Recall how financial stability is typically defined: as the ability of the financial system to function even during periods of stress and structural change. However, monitoring of vulnerabilities in the financial system tends to focus on the functioning of the system during periods of financial stress.
We have few analytical tools to assess how the financial system would operate during a process of structural change: Most macro models focus on shorter-term dynamics, but structural change is, by its nature, hard to predict and model. We need a better understanding how both rapid structural change but also a delayed process will affect the financial system.