At the same time, a new generation of DSGE models could, in principle, also be extended to incorporate the interaction of multiple sectors and portfolio behaviour. On the empirical side, VAR approaches can be a suitable way to establish stylized facts on how flow-of-funds variables interact with macroeconomic variables in the monetary policy transmission.
Obviously, diverse financial structures and the impact of financial innovation are likely to affect relationships over time. In terms of the practical use of the accounts, I do see a promising future ahead after the tsunami of the financial crisis. Among the broader lesson that we have learned: Two pillars are better than one pillar in underpinning a broad-based approach to monetary policymaking.