7  See Christiansen, L., M. Schindler and T. Tressel (2013): “Growth and Structural Reforms: A New Assessment”, Journal of International Economics 89(2): 347-356; and Prati, A., M. Onorato and C. Papageorgiou (2013): “Which Reforms Work and under What Institutional Environment? Evidence from a New Data Set on Structural Reforms”, The Review of Economics and Statistics 95(3): 946-968.
In a historic move in July, the ECB raised rates by 50 basis points, bringing the eight-year-long period of negative interest rates to an end.