Van Rens, Thijs, 1973-Universitat Pompeu Fabra. Departament d'Economia i Empresa2017-07-262017-07-262011-06-01Journal of Monetary Economics, 59 (1), 59 (1). January 2012http://hdl.handle.net/10230/19901Using 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.application/pdfengL'accés als continguts d'aquest document queda condicionat a l'acceptació de les condicions d'ús establertes per la següent llicència Creative Commonsinfo:eu-repo/semantics/workingPaperhours workedintensive margin labor adjustmentMacroeconomics and International EconomicsLabour, Public, Development and Health Economicsinfo:eu-repo/semantics/openAccess