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A n d rew J. Yat e s is an assistant pro fessor of economics, Wa ke Fo rest Unive rs i t y. The author would like to thank Robert Wh ap l e s , John Moorhouse, and anonymous re fe rees for helpful comments and sugge s t i o n s . Winter 1998 23doi:10.1080/00220489809596439 fatcat:ljppufk43rcbtboxbstprtpo7i