Judzik, Dario; Sala, Hector - In: Journal of the Japanese and International Economies 35 (2015) C, pp. 78-98
We estimate the determinants of capital intensity in Japan and the US, characterized by striking different paths. We augment an otherwise standard Constant Elasticity of Substitution (CES) model with demand-side considerations, which we find especially relevant in the US. In this augmented...