First Author:   Marco Sahm University of Bamberg and CESifo Marco.Sahm@uni-bamberg.de   Bamberg, 96052, Germany   +49-951-863-2728(Phone) +49-951-863-2728(Fax) https://www.uni-bamberg.de/en/vwl-wt/ Second Author: Christoph March University of Bamberg, Technische Universität München, and CESifo christoph.march@tum.de