1. Department of Economics, Pontifical Catholic University of Rio de Janeiro, Rua Marquês de São Vicente 225, Gávea, Rio de Janeiro 22451-900, Brazil ()
2. Department of Economics, University of California, Irvine, 3201 Social Sciences Plaza B, Irvine, CA 92617 ()
3. Department of Electrical Engineering, Pontifical Catholic University of Rio de Janeiro, Rua Marquês de São Vicente 225, Gávea, Rio de Janeiro 22451-900, Brazil ()
4. Central Bank of Chile and Department of Economics, Pontifical Catholic University of Rio de Janeiro (PUC-Rio), Agustinas 1180, Santiago 867, Chile ()