Labor force participation is influenced by many factors, including the age structure of the population and individuals’ perceptions of the availability of jobs. BIS central bankers’ speeches  1  Participation rose steadily from the 1970s through the 1990s as increasing numbers of women entered the formal workforce.
In particular, I wish to focus on the international transmission of the ECB’s monetary policy, which is central to evaluating how our monetary policy affects both the euro area economy and, through various spillover mechanisms, the global economy. [3] The euro area is deeply integrated into the global economy, which means that our analysis universally needs to take into account open-economy dimensions.