Publications [#267340] of Billy Pizer

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Journal Articles

  1. Newell, R; Pizer, W,. "Discounting the Benefits of Climate Change Policies Using Uncertain Rates." Resources 146 (January, 2002): 15-20. [repository]
    (last updated on 2019/06/17)

    Evaluating environmental policies, such as the mitigation of greenhouse gases, frequently requires balancing near-term mitigation costs against long-term environmental benefits. Conventional approaches to valuing such investments hold interest rates constant, but the authors contend that there is a real degree of uncertainty in future interest rates. This leads to a higher valuation of future benefits relative to conventional methods that ignore interest rate uncertainty.

Billy Pizer