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Kiel Working Papers

ISSN 1862-1155

The authors themselves, not the Kiel Institute for the World Economy, are responsible for the contents and distribution of Kiel Working Papers. Since the series involves manuscripts in a preliminary form, interested readers are requested to direct criticisms and suggestions directly to the authors and to clear any quotations with them. Complete Working Papers are given in pdf-format. Numerous Kiel Working Papers for the period 1973-1998 are available at RePEc.