# Prof. Johannes Stroebel's research on long-term discount rates is featured

1 Faculty News April 16, 2015 ![The Economist logo](/sites/default/files/styles/246w/public/assets/images/uat_025662.jpg?itok=1_MW1PTy)>

Excerpt from [The Economist](http://www.economist.com/blogs/freeexchange/2015/04/very-long-run-discount-rates) -- "Financial assets indicate how society values time. However, not many assets exist for very long but finite time periods... This is a problem when thinking of things far into the future—such as the long-term economic impacts of climate change... New research by Stefano Giglio, Matteo Maggiori and [Johannes Stroebel](http://www.stern.nyu.edu/faculty/bio/johannes-stroebel) of Chicago, Harvard and New York Universities tries to get around this problem. They exploit a quirk in the British and Singaporean real-estate markets... With this, the three economists can estimate the discount rate used to value very long-term assets."

[Read more](http://www.economist.com/blogs/freeexchange/2015/04/very-long-run-discount-rates)