Shocks, structural (structural shocks)

In the language of the ECB, events that disrupt the steady growth of productivity. They are classified as: – technology shocks, which affect supply-side developments; – demand shocks, which affect household and government spending; – mark-up shocks, such as the oil price shock, which may trigger second-round effects that fuel inflation; and – external shocks, such as a hurricane shock or a terrorist shock. – Technology shocks are divided into transitory, permanent and investment-specific shocks. – See baseline, crash, ripples, shock response, monetary, stress test, trend forecasts. – Cf. ECB Monthly Bulletin, January 2008, pp. 72 ff. (further explanations; overviews).

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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
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