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RDP 2010-01: Reconciling Microeconomic and Macroeconomic Estimates of Price Stickiness
Equation (A37)
z
^
j
,
t
=
ρ
z
,
j
z
^
j
,
t
−
1
+
ε
z
,
j
,
t
j
=
1
,
...
,
N
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