Looking at the national balance sheets would also be useful to acquire a sense about the potential for adjustment, and they will give a sense of the possible impact of relative price changes on the value of assets and liabilities.
they cannot be modelled with probability distributions and thus could not have been predicted by central banks, economic and financial organisations, academics or governments. As long as the war in Ukraine continues and keeps shaking the world, along with other geopolitical tensions, uncertainty about economic developments remains heightened.