Getting a clearer picture of fintechs’ business activities is essential if we are to better understand whether and in what way they might pose a threat to financial stability. It is therefore an important endeavour of the Financial Stability Board to further investigate and promote data availability. Without reliable data, any assessment of risks is unfeasible.
A second factor that may have contributed to resilience to oil price shocks is an improvement in product and labour market flexibility over time, thus facilitating the reallocation of resources and lessening the impact of oil price increases on economic activity. For instance, wage indexation appears to be less widespread at present than in the 1970s.