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  1. Lexical Phonology and Morphology of Modern Standard Arabic
    A Phonological and Morphological Study of Modern Standard Arabic (MSA)
    Published: 2013
    Publisher:  LAP LAMBERT Academic Publishing, Saarbrücken

  2. Ramsey discounting of ecosystem services
    Published: 2013
    Publisher:  Univ., Inst. für Volkswirtschaftslehre, Lüneburg

    Most ecosystem services, which are essential for human well-being, are globally declining, while the production of consumption goods, measured by GDP, is still growing. To adequately account for this opposite development in public cost-benefit... more

    Niedersächsische Staats- und Universitätsbibliothek Göttingen
    No inter-library loan
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    DS 105 (281)
    No inter-library loan
    Leuphana Universität Lüneburg, Medien- und Informationszentrum, Universitätsbibliothek
    No inter-library loan

     

    Most ecosystem services, which are essential for human well-being, are globally declining, while the production of consumption goods, measured by GDP, is still growing. To adequately account for this opposite development in public cost-benefit analyses, it has been proposed - based on a two-goods extension of the Ramsey growth model - to apply good-specific discount rates for manufactured consumption goods and for ecosystem services. Using empirical data for ten ecosystem services across five countries and the world at large, we estimated the difference between the discount rates for ecosystem services and for manufactured consumption goods. In a conservative estimate, we found that ecosystem services in all countries should be discounted at rates that are significantly lower than the ones for manufactured consumption goods. On global average, ecosystem services should be discounted at a rate that is 0.9-0.3 %-points lower than the one for manufactured consumption goods. The difference is larger in less developed countries and smaller in more developed countries. This result supports and substantiates the suggestion that public cost-benefit-analyses should use country-specific dual discount rates - one for manufactured consumption goods and one for ecosystem services.

     

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    Content information
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/93527
    Series: University of Lüneburg Working Paper Series in Economics ; 281
    Subjects: discounting; ecosystem services; (de)growth; heterogeneous consumption; Ramsey model; substitution
    Scope: Online-Ressource (36 S.)