Distortionary Taxation, Excessive Price Sensitivity, and Japanese Land Prices
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Japan has experienced turbulent behavior of land prices after World War II, especially after 1985. This paper first examines the explanatory power of a simple present-value model and shows its limitation. We then investigate two additional (not mutually exclusive) factors affecting the Japanese land
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美国国家经济研究局创建时间：
1999-07-01
