This is reasonable, as episodic observations of exceptional phenomena are generally inadequate to capture complex inter-relations between economic and financial variables. And yet those very deviations from the norm may contain precious information on how the economy works in conditions other than those usually prevailing. Much of the same reasoning applies to the analysis of financial market developments.
I have said much about how the Fourth Industrial Revolution could be changing the world of work and the implications that it might have for central banking, from monetary policy to financial stability, currency operations and payment systems.