1. AQR-IREA, Universidad de Barcelona, Av. Diagonal 690, Barcelona 08028, Spain
2. Departamento de Economía Aplicada, Universidad Autonoma de Barcelona, Bellaterra, Barcelona 08193, Spain
3. Economics Department, London School of Economics, Houghton Street, London WC2A 2AE, UK
4. School of Economics, University College Cork, College Road, Cork, Ireland
5. Grantham Research Institute, London School of Economics, Houghton Street, London WC2A 2AE, UK