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Hours Worked over the Business Cycle: Evidence from OECD Countries, 1960-2009

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  • A. Raffo

    (Federal Reserve Board)

  • L. Ohanian

    (UCLA)

Abstract

Using a newly-constructed dataset on hours per worker for OECD countries, we characterize changes in labor supply over the business cycle. We then compare the cyclical properties of the labor wedge and provide some evidence on the behavior of labor markets across countries during the Great Recession.

Suggested Citation

  • A. Raffo & L. Ohanian, 2011. "Hours Worked over the Business Cycle: Evidence from OECD Countries, 1960-2009," 2011 Meeting Papers 558, Society for Economic Dynamics.
  • Handle: RePEc:red:sed011:558
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    File URL: https://economicdynamics.org/meetpapers/2011/paper_558.pdf
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    References listed on IDEAS

    as
    1. Ohanian, Lee & Raffo, Andrea & Rogerson, Richard, 2008. "Long-term changes in labor supply and taxes: Evidence from OECD countries, 1956-2004," Journal of Monetary Economics, Elsevier, vol. 55(8), pages 1353-1362, November.
    2. Kydland, Finn E & Prescott, Edward C, 1982. "Time to Build and Aggregate Fluctuations," Econometrica, Econometric Society, vol. 50(6), pages 1345-1370, November.
    3. V. V. Chari & Patrick J. Kehoe & Ellen R. McGrattan, 2007. "Business Cycle Accounting," Econometrica, Econometric Society, vol. 75(3), pages 781-836, May.
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