We thank seminar and conference participants at Banque de France, UC Berkeley, CERGE-EI, Harvard, Hohenheim, INSEAD, Maastricht, Mannheim, Northwestern, PSE, Shanghai Jiao Tong, Singapore Management University, Stanford, Tuebingen, USC, Vienna, Warwick and Zurich for valuable comments, and Lory Iunius, Clemens Oberhuemer and Liaoliang Zhang for excellent research assistance. Autor acknowledges research support from the Hewlett Foundation, Google, the Smith Richardson Foundation, and the Washington Center for Equitable Growth. Beck and Dorn acknowledge research support from the University of Zurich’s research priority program 'Equality of Opportunity'. Hanson acknowledges research support from the Hewlett Foundation and the Generation Foundation. The views expressed here are those of the authors only, and not necessarily those of the World Bank. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.
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