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Intergenerational Discounting with Intragenerational Inequality in Consumption and the Environment

机译：代际折扣，消费和环境中的耐肿大不等式

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摘要

It is now established that the consumption discount rate is determined by the growth of consumption multiplied by the elasticity of marginal utility, but distributive concerns are rarely reflected in the literature. Assuming a social welfare function with inequality aversion, we consider a consumption discount rate that can be decomposed into the growth effect and the intragenerational distribution effect. The framework is then extended to include population change and inequality in the environment as an amenity in a utility with constant elasticity of substitution. Numerical examples illustrate that distributional effects turn non-negligibly negative, that may reduce consumption discount rate by 1-3% for plausible parameters, once distribution is adjusted for both population and the environment.
机译：现在已经确定，消费折扣率取决于消费增长乘以边际效用的弹性，但分配问题很少在文献中反映。假设具有不等式厌恶的社会福利功能，我们考虑消费折扣率，可以分解为增长效果和耐核化分配效果。然后将该框架扩展到环境中的群体变化和不平等是具有恒定弹性的效用中的舒适性。数值示例说明了分布效果转向不可忽视的阴性，这可能会降低1-3％的合理参数，一旦对人口和环境调整了分发。

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