Very Long-Run Discount Rates

By Stefano Giglio, Matteo Maggiori, Johannes Stroebel. 2015

235 citations recorded by the source corpus.

Subfields: Accounting, Demography, Economics and Econometrics

View Paper: https://www.semanticscholar.org/paper/936c7cb38ab3dba733bfb82ce1056e83c1385b74

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Citations in the corpus

Housing, Finance and the Macroeconomy (2014, unknown): “Finally, recent work by Giglio, Maggiori, and Stroebel (2014) compares the prices of freeholds (indefinite ownership of property) to those of leaseholds (very long-term but finite ownership) in England, Wales, and Singapore.”
Does Climate Change Affect Real Estate Prices? Only If You Believe In It (2020, unknown): “975 as suggested by Giglio et al. (2015). Equating (17) to 1.”
Sea Level Rise and Municipal Bond Yields (2020, unknown): “Giglio, Maggiori, and Stroebel (2014) and Giglio et al. (2015) show that low discount rates should be used to discount the long-run risks of climate change. We build on this body of work by showing that the cost of debt financing depends on location-specific exposure to climate risk. Our paper is cl”
Five Facts about Beliefs and Portfolios (2019, unknown): “This finding suggests that the substantial decline in expected returns following the crash was associated with only a modest active reduction in equity shares (see also Giglio et al., 2020). However, even the somewhat higher elasticity during the relatively calm period in the stock market between Fe”
Tipping elements and climate–economic shocks: Pathways toward integrated assessment (2016, background): “If realizing a committed change takes many centuries or longer, discounting far-out damages becomes perhaps the most important aspect of evaluating the seriousness of any one particular tipping point [Gollier, 2012; Arrow et al., 2013, 2014; Giglio et al., 2015].”
The Price of Variance Risk (2015, unknown): “We begin by exhibiting our main pricing result in a simple reduced-form setting: investors pay to hedge realized volatility but not shocks to expected volatility.”
House Price Beliefs And Mortgage Leverage Choice (2017, background): “…services, such as Facebook, LinkedIn, Twitter, eBay, Mint, Trulia, and Zillow, can have in helping researchers overcome important measurement challenges across the social sciences (see, for example, Baker, 2018; Giglio et al., 2015; Einav et al., 2015; Piazzesi, Schneider and Stroebel, 2015).”