RDP 2010-01: Reconciling Microeconomic and Macroeconomic Estimates of Price Stickiness
Equation
z
j
,
t
=
z
j
,
t
ρ
j
e
ε
z
j
,
t
,
and
,
log
(
a
t
)
=
ρ
a
log
(
a
t
−
1
)
+
ε
a
,
t
.
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