If the President of the European Economic Association is kind enough to invite again the President of the ECB in the future, I consider it likely that the time will come when the speech of the ECB President will concentrate in explaining the consequences of the upward jump in total factor productivity and labour productivity in Europe.
Specifically, there is a possibility that demand for homes, cars, and eating out will decrease, while demand for health and nursing care, as well as businesses such as tours targeting the elderly will increase. A key to winning competition is how firms will be able to respond to such substantial shift in demand for goods and services.