Contemporary Macroeconomic Role of Exogenous Shocks

Authors:

Pages: 188-198
DOI: https://doi.org/10.54664/GFRB9230

Abstract:

The study focuses on the idiosyncrasies of contemporary exogenous shocks and their macroeconomic role as determinants of the business cycle dynamics. On the one hand, it analyzes the place of exogenous shocks in contemporary research approaches. On the other hand, it derives the key parameters of those types of shocks that determine their significant role as contemporary fluctuation factors, decisively influencing macroeconomic activity. The COVID-19 pandemic and the 2010 Haiti earthquake are used in the scientific investigation.

Keywords:

exogenous shocks; business cycle; macroeconomic activity; COVID-19.

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