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A technology shock is the kind resulting from a technological development that affects productivity. If the shock is due to constrained supply, it is termed a supply shock and usually results in price increases for a particular product. Supply shocks can be produced when accidents or disasters occur.
In the short run, an economy-wide negative supply shock will shift the aggregate supply curve leftward, decreasing the output and increasing the price level. [1] For example, the imposition of an embargo on trade in oil would cause an adverse supply shock, since oil is a key factor of production for a wide variety of goods.
OPEC oil price shock (1973) Energy crisis (1979) 1972–1973 Indian economic crisis; 1973–1975 recession; Secondary banking crisis of 1973–1975, in the UK; 1979–1980 Indian economic crisis; Latin American debt crisis (late 1970s to early 1980s), the "lost decade"
Economists and analysts have been calling the imminent return of federal student loan payments a likely shock to the economy for months. Nearly 44 million borrowers will start paying an average of ...
Central banks reducing emergency stimulus too quickly and further supply chain disruption are among the top risks to the world economy next year as the COVID-19 pandemic lingers, according to ...
During the 2007–2008 financial crisis and the Great Recession, a negative demand shock in the United States economy was caused by several factors that included falling house prices, the subprime mortgage crisis, and lost household wealth, which led to a drop in consumer spending.
That is, the global economy was subject to one shock with multiple implications rather than to two separate shocks (financial and oil)." [ 383 ] Long-only commodity index funds became popular – by one estimate investment increased from $90 billion in 2006 to $200 billion at the end of 2007, while commodity prices increased 71% – which ...
Climate change tests the insurance industry and could lead to the 'next big economic shock' for the U.S. David Knowles. September 24, 2024 at 12:08 PM.