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RDP 2010-01: Reconciling Microeconomic and Macroeconomic Estimates of Price Stickiness
Equation
P
t
(
k
)
*
∈
arg
max
P
t
(
k
)
E
∑
n
=
0
∞
Λ
t
+
n
Λ
t
θ
j
n
(
P
t
(
k
)
−
Ω
j
,
t
+
n
)
y
t
+
n
(
k
)
.
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