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Smith's rent gap theory of gentrification has inspired a substantial amount of critical attention as well as several empirical studies. None of these studies addresses a fundamental problem with the rent gap hypothesis - namely, its dependence on a distinction between actual and potential land...
This report addresses two questions. First, did the tax and subsidy changes in Australia, Sweden and the US increase or decrease the efficiency of the allocation of capital among business uses and housing and within the housing stock? Second, did the changes alter the incentives...