RDP 2010-01: Reconciling Microeconomic and Macroeconomic Estimates of Price Stickiness
Equation
P
t
(
k
)
*
=
ε
ε
−
1
E
t
Σ
n
=
0
∞
Λ
t
+
n
θ
j
n
Ω
j
,
t
+
n
(
P
t
+
n
m
)
ε
y
t
+
n
E
t
Σ
n
=
0
∞
Λ
t
+
n
θ
j
n
(
P
t
+
n
m
)
ε
y
t
+
n
.
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