You could create a macro with an application like Keyboard Maestro, iKey or QuicKeys.
Many of them also supports something like quick macros. In KBM you can press ⌃F1 to start or stop recording a macro, and then play it back with ⌥F1:

Keypresses can also be emulated with AppleScript:
activate app "TextEdit"
delay 0.5 -- if the script is run with a shortcut that has modifier keys
tell app "System Events"
keystroke "aaa"
key code 123 using {shift down, command down} -- ⇧⌘←
end tell
You can run and save scripts with AppleScript Editor and assign shortcuts to them with a utility like FastScripts or by saving them as a services with Automator or ThisService.
The AS keystroke command can only be used to output characters that are found on the current keyboard layout though. It substitutes other characters with some related character or key code 0 (a on QWERTY). Like tell app "System Events" to keystroke "†‡▲ö" outputs ‡‡aa on a U.S. layout.
Inserting longer strings of text with keystroke also takes a visible amount of time. (Like a few seconds for 1000 characters on my Air.)
Another way to insert text is to use the clipboard:
try
try -- the clipboard can be empty
set old to the clipboard
end try
set the clipboard to "†‡▲ö"
delay 0.3 -- time to release modifier keys
tell application "System Events" to keystroke "v" using command down
delay 0.03 -- often needed after keystroke and key code commands
set the clipboard to old
-- the script is wrapped in a try block,
-- so if `old` is unassigned, it will stop and not display an error message
end try