The Effects of Inflation-Induced Tax Increases on Stock and Housing Prices
研究1970年代房价大幅上涨是否源于通胀与歧视企业资产的税收制度相互作用，通过动态理性预期两部门模型发现，通胀导致的税收增加并不必然推高房价。
This paper explores the contention that the dramatic increase in the real price of housing experienced during the 1970s was a cons equence of the interaction of increasing inflation with a nonneutral tax system that discriminates against corporate-held assets. In the c ontext of a dynamic rational-expectations, two-sector (housing servic es and a corporate produced background good) model in which capital a llocation responds to changes in the corporate tax rate, it is demons trated that there is no reason to expect housing prices to rise with inflation-induced increases in taxes. Copyright 1987 by The editors of the Scandinavian Journal of Economics.