1. Faculty of Business Administration and Economics, University of Passau, Innstrasse 27, 94032 Passau, Germany (e-mail: )
2. Ifo Institute, Poschingerstrasse 5, 81679 Munich, Germany (e-mail: )
3. Department of Economics, University of Munich, Schackstrasse 4, 80539 Munich, Germany and Ifo Institute, Poschingerstrasse 5, 81679 Munich, Germany (e-mail: )