How important is the intensive margin of labor adjustment?
Thijs van Rens ()
Economics Working Papers from Department of Economics and Business, Universitat Pompeu Fabra
Using new quarterly data for hours worked in OECD countries, Ohanian and Raffo (2011) argue that in many OECD countries, particularly in Europe, hours per worker are quantitatively important as an intensive margin of labor adjustment, possibly because labor market frictions are higher than in the US. I argue that this conclusion is not supported by the data. Using the same data on hours worked, I find evidence that labor market frictions are higher in Europe than in the US, like Ohanian and Raffo, but also that these frictions seem to affect the intensive margin at least as much as the extensive margin of labor adjustment.
Keywords: hours worked; intensive margin labor adjustment (search for similar items in EconPapers)
JEL-codes: E24 E32 (search for similar items in EconPapers)
Date: 2011-06, Revised 2011-10
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Working Paper: How Important is the Intensive Margin of Labor Adjustment? (2011)
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