| Title |
Classification and interpretation of macroeconomic exogenous shocks – the case of Lithuania / |
| Translation of Title |
Makroekonominių egzogeninių šokų klasifikavimas ir interpretavimas (Lietuvos pavyzdžiu). |
| Authors |
Karpavičius, Henrikas |
| Full Text |
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| Is Part of |
Socialiniai tyrimai = Social Research.. Šiauliai : VšĮ Šiaulių universiteto leidykla. 2012, Nr. 2(27), p. 89-97.. ISSN 1392-3110 |
| Keywords [eng] |
exogenous macroeconomic shocks ; transitory and permanent shocks ; case of Lithuania |
| Abstract [eng] |
While the notion of exogenous shocks has been part of economic discourse for a long time, the severity of recent shocks, especially in the financial sector culminating with a collapse of a major global bank in 2008, has had enormous real economic effects in terms of employment and output. This makes the task of identifyin, classifying and measuring economic shocks most important, parti larly in the context of possible both macro and microeconomic policy prescriptions that could potentially soften the effects of such shocks. This paper reviews economic literature on different interpretation and measurement of economic exogenous shocks. A notion of economic shock as a 'proces' (as opposed to an identifiable and measurable 'event') is expounded. Classification of exogenous shocks into transitory and permanent is offered, a distinction that has important implications for relevant policy response which can either amplify or dampen the economic effects of shocks is laid out. |
| Published |
Šiauliai : VšĮ Šiaulių universiteto leidykla |
| Type |
Journal article |
| Language |
English |
| Publication date |
2012 |
