journal of Economics, Canadian Economics Association, vol. 7(1), pages 59-74, February.
    3. Robin W. Boadway & Frank R. Flatters, 1981. "The Efficiency Basis for Regional Employment Policy," Canadian Journal of Economics, Canadian Economics Association, vol. 14(1), pages 58-77, February.
    4. Peter G. Warr & Brian D. Wright, 1981. "The Isolation Paradox and the Discount Rate for Benefit-Cost Analysis," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 96(1), pages 129-145.
    5. Boskin, Michael J, 1978. "Taxation, Saving, and the Rate of Interest," Journal of Political Economy, University of Chicago Press, vol. 86(2), pages 3-27, April.
    6. David F. Burgess, 1981. "The Social Discount Rate for Canada: Theory and Evidence," Canadian Public Policy, University of Toronto Press, vol. 7(3), pages 383-394, Summer.
    7. Michael J. Boskin, 1978. "Taxation, Saving, and the Rate of Interest," NBER Chapters, in: Research in Taxation, pages 3-27, National Bureau of Economic Research, Inc.
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    Cited by:

    1. Glenn Jenkins & Chun-Yan Kuo & Arnold C. Harberger, 2011. "Cost-Benefit Analysis for Investment Decisions: Chapter 8 (The Economic Opportunity Cost of Capital)," Development Discussion Papers 2011-08, JDI Executive Programs.
    2. Jack M. Mintz & Thomas A. Wilson, 1995. "Realization and Revenue Effects of Lifetime Capital Gains Exemptions," Canadian Public Policy, University of Toronto Press, vol. 21(s1), pages 174-192, November.
    3. Mark A. Moore & Anthony E. Boardman & Aidan R. Vining & David L. Weimer & David H. Greenberg, 2004. "“Just give me a number!” Practical values for the social discount rate," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 23(4), pages 789-812.
    4. Glenn Jenkins & Chun-Yan Kuo, 2007. "The Economic Opportunity Cost of Capital for Canada - An Empirical Update," Development Discussion Papers 2007-04, JDI Executive Programs.
    5. Ronald G. Wirick, 1982. "Prospects for the World Petroleum Market and Implications for Canadian Policy," Canadian Public Policy, University of Toronto Press, vol. 8(4), pages 534-553, Autumn.
    6. Chun-Yan Kuo & Sener Salci & Glenn P. Jenkins, 2015. "Measuring the Foreign Exchange Premium and the Premium for Non-Tradable Outlays for 20 Countries in Africa," South African Journal of Economics, Economic Society of South Africa, vol. 83(2), pages 269-285, June.
    7. Glenn Jenkins & CHUN-YAN KUO & JOHN GIRALDEZ, 2007. "Canadian Regulatory Cost-Benefit Analysis Guide," Development Discussion Papers 2007-03, JDI Executive Programs.
    8. Michael Power & Elizabeth Jewkes, 1992. "The Commercial Potential of Nova Scotian Natural Gas," Canadian Public Policy, University of Toronto Press, vol. 18(1), pages 76-88, March.
    9. Peter S. Spiro, 1984. "Exchange Rate Risk and the Cost of Foreign Capital," Canadian Public Policy, University of Toronto Press, vol. 10(1), pages 54-63, March.
    10. Chun-Yan Kuo & Steven Clark, 1991. "An Evaluation of the Exploration Tax Credit," Development Discussion Papers 1991-14, JDI Executive Programs.

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