Judzik, Dario Simon; Lorda, Hector Sala - Departament d'Economia Aplicada, Universitat Autònoma … - 2014
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...