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- W68919783 abstract "Using net discount rates rather than separately projecting wage increases and gross discount rates is one of the two methods allowed and the method seemingly preferred in the most important federal case involving economic methods, Jones & Steel Co. v. Pfeifer (1983). However, as is known by all competent forensic economists, both net and gross systems should produce the same calculations of lost earnings if corresponding assumptions are made. One goal of this paper is to demonstrate that fact in a way that will be easily understood by judges in future cases. That demonstration involves the wage growth rate from an existing market discount rate. The second goal of this paper is to show how the calculation process can be useful in two other ways in actual case presentations of lost future payment streams. Any current market interest rate that is used as a gross discount rate implicitly is a forward forecast of future interest rates, while any use of historical wage increases is simply a projection of past trends. Using a back calculated rate of wage increase is one way of forecasting the future rate of wage increase in a way that is inherently consistent with the selection of a market discount rate. This projected rate can then be compared with the past trends to consider the reasonableness of the net discount rate being used. The third use involves calculating a damage fund distribution table that can be used to demonstrate to a jury how a damage loss table calculated from a present value formula works, with the fund declining to a zero balance in the last year of projected damages." @default.
- W68919783 created "2016-06-24" @default.
- W68919783 creator A5003295744 @default.
- W68919783 date "1999-02-24" @default.
- W68919783 modified "2023-09-24" @default.
- W68919783 title "Back Calculating Nominal Wage Rates from Nominal Discount Rates: A Useful Exercise in Forensic Economic Analysis" @default.
- W68919783 hasPublicationYear "1999" @default.
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