In this paper, the power response of power electronic loads in case of voltage drops are measured and their dynamics are analysed. Based on this, dynamic simulation models are derived which can be used for voltage stability investigations. For this, four loads with different power factor techniques are considered. In addition, the impact of the grid impedance and input filter on the power response are measured in the laboratory. Based on the measurements, the simulation models are described. It is also outlined under which aspects the components of the loads are normally dimensioned if no detailed information is available. A comparison with the measurements demonstrates that the simulation models capture the main dynamics. At the end of the paper, the load models are compared to a constant power load in a short-term voltage stability use case. The results indicate that the power electronic loads have a more positive influence on short-term voltage stability in case of voltage drops. Overall, the contributions of the paper are the identification of the basic power dynamics of power electronic loads for different voltage drops and a subsequent derivation of suitable simulation load models for voltage stability investigations.