RDP 8907: Tax Policy and Housing Investment in Australia
Equation
V
t
=
[
{
(
1
−
u
)
p
HS
/
−
(
i
−
π
)
}
exp
−
{
(
(
i
−
π
)
/
(
i
−
c
)
)
(
s
−
t
)
}
]
t
∞
V
t
=
(
1
−
u
)
p
HS
/
(
i
−
π
)
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