First Author:   George Hondroyiannis Bank of Greece, Economic Research Department and Harokopio University ghondr@hua.gr   Bank of Greece, Economic Research Department,, El. Venizelou 21, Athens, 10250, Greece   0103202429(Phone) 0103202429(Fax) Second Author: Evangelia Papapetrou University of Athens and Bank of Greece, Economic Research Department epapapet@econ.uoa.gr   Bank of Greece, Economic Research Department,, El. Venizelou 21 Athens, 10250, Greece   0103202362(Phone) 0103233025(Fax)