Climate Change and Long-Run Discount Rates: Evidence from Real Estate
Climate Change and Long-Run Discount Rates: Evidence from Real Estate
About this item
Full title
Author / Creator
Publisher
Oxford University Press
Journal title
Language
English
Formats
Publication information
Publisher
Oxford University Press
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Scope and Contents
Contents
We show that housing markets provide information about the appropriate discount rates for valuing investments in climate change abatement. Real estate is exposed to both consumption and climate risk and its term structure of discount rates is downward sloping, reaching 2.6% for payoffs beyond 100 years. We use a tractable asset pricing model that i...
Alternative Titles
Full title
Climate Change and Long-Run Discount Rates: Evidence from Real Estate
Authors, Artists and Contributors
Author / Creator
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Primary Identifiers
Record Identifier
TN_cdi_crossref_primary_10_1093_rfs_hhab032
Permalink
https://devfeature-collection.sl.nsw.gov.au/record/TN_cdi_crossref_primary_10_1093_rfs_hhab032
Other Identifiers
ISSN
0893-9454
E-ISSN
1465-7368
DOI
10.1093/rfs/hhab032
