Estimation of a social discount rate for Turkey

Akbulut, Hale; Seçilmiş, Erdem

doi:10.1016/j.seps.2018.10.001

Cited by 16 publications

(5 citation statements)

References 31 publications

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“…And EMR can be divided into development of failure risk, risk of product quality standardization, evil competition risk, and risk of product out of date. Enterprise risk is everywhere [5][6][7][8]; thus, optimizing company management strategy, making enterprise risk in a reasonable evaluation is an important way to keep an enterprise developing healthy for a long time.…”

Section: Introductionmentioning

confidence: 99%

Multiobjective Optimization Algorithm for EFRM Strategy

Jiang

Wang

2022

Security and Communication Networks

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With the rapid development of the global economy in recent years, market competition has become more and more intense. Therefore, the market competitiveness of the enterprises is becoming higher and higher. Among them, the enterprise financial risk management (EFRM) is one of the key factors that decide the enterprise market competition. It also shows that enhancing the enterprise market competition needs to strengthen the enterprise’s financial control and management, with the method of reasonable controlling of enterprise financial risk (EFR). The current research and development status of EFRM is combed, the theory of financial internal control and its significance are expounded, the related concepts of the company’s financial internal control are studied, and the definition, classification, basic features, and causes of financial risk are analyzed in this paper. Finally, a company is taken as research object, the characteristics and status quo of the company’s financial risk system are studied, and its existing problems are analyzed, a mathematical model for the company’s FRM is built, and the multiobjective optimization algorithm is used to optimize the model, to improve the level of a company’s FRM performance and market competitiveness and to guard against the company’s financial risk.

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Section: Introductionmentioning

confidence: 99%

Multiobjective Optimization Algorithm for EFRM Strategy

Jiang

Wang

2022

Security and Communication Networks

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“…), because for low incomes marginal and average tax rates are zero" and we restricted our analysis to only the zero-intercept case while running regressions. This methodology is followed by many authors [76]. The regressions run using weighted and unweighted observations yield almost the same results.…”

Section: Data Sourcesmentioning

confidence: 79%

Discounting for Energy Transition Policies—Estimation of the Social Discount Rate for Poland

2021

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The transition of the energy system in Poland has a long time horizon and demands a substantial investment effort supported by proper economic evaluation. It requires a precise Social Discount Rate (SDR) estimation as discounting makes the present value of long-term effects extremely sensitive to the discount rate level. However, Polish policymakers have little information on SDR: the predominant practice applies a priori fixed 5% discount rate, while studies devoted only to Poland are quite rare. To eliminate this research gap, our paper aims at estimating SDR for Poland, applicable in energy transition policies. We derive SDR for three datasets varying in length, twofold: using market rates via Consumption Rate of Interest (CRI) and Social Opportunity Cost (SOC) of capital, and prescriptive Ramsey and Gollier approaches based on Social Welfare Function (SWF). The results indicate that the rates based on CRI and SOC deviate substantially with changing data timeframes and market conditions, while prescriptive methods show much higher time stability. Due to long-term planning horizons for energy policies, we argue for adopting, as SDR in Poland, the longest dataset’s Ramsey-based rate of 4.72% which can be reduced to 4.39% by Gollier’s precautionary term (reflecting the uncertainty over future consumption growth), which are our main findings.

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“…4. For recent surveys of the literature on single-generation discounting, see Roche (2016), Kossova and Sheluntcova (2016), Akbulut and Seçilmiş (2019), and Spackman (2020). 5.…”

Section: Resultsmentioning

confidence: 99%

Discounting Environmental Benefits for Future Generations

Liu

Rettenmaier

Saving

2020

Public Finance Review

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The standard approach to evaluating a long-term project is to use the social rate of time preference to discount the benefits and costs of future generations. A difficulty with this approach is that there is no consensus on the values of the required parameters that reflect intergenerational equity concerns. Assuming the existence of a coordinating debt policy, this article establishes a project evaluation rule that identifies Pareto-improving projects and is therefore free of value judgment. This article goes beyond the existing analysis of intergenerational discounting by exploring the implications of tax distortions in the capital market that drive a wedge between the gross (before-tax) and the net (after-tax) rates of return. Our project evaluation criterion is stricter than that recommended in government guidelines, causing fewer environmental projects to be accepted.

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Estimation of a social discount rate for Turkey

Cited by 16 publications

References 31 publications

Multiobjective Optimization Algorithm for EFRM Strategy

Multiobjective Optimization Algorithm for EFRM Strategy

Discounting for Energy Transition Policies—Estimation of the Social Discount Rate for Poland

Discounting Environmental Benefits for Future Generations

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