After Harberger published his influential paper in 1962, many authors have assessed empirically whether the incidence of the corporate income tax (CIT) falls on capital owners, consumers, or workers (Krzyzaniak and Musgrave, 1963; Gordon, 1967; Arulampalam et al., 2008). Today, there is little agreement among economists about who bears the incidence of the CIT (Gruber, 2007; Harberger, 2008a,b). The reason for the little convincing evidence is that the econometric models used in the literature ignore that the factors that motivate changes in corporate tax policy are sometimes correlated with other developments in the economy and disentangling those effects from exogenous policy changes requires tremendous effort. Using annual information at the industry level for the United States, I propose to investigate the consequences of exogenous changes in corporate tax policy. The identification of these exogenous events follows the work of Romer and Romer (2009, 2010), who provide an extensive analysis of the U.S. federal tax legislation using narrative records from presidential speeches and congressional reports, among other documentations. The results validate the original predictions from Harberger (1995, 2008a). That is, in the short-term, capital owners bear the full burden of the tax. Over time, however, capital owners are able to shift this burden either by raising consumers' goods prices, or decreasing workers' wages. The magnitude of these e ects depends on the degree of capital intensity as well as the access to international markets and the availability of substitutes for the industry under consideration.

abtract This paper uses a seasonal dependence VAR model that is proposed by Olivei and Tenreyro in the year 2007.We are to assess whether the effect of a policy exogenous shock differs according to the quarter in which the shock occur. We consider Taiwan as a small open economy with flourishing international trade; the effect of exchange rate is viewed as an important transmission channel in monetary transmission mechanism. First part, we consider domestic monetary policy shock how to influence macroeconomic variables. Second part, the United State is powerful around the world. The Fed policies whether affect Taiwan macroeconomic or not. Finally, discuss an exogenous shock on the exchange rate to impact Taiwan macroeconomic.

Purchasing Power Parity (PPP) has been regarded as the most important theory to explain the exchange rate movement based on relative price levels of two countries. After 1973, more and more countries were taking the floating exchange rate system, and the real exchange is testing out to be a non-stationary time seriess. This would be some real factors to have an effect on the real exchange rate. In the article, We study how these possible factors change the real exchange rate and make use of Wu et.al (2008) and Lee (2010)¡¦s local projection to estimate the impulse responses under the non-stationary time series which has cointegration vectors, and then we compare the difference between the impulse response in conventional VAR and the impulse response in Local Projection. The emprical model we use is the smae one as in Zhou (1995) and Wang and Dunne (2003), and the rule of the data is the same as in Wang and Dunne (2003). Finally, we get the consistent conclusion with Wu et.al (2008), Zhou (1995) and Wang and Dunne (2003).

Jorda (2005) proposed the new method to estimate impulse response functions by local projection. The new method, local projection, can avoid the misspecification problem. That is, local projections are robust to misspecification of the data generating process (DGP). Wu, Lee, and Wang (2008) extended the Jorda¡¦s local projection from stationary time series I(0) to non-stationary time series I(1). It makes the local projection be a more generally applicative method for the Macroeconomic. In the article, I relax the cointegration vector which assumed to be known in the Wu, Lee, and Wang (2008) and Lee(2010). From the inference of Johansen (1995) I can get the property of super-consistent between £] and ˆ £] in the cointegration vector. I use the above condition and OLS to estimate impulse response functions, and in the asymptotic theorem, the cointegration vectors which assumed to be known or estimated by Johansen MLE are both get the consistent coefficients of impulse responses.

This paper applies a Factor-Augmented VAR model proposed by Bernanke, Boivin and Eliasz (2005) to measure the impact of the monetary policy in Taiwan. Our empirical results show that, first, the more the factors added in the benchmark VAR, the more we can explain the price puzzle problem. Second, the effect of the tightening in the monetary policy (the increase in the interbank overnight lending rate) is inconsistent with the results expected by the credit channel.

Previous studies found large biases between individual observational and model estimates of historical ocean anthropogenic carbon uptake. We show that the largest bias between the Coupled Model Intercomparison Project phase 5 (CMIP5) ensemble mean and between two observational estimates of ocean anthropogenic carbon is due to a difference in start date. After adjusting the CMIP5 and observational estimates to the 1791-1995 period, all three carbon uptake estimates agree to within 3Pg of C, about 4% of the total. The CMIP5 ensemble mean spatial bias compared to the observations is generally smaller than the observational error, apart from a negative bias in the Southern Ocean and a positive bias in the Southern Indian and Pacific Oceans compensating each other in the global mean. This dipole pattern is likely due to an equatorward and weak bias in the position of Southern Hemisphere westerlies and lack of mode and intermediate water ventilation.

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No / The relationship between exports and economic growth has been analysed by a number of recent empirical studies. This paper re-examines the sources of growth for the period 1971-2001 for India. It builds upon Feder's (1983) model to investigate empirically the relationship between export growth and GDP growth (the export led growth hypothesis), using recent data from the Reserve Bank of India, and by focusing on GDP growth and GDP growth net of exports. We investigate the following hypotheses: (i) whether exports, imports and GDP are cointegrated using the Johansen approach and Breitung's nonparametric cointegration test; (ii) whether export growth Granger causes GDP growth; (iii) and whether export growth Granger causes investment. Finally, a VAR is constructed and impulse response functions (IRFs) are employed to investigate the effects of macroeconomic shocks.

The hospital sound environment is complex. Emergency Departments (EDs), in particular, have proven to be hectic work environments populated with diverse sound sources. Medical equipment, alarms, and communication events generate noise that can interfere with staff concentration and communication. In this study, sound measurements and analyses were conducted in six hospitals total: three civilian hospitals in Atlanta, Georgia and Dublin, Ohio, as well as three Washington, DC-area hospitals in the Military Health System (MHS). The equivalent, minimum, and maximum sound pressure levels were recorded over twenty-four hours in several locations in each ED, with shorter 15-30 minute measurements performed in other areas. Acoustic descriptors, such as spectral content, level distributions, and speech intelligibility were examined. The perception of these acoustic qualities by hospital staff was also evaluated through subjective surveys. It was found that noise levels in both work areas and patient rooms were excessive. Additionally, speech intelligibility measurements and survey results show that background noise presents a significant obstacle in effective communication between staff members and patients. Compared to previous studies, this study looks at a wider range of acoustic metrics and the corresponding perceptions of staff in order to form a more precise and accurate depiction of the ED sound environment.