RDP 2010-01: Reconciling Microeconomic and Macroeconomic Estimates of Price Stickiness Equation

l j , t d = ψ j 1 ψ j l k , t d d k = α j Ω j , t W t ψ j 1 ψ j y t ( k ) d k . = α j Ω j , t W t y j , t l t d = j = 1 N l j , t d . MathType@MTEF@5@5@+= feaagKart1ev2aaatCvAUfeBSjuyZL2yd9gzLbvyNv2CaerbuLwBLn hiov2DGi1BTfMBaeXatLxBI9gBaerbd9wDYLwzYbItLDharqqtubsr 4rNCHbGeaGqiVu0Je9sqqrpepC0xbbL8F4rqqrFfpeea0xe9Lq=Jc9 vqaqpepm0xbba9pwe9Q8fs0=yqaqpepae9pg0FirpepeKkFr0xfr=x fr=xb9adbaqaaeGaciGaaiaabeqaamaabaabaaGceaqabeaacaWGSb Waa0baaSqaaiaadQgacaGGSaGaamiDaaqaaiaadsgaaaGccqGH9aqp daWdXaqaaiaadYgadaqhaaWcbaGaam4AaiaacYcacaWG0baabaGaam izaaaakiaadsgacaWGRbaaleaacqaHipqEdaWgaaadbaGaamOAaiab gkHiTiaaigdaaeqaaaWcbaGaeqiYdK3aaSbaaWqaaiaadQgaaeqaaa qdcqGHRiI8aaGcbaGaeyypa0ZaaSaaaeaacqaHXoqydaWgaaWcbaGa amOAaaqabaGccaGIPoWaaSbaaSqaaiaadQgacaGGSaGaamiDaaqaba aakeaacaWGxbWaaSbaaSqaaiaadshaaeqaaaaakmaapedabaGaamyE amaaBaaaleaacaWG0baabeaakmaabmaabaGaam4AaaGaayjkaiaawM caaiaadsgacaWGRbGaaiOlaaWcbaGaeqiYdK3aaSbaaWqaaiaadQga cqGHsislcaaIXaaabeaaaSqaaiabeI8a5naaBaaameaacaWGQbaabe aaa0Gaey4kIipaaOqaaiabg2da9maalaaabaGaeqySde2aaSbaaSqa aiaadQgaaeqaaOGaaOyQdmaaBaaaleaacaWGQbGaaiilaiaadshaae qaaaGcbaGaam4vamaaBaaaleaacaWG0baabeaaaaGccaWG5bWaaSba aSqaaiaadQgacaGGSaGaamiDaaqabaaakeaacaWGSbWaa0baaSqaai aadshaaeaacaWGKbaaaOGaeyypa0ZaaabCaeaacaWGSbWaa0baaSqa aiaadQgacaGGSaGaamiDaaqaaiaadsgaaaGccaGGUaaaleaacaWGQb Gaeyypa0JaaGymaaqaaiaad6eaa0GaeyyeIuoaaaaa@83A8@