RDP 2010-01: Reconciling Microeconomic and Macroeconomic Estimates of Price Stickiness
Equation (3)
π
j
,
t
=
(1
−
θ
j
)(1
−
β
θ
j
)
θ
j
m
c
j
,
t
+
β
E
t
π
j
,
t
+
1
,
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