Znaczenie dyskontowania w polityce klimatycznej
The importance of discounting in the climate change policy

Summary/Abstract: The aim of this article is to analyze the role of discounting in the climate change policy. The first part of the paper provides an overview of key issues related to discounting, such as different approaches to the choice of discount rate, the components that make up the so called social rate of time preference and hyperbolic discounting. This part of the study also includes discount rates adopted by chosen economists dealing with the climate change issues. The article also discusses how the level of the discount rate affects the climate policy as well as presents conclusions drawn from the research of climate economists (especially N. Stern and W. Nordhaus) choosing different discount rates in their analysis. The conclusions relate to the optimal rate of carbon tax (carbon dioxide tax) or desired expenditure on the fight against climate change.

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