long varchar is just a varchar that can be longer, you can just use it as varchar. It only take larger space if the varchar data is large. I think, at some point, a normal varchar can be only 255 bytes, so people use 'long varchar' for data that more than 1K(I may be wrong).
Starting v8, all varchar can be 32K. You can just use varchar. 'long varchar' is legacy.
BTW, I believe, the name is 'DB2 for z/OS'.