First Author:   Claus Michelsen Halle Institute for Economic Research cmn@iwh-halle.de   P.O. Box 11 03 61 Halle, 06017, Germany   +49(0)345 7753 837(Phone) +49(0)345 7753 837(Fax) http://www.iwh-halle.de/d/abteil/REGO/cmn/pers.htm Second Author: Sebastian Rosenschon Halle Institute for Economic Research srn@iwh-halle.de   Halle, 06017