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We prove that, for every real Lipschitz function and every integer , , where is the -th Calderón commutator and is an absolute constant. The essential tool is the Coifman–McIntosh–Meyer theorem, applied to a holomorphic family of complex curves, together with the Cauchy integral formula on a contour surrounding the interval of secant slopes. We also include a simpler version of the argument that yields an bound and motivates the choice of contour.

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