[postgresql] How to UPSERT (MERGE, INSERT ... ON DUPLICATE UPDATE) in PostgreSQL?

WITH UPD AS (UPDATE TEST_TABLE SET SOME_DATA = 'Joe' WHERE ID = 2 
RETURNING ID),
INS AS (SELECT '2', 'Joe' WHERE NOT EXISTS (SELECT * FROM UPD))
INSERT INTO TEST_TABLE(ID, SOME_DATA) SELECT * FROM INS

Tested on Postgresql 9.3

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