NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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The Discount Rate for Public Policy over the Distant Future

Qingran Li, William A. Pizer

NBER Working Paper No. 25413
Issued in December 2018, Revised in December 2019

---- Acknowledgments ----

Previously circulated as "Discounting for Public Cost-Benefit Analysis." We thank William Cline, Alex Marten, Dalia Patino-Echeverri, Martin Smith, Steven Sexton, and Juan-Carlos Suárez Serrato for comments and feedback, as well as Helen Ladd for helpful discussions. Jeffrey Vincent provided invaluable comments on an earlier draft. Xiaochen Sun provided excellent research assistance. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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