Alexius, Annika (contributor); Holmlund, Bertil (contributor) - 2008
. An extended measure of unemployment includes also those “latent job
seekers” who are jobless, willing and able to work … ten years. In fact, their
estimated impulse response returns to zero already after four years. Hence monetary policy
has … gap returns to
zero after 23 quarters, while the effect on unemployment still persists also after ten years …