Time discounting and of the cost of capital in government

被引：45
|
作者：
Spackman, M [1 ]
机构：
[1] Univ London London Sch Econ & Polit Sci, ESRC Ctr Risk Anal & Regulat, London WC2A 2AE, England
来源：
FISCAL STUDIES | 2004年 / 25卷 / 04期
关键词：
D O I：
10.1111/j.1475-5890.2004.tb00547.x
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
The literature oil public sector discounting has brought important insights, but there remain wide differences on some fundamental issues. This paper reviews the main conflicts and the reasons underlying them. It suggests practical procedures for discounting in government which are consistent with most of the literature but not with the 'efficient market' thesis that financial markets provide all the information needed to define these procedures.
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页码：467 / 518
页数：52
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