6.7. The Fischer model with unbalanced price setting. Suppose the economy is as described by the model

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6.7. The Fischer model with unbalanced price setting. Suppose the economy is as described by the model of Section 67, except that instead of half of the individuals setting their prices each period, fraction f set their prices in odd periods and fraction 1 f set their prices in even periods Thus the price level is fp (1f)p if t is even and (1)p + fp if t is odd Derive expressions analogous to (657) and (658) for p, and y, for even and odd periods

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