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"Most of the year, the exogenous shock of the Afghan War doesn't touch our lives".
With an exogenous shock like this, I think it's possible that a lot of these communities will just fold up and disappear".
"Part of the reason we haven't had gas lines this year is that there has been no serious exogenous shock to the system like we had in the 1970's," said Vahan Zanoyan, president of the Petroleum Finance Company, a Washington consulting firm.
We've got arguments that the major financial crisis was not, in fact, an entirely exogenous shock, and that maybe economists could theorise up some ways to determine when financial conditions are increasing the probability of crisis.
Of course, divorce risk cannot be considered an exogenous shock.
The migration network is regarded as the information channel through which the exogenous shock operates.
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"If the environment for investment banking improves and they don't have any other exogenous shocks, the company has the capability of earning at a much higher rate".
That means a more realistic stress to the world economy comes from bad policies and exogenous shocks.
It is worth pondering if the continued downturn has also changed attitudes towards investment and finance in the real economy.Past research has shown that exogenous shocks, such as recessions, can modify firm-level behaviour.
Veblen theorized institutional persistence and developed several mechanisms of change, including conflict between institutions, exogenous shocks, and the interplay between routines and the variable and volatile action of agents.
One method economists use to tame the statistical beast of between-country studies is "exogenous shocks".
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com