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We thank Ozgur Bozcaga, Girija Bahety, Odyssia Ng, and Wanjin Wu for helpful research assistance. We thank Chris Barrett, Roz Naylor, Charles Kolstad, Doug Gollin, and seminar participants at Stanford for helpful comments. We thank the National Science Foundation (NSF grant 1658728) for funding. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research. NBER working papers are circulated for discussion and commentdoi:10.3386/w26924 fatcat:abn2usoq2rai3a6j3jyicucoia