But this overlooked a crucial feature of monetary unions free capital mobility and elimination of currency risk indispensable attributes of a currency area could be (and were) the source of asymmetric shocks. Currency unions, in other words, must worry about endogenous as much as exogenous shocks.

We have increased our financing to the countries most heavily affected by food and fuel shocks. And we stand ready to provide additional support including under a new financing mechanism for countries hit by exogenous shocks to help those whom the global financial crisis has affected most severely.

It is rare to get an exogenous investment in girls' education.

16. Encourages the efforts, including those of the Bretton Woods institutions, to improve the assessment of debt sustainability in low and middle income countries through, inter alia, the development of better tools to deal with exogenous shocks and the need to take country specific factors into account

20. Welcomes the ongoing efforts, including those of the Bretton Woods institutions, to improve the assessment of debt sustainability in low and middle income countries through, inter alia, the development of better tools to deal with exogenous shocks and the need to take country specific factors into account

Stronger regional governance structures may be the only effective means of reducing exogenous geopolitical risk.

Germany s Five Shocks

Most important, the projections of exogenous factors such as export and GDP growth rates often remain too optimistic.

Well, traditional definition is an organism to which exogenous components have been added for the purpose of adapting to new environments.

Adjustment, support to trade and trade related shocks

These shocks were naturally beyond the ECB s control. The policy response, however, required preventing these shocks from becoming entrenched in medium to long term inflation expectations.

So it was a series of five painful shocks.

Did exogenous changes in income in Africa mainly drive the trade ratio when worldwide changes in trade regimes accompanied the striking change in trade ratios?

And they gave them a series of painful electric shocks.

Debt sustainability is also affected by vulnerability to external shocks.

Half of them are told that they're being given the shocks by somebody in another room, but the person in the other room doesn't know they're giving them shocks.

Small island developing States are also vulnerable to exogenous environmental and economic events, such as the dramatic increase in fuel prices, which impede their opportunities for development.

Since 1999, members of the European Monetary Union (EMU) have experienced a number of severe exogenous shocks the rise in the price of a barrel of oil from around 10 to 150 the collapse of equity markets after the dot com bubble imploded the spreading risk of terrorism after the September 11, 2001, and two wars. Starting last summer, the breakdown of the market for US sub prime mortgages triggered turbulence in financial markets, with no end in sight.

This external dependence increases their vulnerability to external economic threats and shocks.

That Committee rightly considered lack of economic diversification as an indicator of the exposure to shocks and recognized that small countries tended to be more vulnerable to external shocks than large ones (E 2005 33, paras.

Globalization has increased the vulnerability of the developing and transition economies to adverse external shocks.

Moreover, energy and food price shocks can be both large and largely unpredictable, while the speed of price changes tends to increase with big shocks. Most forecasting models used by central banks therefore put a large weight on recent inflation.

Successful coordination in fiscal and monetary affairs would enable the region to manage external shocks successfully.

It also helps to shield them from shocks and volatilities in the global economic and financial environment.

Asian economies deepening trade and financial integration has left them increasingly vulnerable to growth shocks from China, with exporters of commodities and capital goods especially vulnerable. In fact, a study by the Asian Development Bank shows that Chinese shocks have larger and more persistent effects on individual Asian economies output than do global shocks, as a 1 increase in China s GDP raised GDP in emerging East Asia by about 0.6 .

However, economic growth and expectations are constantly threatened by inappropriate macroeconomic policies, poor economic management and external shocks.

The current shocks to GDP have led to falling levels of per capita income and brought widespread poverty.

Giving the latter group exogenous growth hormone is futile, because their immune systems react to the foreign protein by producing antibodies. Although the hormone may stimulate growth for a short period, the antibodies soon bind and neutralize it.

Firms and consumers reacted to this year s shocks by temporarily slowing consumption, capital spending, and job creation. As long as the shocks don t worsen (and as some become less acute), confidence and growth will recover in the second half of the year, and stock markets will rally again.

In addition, shocks such as the tsunami disaster and avian influenza can have a significant impact on short term growth.

Nevertheless, they still face substantial difficulties in participating in services trade, and their exports are particularly vulnerable to external shocks.

Poor people tend to be more exposed to threats and are less able to absorb the shocks inherent in disasters.

Systemic risk is intrinsic to globalization. Greater openness and integration necessarily increase the potential for cascading crises and amplification of shocks.

Another, more plausible theory is that over the past fifteen years there have been various external challenges or shocks that have hit the country simultaneously. Rigid as it was, with an extensive welfare system and an over regulated labor market, Germany was unable to react to these shocks and ran into trouble.

They are facing the argument that the United States monetary union works much better because there is a large federal budget to smooth the impact of asymmetric shocks that is, shocks to individual states. The eurozone, it is claimed, should have its own budget to provide similarly automatic insurance to its members.

Sputnik quickly became one of the three great shocks to hit America historians say the equal of Pearl Harbor or 9 11.

I moved to sounds, electrical shocks I even had a pain suit that I could get people to feel much more pain.

Remittances from workers are a major, stable source of capital inflows for many developing countries, but they are nevertheless subject to shocks.

Financial and other macroeconomic restructuring initiatives therefore need to go hand in hand with measures to protect the economy from future shocks.

He was also subjected to electric shocks by being forced to urinate in hot water into which electric cables had been plunged.

The author received letters from her son which described the treatment he suffered, which included being beaten and subjected to electric shocks.

The structural disadvantages faced by small island developing States, which related to various exogenous factors and such vulnerabilities as their remoteness and smallness, inhibited investors and thwarted those States' efforts to take advantage of the forces of globalization and new trading opportunities.

If economic structures were dissimilar, then the second criterion became critical Were arrangements in place to adjust to asymmetric shocks? The two key arrangements that most economists emphasized were fiscal transfers, which could cushion shocks in badly affected regions, and labor mobility, which would allow workers from such regions to move to less affected ones.

Overall, the Canadian economy performed solidly, with sustained economic growth, low and stable inflation and interest rates, and improved resilience to economic shocks.

However, in both cases improving economic trends had begun in the early 1980s and both avoided the shocks of more conventional adjustment programmes.