Ohanian, Lee E.; Raffo, Andrea - 2011
-assess productivity and labor wedges during the Great Recession and during prior recessions. We find that the Great Recession in many OECD … countries is a significant puzzle in that labor wedges are quite small, while those in the U.S. Great Recession - and those in … fraction of labor market adjustment takes place along the intensive margin outside the United States, and that the volatility …