Inflation Risk as a Determinant of the Discount Rate in Tort Settlements: Reply
回应Vernon教授关于侵权和解中税收处理的评论，考察了四种计算未来收入现值的方法，包括短期免税收益率、市政债券收益率、短期应税收益率和税后应税收益率。
Professor Vernon's comment deals with the treatment of taxes in tort settlements. He considers four approaches to resolving the problem of including taxes in the calculation of the present value of a lost stream of future income: 1) a short-term tax-exempt yield, 2) a municipal bond yield, 3) a short-term taxable yield, and 4) a taxable yield reduced by taxes. Each of these approaches will be examined below.