First Author:   Luca Bossi Department of Economics, University of Miami l.bossi@miami.edu   Department of Economics, University of Miami, 523-G Jenkins Building, 5250 University Drive Coral Gables, 33124-6550, USA   305-284-4397(Phone) 305-284-4397(Fax) Second Author: Pere Gomis-Porqueras Department of Economics, University of Miami gomis@miami.edu   Department of Economics, University of Miami, 5250 University Drive Coral Gables, 33124-6550, USA