On the other hand, episodic observation of exceptional phenomena is inadequate to capture the often complex inter-relations between economic variables; it is only by building up a sufficient number of observations that we can obtain a statistically reliable estimate of a model’s parameters.
The NBS was also the “first resort” during the crisis, as we took a range of measures to support households, corporates and the government to weather this crisis financially when such support was most needed. In that way, we preserved access to sources of funding and secured even more favourable financial conditions.