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{\bf Some Things to Know for   G406 }
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The OMB says that agencies should estimate the deadweight loss of \$1.00 of spending to be \$0.25. 

Real returns on various assets 1926-2007 were:\\
 S\&P 500: 9.2\%. Small-firm stocks: 14.0\%. Long-term corporate bonds: 3.1\%. Long-term Treasury bonds: 2.7\%. 30-Day Treasury bills: 0.7\%. Currency: -3.1\%.

  


 The present value of X received at the end of time $t$: 
$$
PDV =  X \left( \frac{1}{1+r} \right)^t
$$
  
 The present value of X received at the end of each year forever: $\frac{X}{r}$. 

 OMB tells federal agencies to use a real discount rate of 7\% in their cost-benefit analysis for projects and regulations. 

In 2015, the Dept. of Transportation uses  \$9.1 million for the value of a statistical life in its cost-benefit analyses. 
    
  

 


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