1. Department of Management and Economics, University of Madeira, Campus da Penteada, Funchal, Portugal
2. Centre of Applied Economic Studies of the Atlantic (CEEAplA), Ponta Delgada, Portugal
3. Institute for the Study of Labor (IZA), D-53072 Bonn, Germany
4. Bank of Italy, Structural Economic Analysis Directorate, Via Nazionale 91, Rome, Italy