1. Princeton University, Department of Economics, Fisher Hall, Princeton, NJ 08544–1021, BREAD, and NBER.
2. Columbia Business School, 3022 Broadway, Uris Hall 606, New York, NY 10027.
3. Dartmouth College, Department of Economics, 6106 Rockefeller Hall, Hanover, NH 03755, BREAD, CEPR, and NBER.
4. International Monetary Fund, Asian and Pacific Department, 700 19th Street NW, Washington, DC 20431.