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The information employed in this study have been kindly provided by the German Institute for Economic Study, Berlin (GSOEP) the UK Information Archive at the University of Essex (BHPS) and the Bureau of Labor Statistics, Washington, DC (NLSY). Of course, none of these institutions bears any responsibility for the use made of the information or for the inferences drawn by the authors. We thank all participants at those presentations as nicely as Suzanne M. Bianchi, Kenneth Hill, Kenneth Land, and the anonymous reviewers for many insightful comments on earlier versions of the article.

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