In particular, as I have described today, I think its most significant and lasting contribution has been in instituting a number of important surveys, most prominently the consumer sentiment series, the inflation expectations series and, more recently, the HILDA panel data series. These surveys have facilitated a better quality of macroeconomic analysis, through the wealth of data contained in them.
I will begin by briefly discussing what I mean by financial system stability and why it is important. I will then consider some of the weaknesses that the crisis has exposed in risk-management practices, and suggest possible measures to enhance the management of risk in the future.