1. Institute for Employment Research (IAB), Research Department Forecasts and Macroeconomic Analyses Regensburger Str. 100 Nuremberg Bavaria 90478 Germany
2. Fondazione CRC Via Roma 17 Cuneo 12100 Italy
3. University of Turin Via Giuseppe Verdi 8 Torino 93053 Germany
4. University of Regensburg Universitätsstraße 31 Regensburg Bavaria 93053 Germany
5. University of Mannheim Mannheim Baden‐Württemberg 68131 Germany