Andrea Carrera is an Assistant Professor of Applied Economics at Complutense University of Madrid and an Affiliated Researcher at the Complutense Institute for International Studies (ICEI). He has also been serving as a Marie Sklodowska-Curie exchange researcher in Asia and South America. His current research interests are in monetary economics and economic catch-up.Alvaro Cencini is Professor Emeritus of Monetary Economics at the Università della Svizzera italiana, Switzerland. He holds a D.phil degree from the University of Fribourg and a Ph.D. degree from the London School of Economics. He is the author of several books, contributions to books, and peer-reviewed journals on monetary economics.