The World s Biggest Shock Absorber

However, these three sectors functioned as the economy's shock absorber and managed to provide employment at the time of crisis.

It has a shock absorber in it so it, like, Shhhh, makes this neat sound when you jump around on it. All right.

With limited labor mobility, and the euro removing the other shock absorber (exchange rate adjustments), great pressure will fall on those countries with the worst downturns.

Ireland s accumulation of wealth during its Celtic Tiger period, when the country surged toward the top of Europe s economic league table, has also been an effective shock absorber.

Peter Kenen argued in the late 1960 s that without exchange rate movements as a shock absorber, a currency union requires fiscal transfers as a way to share risk.

On balance, the euro has been a success, but it does balance gains from price transparency and decreased transaction costs against the loss of independent monetary policies and a currency adjustment shock absorber.

With no separate currencies to adjust, the only shock absorber left is labor migration to areas with lower unemployment for example, from southern to northern Europe. Such migration is easier in the US than within the euro zone or even within European countries.

The case of Spain illustrates another feature of European economies that makes it difficult to argue for a federal unemployment scheme. Spanish unemployment is now close to 30 , which a priori should be a good justification for some form of shock absorber.

Watch the rear.

I rear cattle.

The other natural shock absorber is a depreciating currency, which increases competitiveness in the area hit hardest. That cannot happen with a common currency, and economic adjustment is doubly difficult when labor is not mobile enough to help mitigate regional contractions in income and unemployment.

On 22 August 2006, Rear Adm. Iqbal was relieved by German Rear Admiral Heinrich Lange.

Car 2, Rear View

I'm in the rear car.

The rear gate was open.

Rear end collisions often cause whiplash.

He attacked me from the rear.

The rear view mirror fell off.

First thing for my wife, and the most common thing I hear from my patients, particularly in the 40 to 80 year old age group, 70 year old age group, is they come in and say, Hey, Doc, isn't there just a shock absorber you can put in my knee?

I am at the rear of him.

Watch the rear. I'll watch the front.

Tom glanced at the rear view mirror.

There's an emergency exit in the rear.

The Boehner Shock

Shock and Panic

Policymakers should be wary of imposing a regulatory shock simultaneously with a fiscal shock.

Smokers are asked to occupy the rear seats.

Please move to the rear of the bus.

They had a dent in the rear door.

I was rear ended by a pickup truck.

The rear tire of my bicycle is flat.

Rear tyres are now fitted on the front.

Air typically passes along the front or back of the absorber plate while scrubbing heat directly from it.

I was in shock.

Layla watched in shock.

My mother worked hard in order to rear us.

Many people pushed their way toward the rear exit.

You people go ahead. We'll bring up the rear.

Tom looked at himself in the rear view mirror.

The hijackers moved to the rear of the plane.

It was such a shock.

It was such a shock.

The Nixon Shock Doctrine Revisited

Speak louder for the benefit of those in the rear.