Abstract
The authors acknowledge helpful comments and suggestions from Chiara Fernanda Del Bo, Massimo Florio, Ondřej Schneider and three anonymous referees. Jan Novotný provided valuable research assistance.
An earlier version of this paper was presented at the VIII Milan European Economy Workshop, 11-12 June 2009, University of Milan, in the framework of the EIBURS project, sponsored by the European Investment Bank (EIB), at Université Paris I Sorbonne and Osteuropa-Institut, Regensburg; the authors acknowledge comments by presentation participants. They also gratefully acknowledge financial support from GAČR grant 402/09/1595.
The usual disclaimer applies and the views of the authors do not necessarily reflect those of the EIB.