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Article History

Received: 12 July 2024

Accepted: 24 November 2025

First Online: 22 January 2026

Declarations

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: The authors have no competing interests to declare that are relevant to the content of this article. The opinions expressed are strictly those of the authors and do not necessarily reflect the views of the National Bank of Belgium, Eurostat, or any other institution with which the authors are affiliated. The dataset used in this study was provided by Eurostat under a contract that restricts sharing. Researchers interested in conducting similar analyses can request access to the same dataset directly from Eurostat. However, we are able to share our code to ensure the replicability of our results.