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Marco Runkel from the Department of Economics, University of Munich is the main author who contributed in drafting this manuscript. This paper was written while he was employed at the University of Siegen, Germany. Marco Runkel acknowledges his thanks to Rüdiger Pethig, Thomas Eichner and an anonymous referee for helpful and constructive comments. Support from the German Research Foundation (DFG) is gratefully acknowledged by the author.
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