  Evolution of fast, radiative shocks in high density medium is presented.
Ionizing spectra and approximate broad band light curves of the shocked gas are
calculated. Emergent shock spectra, as seen by a distant observer, are obtained
from photoionization models. The emergent spectra have a power-law shape
$F_{\nu}\propto{\nu}^{-\alpha}$ with mean spectral index $\alpha\sim0.6-1.0$ in
the energy range $0.01-10$ keV, and have a high-energy cutoff corresponding to
the original shock velocity. It is shown that the models exhibit promising
features that may account for some photometric and spectral properties of
Active Galactic Nuclei.
