The joint consideration of micro and macro evidence for the same phenomena, and of related stocks and flows, raises important issues of consistency, an old problem made more evident today by the richness of available statistics; indeed, the micro/macro and stocks/flows reconciliation are a challenge for all statistical bodies;  5.
And, obviously, there is a need to pay attention to both stocks and flows. These observations hold for economic and statistical research at the Bank in general. They are evidence of the Bank of Italy’s long-standing effort to stimulate cross-fertilisation and dialogue among different research areas, avoiding what is sometimes called the “silos culture”.