The demand and financial shock group includes the shocks to government consumption, import demand, export demand preferences, monetary policy, as well as the domestic and external risk premium shocks, the shock to the survival rate of the wholesale banks, and the shock to the mark-down parameter of the retail banks.
The “Other” shock group comprises the investmentspecific technology shock, shocks to foreign variables, measurement errors, and shocks in bridge equations. See Coenen, G., Karadi, P., Schmidt, S. and Warne, A. (2018), “The New Area-Wide Model II: an extended version of the ECB's micro-founded model for forecasting and policy analysis with a financial sector”, ECB Working Paper No 2200.