14 There were, of course, also salient exceptions from the rule (e.g. Hartmann, Straetmans and de Vries (2004),  Asset market linkages in crisis periods, Review of Economics and Statistics, 86(1), 313–326, although the relapse to a normally distributed world seems to be irresistible to the mainstream (e.g. Adrian and Brunnermeier, CoVaR, American Economic Review, 106(7), 1705–1741). 15 Wickens, M. (2010).
Another source of uncertainty is how Australians will respond to the easing of restrictions, given that the easing is likely to take place with COVID-19 still circulating in the community. This is quite different from our earlier experience, when the number of cases was close to zero, and there was a very quick bounce-back.