First Author:   Clara Graziano University of Udine, Department of Economics and Statistics clara.graziano@uniud.it   via Tomadini 30 Udine, 33100, Italia   +39 0432 249216(Phone) +39 0432 249216(Fax) Second Author: Annalisa Luporini University of Florence, Department of Economics annalisa.luporini@unifi.it   via delle Pandette, 32 Florence, 50127, Italy   +39 055 2759612(Phone)