Discounting of Life-Saving and Other Nonmonetary Effects

Article Abstract:

Cost-effectiveness is part of policy analysis in the federal government. Some agencies measure cost-effectiveness in nonmonetary terms. A problem that has emerged is handling monetary costs and life-saving benefits that accrue at different times. This time preference has been handled by discounting both cost and benefits when both are monetary. Any cost-effectiveness analysis using lower discount rates for benefits (nonmonetary) than for costs is not justifiable. This practice leads to patterns of spending over time that most policymakers would not accept.

Management science, Cost benefit analysis, Evaluation, Cost, Models, Policy, National Government, Operations Research, Theory, Discount

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Ageing and saving

Article Abstract:

An analysis of the economic performance of OECD member countries and their ageing population shows a direct relationship between the ability of the elderly to provide for their retirement and the economy of the country. The ability of a country to provide a measure of comfort for its ageing population via pensions and other social programs determines the saving behavior of its ageing population. However, support programs for the elderly may backlash on a country's economic performance in terms of slower investment or gross domestic product growth.

Gross Private Savings, Aging, Aged, Elderly, Economic aspects, Economic policy, Demographic aspects, Organization for Economic Cooperation and Development, Retirement benefits

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