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Taux d'actualisation et rémunération du capital

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  • Gollier, Christian

Abstract

The recent literature provides arguments in favor of taking better account of the distant future in the evaluation of investments. This justifies using a smaller rate to discount long-term costs and benefits of public investments. However, in a decentralized economy in which the operators undertaking these investments face capital costs that are determined by financial markets, these arguments are useless to determine the remuneration of these capital costs.
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Suggested Citation

  • Gollier, Christian, 2015. "Taux d'actualisation et rémunération du capital," TSE Working Papers 15-589, Toulouse School of Economics (TSE).
    • Handle: RePEc:tse:wpaper:29487
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    References listed on IDEAS

    as
    1. Christian Gollier, 2012. "Pricing the Planet's Future: The Economics of Discounting in an Uncertain World," Economics Books, Princeton University Press, edition 1, volume 1, number 9894.
    2. Luc Baumstark & Pierre Ferry & Christian Gollier, 2011. "Le calcul du risque dans les investissements publics," Post-Print halshs-00958489, HAL.
    3. Robert J. Barro, 2009. "Rare Disasters, Asset Prices, and Welfare Costs," American Economic Review, American Economic Association, vol. 99(1), pages 243-264, March.
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    Cited by:

    1. Bernard Lapeyre & Emile Quinet, 2017. "A Simple GDP-based Model for Public Investments at Risk," Post-Print hal-01666574, HAL.
    2. Bernard Lapeyre & Emile Quinet, 2017. "A Simple GDP-based Model for Public Investments at Risk," PSE-Ecole d'économie de Paris (Postprint) hal-01666574, HAL.

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