chapter  1
Household Vulnerability and Resilience to Economic Shocks in Melanesia: An Overview
Pages 22

Shocks are sudden events which impact on well-being. Covariate shocks are events that have impacts on entire countries or communities and include natural disasters as well as economic shocks such as price hikes and recessions. Idiosyncratic shocks affect only the household and include, for example, the death or illness of a family member or the loss of a job.