Tax Reform and Housing Demand: The Distribution of Welfare Gains ...

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reform, which can be found in Brownstone et a1. ..... Max u(z, ho, hR). Sotn z + DphO + (l--D)RhR = Dyo + (l—D)yR. D = O ' if hR > 0 ... s-t. z + p ho= yO (llb) and.