Jean-François, MERTENS; Anna, RUBINCHIK - Institut de Recherche Économique et Sociale (IRES), … - 2008
For two independent principles of intergenerational equity, the implied discount rate equals the growth rate of real per-capital income, say 2%, thus falling right into the range suggested by the U.S. Office of Management and Budget. To prove this, we develop a simple tool to evaluate small...