RDP 2010-01: Reconciling Microeconomic and Macroeconomic Estimates of Price Stickiness
Equation (A23)
i
^
t
=
ρ
i
i
^
t
−
1
+
(
1
−
ρ
i
)
(
ϕ
π
π
^
t
+
ϕ
g
g
^
t
)
+
ε
i
,
t
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