International Robust Disagreement

Riccardo Colacito () and Mariano M. Croce

American Economic Review, 2012, vol. 102, issue 3, 152-55

Abstract: We characterize the equilibrium of a two-country, two-good economy in which agents have opposite preference bias toward one of the two consumption goods and fear model misspecification. We document that disagreement about endowments' growth prospects is a persistent endogenous outcome of this class of economies.

Date: 2012
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