Belke, Ansgar - In: Credit and Capital Markets – Kredit und Kapital 51 (2018) 4, pp. 587-619
of weak demand can lead to rising structural unemployment and a permanently lower capital stock – the hysteresis effects …) policies to cope with hysteretic unemployment is neither necessary nor sufficient. Instead, subtler forms of hysteresis should … be taken into account. They leave some room for monetary policy to maneuver, more complex way. If long-term unemployment …
