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RDP 2010-01: Reconciling Microeconomic and Macroeconomic Estimates of Price Stickiness
Equation
(
P
j
,
t
+
)
−
ε
=
θ
j
(
P
j
,
t
−
1
+
)
−
ε
+
(
1
−
θ
j
)
(
P
t
(
k
)
*
)
−
ε
.
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