Alessandro Mennuni University of Southampton and European University Institute   Via delle Fontanelle 10 alessandro.mennuni@soton.ac.uk San Domenico, Florence, I-50014 Italy   alessandro.mennuni@soton.ac.uk             JEL Areas: E2 : Macroeconomics: Consumption, Saving, Production, Employment, and Investment: General (includes Measurement and Data) H3 : Fiscal Policies and Behavior of Economic Agents: General