First Author:   Peter L. Rousseau Vanderbilt University Peter.L.Rousseau@Vanderbilt.Edu   Department of Economics, Vanderbilt University, Box 1819 Station B Nashville, 37235, USA   615 343 2466(Phone) 615 343 2466(Fax) Second Author: Paul Wachtel Leonard N. Stern School of Business, New York University pwachtel@stern.nyu.edu   New York University, New York University, 44 W. 4 St. New York, 10012