. New research by Yale Economist Michael Peters suggests that a large refugee settlement after World War II had three important consequences: The positive relationship between population size and productivity is at the heart of virtually all theories of economic growth. Michael Peters from Yale will present Spatial Structural Change. The estimated model im- plies that the refugee settlement increased aggregate income per capita by about 12% after 25 years and triggered a process of industrialization in rural areas. Students who receive a Ph.D. from Penn State and whose doctoral research is excellent have been recruited and sought after by leading academic and research institutions: our Ph.D. students have obtained tenure-track positions at Chicago, Harvard, Johns Hopkins, MIT, Northwestern, NYU, UPenn and many more. Sort by citations Sort by year Sort by title. At least three aspects of this study seem particularly context specific. All Rights Reserved. Students are exposed to detailed descriptions of 'how to' embark on a new venture in a logical manner. Michael Peters is an Associate Professor of Economics at Yale University, a Faculty Research Fellow of the National Bureau of Economic Research (NBER) and a Research Affiliate at the Centre for Economic Policy Research (CEPR). Michael Peters Economics 1995 This paper explores two models of an economy in which contracts are exchanged. Is the rise of services only due to income effects or can growth be service-led? The large inflows led to persistent changes in the sectoral composition of the local economy. The model can be solved analytically and allows for a precise theoretical characteri-zation of the underlying determinants of market power and its macroeconomic conse-quences. Articles Cited by Co-authors. To update listings or check citations waiting for approval, Michael Peters should log into the RePEc Author Service. Fabrizio Zilibotti. For the case of India, service-led growth was an important driver of risingliving standard. Columbia University. American Economic Review. ", Sergei Severinov & Michael Peters, 2004. Entrepreneurship, by Robert Hisrich, Michael Peters and Dean Shepherd has been designed to clearly instruct students on the process of formulating, planning, and implementing a new venture. In his research he focuses on economic growth and long-run economic development. ", Epstein, Larry G. & Peters, Michael, 1999. The persistent long-term effects of the refugee settlement imply that the government policy of settling refugees in rural labor markets might have changed the long-term path of local industrialization in West Germany. Sprouting Cities: How Rural America Industrialized, MarketSize and Spatial Growth -Evidence from Germany's Post-WarPopulation Expulsions, Heterogeneous Markups, Growth and Endogenous Misallocation, Firm Size, Quality Bias and Import Demand, The Gains From Input Trade with Heterogeneous Importers, Creative Destruction, Distance to Frontier, andEconomic Development, Growing Like India: The Unequal Effects of Service-Led Growth, Population Growth andFirm-Product Dynamics. ", Peters, Michael & Troncoso-Valverde, Cristin, 2013. I started working on growth theory during my PhD at MIT. Virtually all theories of economic growth predict a positive relationship between population size and productivity. American Economic Journal . Market Size and Spatial GrowthEvidence From Germany's Post-War Population Expulsions, Lack of Selection and Limits to Delegation: Firm Dynamics in Developing Countries, The Gains from Input Trade with Heterogeneous Importers, American Economic Journal: Macroeconomics, Heterogeneous Markups, Growth, and Endogenous Misallocation, Cowles Foundation for Research in Economics, Yale Federal Statistical Research Data Center. January 2021 CFP 1710 Author(s) Michael Peters. By building a solid foundation in the mechanics of preparing and analyzing financial statements, performance measurement (Return on Equity), and decision-making with the help of data analytics, Financial Accounting, 11th Edition helps students better prepare to be effective and successful business professionals. We argue this trend has important consequences for creative destruction, product concentration, and firm dynamics. 6 October, 2021 4:00 pm-6:00 pm. At the same time, the historical sources were full of anecdotes, which seemed to point at exactly the mechanism I wanted to explore. Office Address 87 Trumbull Street, Room B221 CV Website Michael Peters is an Associate Professor of Economics at Yale University, a Faculty Research Fellow of the National Bureau of Economic Research (NBER) and a Research Affiliate at the Centre for Economic Policy Research (CEPR). [8] Conor Walsh. endstream endobj startxref 0 %%EOF 43 0 obj <>stream Department of Economics, University of Chicago - Cited by 9,241 - Macroeconomics - Economic Growth - Firm Dynamics - Entrepreneurship - Innovation . %PDF-1.5 % My results are consistent with this literature, even though my analysis takes a long-run view, which is I think more novel. His research mostly focuses on macroeconomics, economic development and growth, and international trade. For the case of Germany, firm sorting acts as an amplifier of spatial inequality and accounts for. These findings are quantita- tively consistent with an idea-based model of spatial growth if population mobility is subject to frictions and productivity spillovers occur locally. In my research I focus primarily on economic growth and long-run economic development. Refugee settlement led to persistent increases in the local population, the share of people working in manufacturing, and income per capita. A departmentalhonors programprovides a small group of outstanding students an opportunity for independent research and close contact with faculty and fellow students. You can help correct errors and omissions. Market Size and Spatial GrowthEvidence From Germany's Post-War Population Expulsions, Lack of Selection and Limits to Delegation: Firm Dynamics in Developing Countries, Heterogeneous Markups, Growth, and Endogenous Misallocation. Economics Department, Yale University - Cited by 1,053 - Macroeconomics - Development Economics - Growth . Title. Macroeconomics Economic Growth Urban Economics. Finally, he studied the process of structural change, both in the US in the past and for present-day India, emphasizing the consequences on inequality across both people and space. Michael Peters, Conor Walsh Economics SSRN Electronic Journal 2019 A growing body of empirical research highlights substantial changes in the US economy during the last three decades. Department of Economics Yale University 28 Hillhouse Avenue New Haven, CT 06511 Tel: (203) 436-8475 CAPCP Center for the Study of Auctions, Procurements, and Competition Policy, CRIFES Center for Research on International Financial and Energy Security. For example, the US Military Government in Bavaria, published an internal report which explicitly discussed how the arrival of the refugees in rural Bavaria presented opportunities for firms to move to locations near idle workers. All material on this site has been provided by the respective publishers and authors. ". American Economic Review 111 (1), 231-75, 2021. I think there are so many related interesting and important questions to work on. ", Peters, Michael & Severinov, Sergei, 1997. Social Menu. ", Peters, Michael & Szentes, Balazs, 2009. Public profiles for Economics researchers, Curated articles & papers on economics topics, Upload your paper to be listed on RePEc and IDEAS, Pretend you are at the helm of an economics department, Data, research, apps & more from the St. Louis Fed, Initiative for open bibliographies in Economics, Have your institution's/publisher's output listed on RePEc, Matching by Luck or Search? Allen Head. He has worked on theories of firm-dynamics, highlighting the role of markups for misallocation, the importance of managerial delegation for firm growth, and the consequences of falling population growth. armed forces vacation club for veterans 082 825 4557; welsh keith brymer jones wife zapperstore.xyz@gmail.com Title . Research - Michael Peters Publications Sprouting Cities: How Rural America Industrialized (with Fabian Eckert and John Juneau ) [American Economic Review P&P, forthcoming] Between 1880 to 1940, the US transformed from a largely agrarian to an industrialized economy. My aunt, for example, grew up in the Eastern Territories and had to flee on a horse. J Blaum, C Lelarge, M Peters. I am an Assistant Professor at the Department of Economics at the University of California, San Diego. Understanding better what the likely economic effects of this unprecedented change are going to be seems very important to me. & Severinov,S., 2001. However, these gains were heavily skewed toward high-income households living in urban districts. This is in stark contrast to most episodes of voluntary migration, both in the modern era and in the past. Follow. Professor email Michael.Peters@ubc.ca phone 604 822 4418 location_on Iona Building 108 launch Personal Website file_download Download CV Research Area Theory About I am a Professor in the Vancouver School of Economics. In his research he focuses on economic growth and long-run economic development. My research interests are in micro theory, especially the theory of competing mechanisms, and the theory of directed search. ", Celik, Gorkem & Peters, Michael, 2008. In this paper, I study a particular historical episode to provide direct evidence Expand 25 PDF Structural reforms to make the most of demographic change L. Mello Economics 2020 Macroeconomics Development Economics Growth. Office Address 87 Trumbull Street, Room B221 CV Website Michael Peters is an Associate Professor of Economics at Yale University, a Faculty Research Fellow of the National Bureau of Economic Research (NBER) and a Research Affiliate at the Centre for Economic Policy Research (CEPR). guided by a fundamental trade-off: Operating in productive locations increases output per worker, but sharing a labor market with other productive firms makes it hard to poach and retain workers. For example, the recent influx of immigrants from Syria to Germany was pre-dominantly directed towards cities. Journal of Urban Economics, Volume 120, July 2022, 103454. Ming Xu. See all articles by Michael Peters Michael Peters. At a very general level, I am pretty confident that population density leads to higher productivity and there is a large empirical literature in urban economics that provides evidence for this to be the case. In the rst version contracts are exchanged on a competitive market in which traders expectations concerning conditions Expand 7 View 1 excerpt, references background Game-Playing Agents: Unobservable Contracts as Precommitments M. Katz Michael Peters Economics Department, Yale University Verified email at yale.edu. To link different versions of the same work, where versions have a different title, use this form. View Michael Peters' profile on LinkedIn, the world's largest professional community. In the af- termath of the Second World War, 8 million ethnic Germans were expelled from their domiciles in Eastern Europe and transferred to West Germany. In his work on growth and economic geography, he analyzed the long-run consequences of large-scale migration, both in post-war Germany and for the US in the 19th century. The findings echo Acemoglu et al. 2038 MICHAEL PETERS products and markup-reducing product churning through creative destruction shape the equilibrium distribution of markups. Box 21345, New . This inflow increased the German population by almost 20%. I would love to see more quantitative work on the consequences of migration that takes such differences into account. In this paper, I study a particular historical episode to provide direct evidence for the empirical relevance of such scale effects. These results provide direct evidence on the link between population growth, industrialization, and subsequent income growth. Create your own unique website with customizable templates. By 1950, about 8 million people had been transferred to West Germany, increasing its population by more than 20 percent. Professors Peters new paper, published in Econometrica last month, explores a particular historical setting to provide direct evidence for the empirical relevance of these effects. Negotiation and Take it or Leave it in Common Agency Journal of Economic Theory July 2003, Volume 111, Issue 1, Pages 88-109. . ", Peters, Michael & Severinov, Sergei, 2003. Their, This "Cited by" count includes citations to the following articles in Scholar. To make corrections to the bibliographic information of a particular item, find the technical contact on the abstract page of that item. Michael Peters ; Michael Peters . ", Celik, Gorkem & Peters, Michael, 2011. Some immigration is low-skilled, some immigration is high-skilled. targets the more productive firms can be beneficial in poor countries while being harmful in countries close to the economic frontier. This is, of course, exactly the link between productivity and population that, decades later, features so prominently in Paul Romers work on economic growth or Paul Krugmans work on economic geography. ", Peters, Michael & Troncoso-Valverde, Cristian, 2010. As far as immigration is concerned, there is still lots to understand in terms of the importance of the type of skills immigrants bring. hbbd``b`*@q`$3DY $,> L@)"3` 2 Finally, he studied the process of structural change, both in the US in the past and for present-day India, emphasizing the consequences on inequality across both people and space. This particular setting is, of course, close to my heart. A minor in economics is open to students enrolled in any college. The link between market size and productivity has always been a central aspect in the field but there was relatively little empirical work. His research mostly focuses on macroeconomics, economic development and growth, and international trade. MICHAEL PETERS AUGUST 2022 Contact Department of Economics Yale University 28 Hillhouse Avenue New Haven, CT 06511 eMail: m.peters@yale.edu Academic Appointments 2021-2022 Visiting Scholar, New York University Stern School of Business What motivated you to take on this research question? He has worked on theories of firm-dynamics, highlighting the role of markups for misallocation, the importance of managerial delegation for firm growth, and the consequences of falling population growth. Michael Peters Economics Department, . 37 (2), pages 281-306, November. Market Size and Spatial GrowthEvidence From Germany's Post-War Population Expulsions, Lack of Selection and Limits to Delegation: Firm Dynamics in Developing Countries, Heterogeneous Markups, Growth, and Endogenous Misallocation. The US is clearly the prime example of a country that was able to attract high-skilled migrants for a good part of the last 150 years. Michael Peters is an Associate Professor of Economics at Yale University and a Faculty Research Fellow at the NBER. I think we need more work to understand what happens when the population shrinks. Fertility rates in most of the developed world have already declined below 2 and we see the same trends in developing countries. Tuntex Professor of International and Development Economics, Yale University - Cited by 19,147 - Macroeconomic Development - Economic Growth and Development - China's Economic Development - Family Economics - Macroeconomics . First, the German economy had just emerged from the Second World War and firm creation might have been particularly mobile across space. For example, after refugee settlement, the manufacturing sector expanded and stayed higher many years after refugees arrived. Yale Department of Economics. Increases in per-capita income, particularly in the long run. Economics Department, Yale University. The breakthrough came at visit to Stanford, when I realized that the Hoover Institute had hundreds of old microfilms of the data the US military government collected in the late 1940s and 1950s. Michael Peters is an Associate Professor of Economics at Yale University and a Faculty Research Fellow at the NBER. Skip to main content Speaker(s) Location. We develop a methodology to measure the aggregate effects of input trade that takes such heterogeneity into account. Michael Peters, Conor Walsh Published 6 November 2019 Economics Microeconomics: Production A growing body of empirical research highlights substantial changes in the US economy during the last three decades. Cited by. Finally, most of the literature focusing on the link between density and productivity focuses on the effects of positive population shocks. The ensuing expulsion was implemented between 1945 and 1948 and represents one of the largest forced population movements in world history. ", Peters, Michael & Severinov, Sergei, 2005. Note that if the versions have a very similar title and are in the author's profile, the links will usually be created automatically. A bachelor of arts (ECLBA) or a bachelor of science degree (ECLBS) in economics. J. Blaum, Claire Lelarge, Michael Peters Published 1 December 2016 Economics ERN: Microeconometric Models of Firm Behavior in Open Economies (Topic) Firms differ substantially in their participation in foreign input markets. The emergence of new cities in Rural America played a big part for this transition. The department offers a program of mentoring for students who want to pursue graduate education in economics (CARE). What are the policy implications, if any, of this research? EU Economic Policy and Architecture after Covid, DP13700 Firm Size, Quality Bias and Import Demand, International Trade and Regional Economics, DP12237 Firm Size and the Intensive Margin of Import Demand, DP11721 The Gains from Input Trade with Heterogeneous Importers. hWR8~}aU)$pnf[=dXdf3 #LZ%HOKqe;sLX"e"a.j0&5uB0tpV p?dc>'53i[C^kq6C_jQylAt;23].8^AQx>nsl?Xge1Wp\g>. He received his undergraduate degree in Economics at the University of Mannheim and his PhD from MIT. The ones marked, American Economic Journal: Macroeconomics 10 (4), 77-127, Journal of International Economics 120, 59-83, New articles related to this author's research, Research Assistant Professor of Economics, Boston University, Department of Economics, University of Chicago, Tuntex Professor of International and Development Economics, Yale University, Professor of Economics, London School of Economics, Professor of Economics, INSEAD, London School of Economics and College de France, Heterogeneous Markups, Growth, and Endogenous Misallocation, The gains from input trade with heterogeneous importers, Lack of selection and limits to delegation: firm dynamics in developing countries, Market size and spatial growth-evidence from germanys post-war population expulsions, Firm size, quality bias and import demand, A method to construct geographical crosswalks with an application to us counties since 1790, Growing Like India: The Unequal Effects of Service-Led Growth, Solutions manual for introduction to modern economic growth, European immigrants and the United States rise to the technological frontier, Creative Destruction, Distance to Frontier, and Economic Development, Sprouting Cities: How Rural America Industrialized, Discussion of The Matthew effectand market concentration: Search complementarities and monopsony power by Fernndez-Villaverde, Mandelman, Yu and Zanetti. Business dynamism - namely job reallocation, firm entry and creative destruction - is declining. Before joining Yale University, he held a position at the London School of Economics. Large and persistent increase in the size of the local population; It spurred local industrialization by increasing labor in the manufacturing sector and decreasing labor in the agriculture sector; and. Michael Peters is an Associate Professor of Economics at Yale University, a Faculty Research Fellow of the National Bureau of Economic Research (NBER) and a Research Affiliate at the Centre for Economic Policy Research (CEPR). firm and location productivity arecomplements and labor market frictions are sufficiently large. Finally, the 1950s and 1960s were characterized by a secular increase in the manufacturing sector. ", Peters, Michael & Severinov, Sergei, 2006. The program provides rigorous training in econometrics and quantitative economics as well as in economic theory. Together with my colleague Costas Arkolakis and Sun Kyoung Lee at Michigan, we work on a project on the link between migration and economic development in the US between 1880 and 1920 where we try to carefully measure differences in innovation potential between migrants from different countries. Sort. Footer Menu. In his work on growth and economic geography, he analyzed the long-run consequences of large-scale migration, both in post-war Germany and for the US in the 19th century. This work allowed him to quantify the effect of the refugee settlement on aggregate income and study how the government policy of sending refugees to the countryside might ignite and maintain rural industrialization. . It was a real pleasure to talk with Mohamed El-Erian and cover a wide range of topics from economic . interests: Trade, Economic Geography, and Macroeconomics contact: . In particular, refugee settlement seemed to have ignited the process of industrialization in agricultural communities. The first months where very discouraging because so little data seemed to have survived. Research. ", Michael Peters & Sergei Severinov, 1995. The system can't perform the operation now. " Internet auctions with many traders ," Working papers 11, Wisconsin Madison - Social Systems. . . "Financial Accounting, 10th Edition, by Jamie Pratt and Michael Peters, provides students with a clear understanding of financial accounting by framing accounting processes in the context of. Michael Peters Published 1 October 2021 Economics SSRN Electronic Journal Virtually all theories of economic growth predict a positive relationship between population size and productivity. He received his undergraduate degree in Economics at the University of Mannheim and his PhD from MIT. To what extent these findings have a direct relevance for immigration policy today, is a great question. Author(s) Michael Peters. degree in economics. Business dynamism - namely job reallocation, firm entry and creative destruction - 20 PDF View 7 excerpts, cites results and methods ", Michael Peters & Sergei Severinov, 2001. What are some exciting areas for further research in this area? Michael Peters Economics Department, Yale University Verified email at . At the end of the Second World War, the governments of the United States, the United Kingdom, and Russia expelled millions of ethnic Germans from Eastern Europe and transferred them to West Germany and the Soviet Occupied Zone. Yale University - Department of Economics; Yale University - Cowles Foundation. Michael Porter is the author of 20 books and numerous articles including Competitive Strategy, Competitive Advantage, Competitive Advantage of Nations, and On Competition. Verified email at columbia.edu - Homepage. Productive firms thus settle in productive. The following articles are merged in Scholar. The Bulletin on Retirement and Disability, Productivity, Innovation, and Entrepreneurship, Boosting Grant Applications from Faculty at MSIs, Conference on Research in Income and Wealth, Early Indicators of Later Work Levels, Disease and Death, Improving Health Outcomes for an Aging Population, Measuring the Clinical and Economic Outcomes Associated with Delivery Systems, Retirement and Disability Research Center, The Roybal Center for Behavior Change in Health, Training Program in Aging and Health Economics, Transportation Economics in the 21st Century. But even within the US there are vast regional differences in the type of migrants that settle in different areas. (2006). target no need to return item. With leading researchers in economic theory, econometrics, international economics, and macroeconomics, the Economics Department at Penn State is an outstanding department. ", Halevy, Yoram & Peters, Michael, 2007. How do local economies respond to large increases to the size of their population? 2023 National Bureau of Economic Research. Michael Peters Economics Department, Yale University Verified email at yale.edu Teresa Fort Associate Professor, Tuck School of Business at Dartmouth, NBER, CEPR Verified email at tuck.dartmouth.edu Peter K. Schott Juan Trippe Professor of Economics, Yale School of Management & NBER & CEPR Verified email at yale.edu In many developing countries, structural transformation takes the form of a rapid rise of services with limited industrialization. Second, the refugees were allocated to rural areas and not to urban centers. So, at some point around 2010 I started to explore whether one could compile empirical evidence on this episode. Empirical Evidence from the Executive Labor Market, Reciprocal Relationships and Mechanism Design, Reciprocal relationships and mechanism design, Canadian Journal of Economics/Revue canadienne d'conomique, On the Revelation Principle and Reciprocal Mechanisms in Competing Mechanism Games, Other Regarding Preferences: Outcomes, Intentions, or Interdependence, Non-cooperative foundations of hedonic equilibrium, The Pre-Marital Investment Game: Addendum, Technical Appendix to Internet Auctions with Many Traders, Unobservable Heterogeneity in Directed Search, Internet Trading Mechanisms And Rational Expectations, Econometric Society 2004 North American Winter Meetings, Pure Strategies and No Externalities with Multiple Agents, Negotiation and Take it or Leave it in Common Agency, Negotiation and take it or leave it in common agency, Common Agency and the Revelation Principle, Limits of Exact Equilibria for Capacity Constrained Sellers with costlySearch, Limits of Exact Equilibria for Capacity Constrained Sellers with Costly Search, Competition Among Mechanism Designers in a Common Value Environment, Competition among mechanism designers in a common value environment, A Revelation Principle For Competing Mechanisms, A Revelation Principle for Competing Mechanisms, On the Equivalence of Walrasian and Non-Walrasian Equilibria in Contract Markets: The case of Complete Contracts, Competition Among Sellers who offer Auctions Instead of Prices, Competition among Sellers Who Offer Auctions Instead of Prices, Dynamic Monopoly Power When Search is Costly, Noncontractible Heterogeneity in Directed Search, Erratum to "Negotiation and take it or leave it in common agency": [Journal of Economic Theory 111 (2003) 88-109], Pure strategy and no-externalities with multiple agents, Decentralized Markets and Endogenous Institutions, Incentive-Consistent Matching Processes for Problems with ex Ante Pricing, Equilibrium Mechanisms in a Decentralized Market, On the Efficiency of Ex Ante and Ex Post Pricing Institutions, Ex Ante Price Offers in Matching Games Non-steady States, Research and development with publicly observable outcomes, Bertrand Equilibrium with Capacity Constraints and Restricted Mobility, Market Equilibrium and the Resolution of Uncertainty, Labour contracts in a stock market economy, Number of Distinct Works, Weighted by Simple Impact Factor, Number of Distinct Works, Weighted by Recursive Impact Factor, Number of Distinct Works, Weighted by Number of Authors and Simple Impact Factors, Number of Distinct Works, Weighted by Number of Authors and Recursive Impact Factors, Number of Citations, Weighted by Simple Impact Factor, Number of Citations, Weighted by Recursive Impact Factor, Number of Citations, Weighted by Recursive Impact Factor, Discounted by Citation Age, Number of Citations, Weighted by Number of Authors, Number of Citations, Weighted by Number of Authors and Simple Impact Factors, Number of Citations, Weighted by Number of Authors and Simple Impact Factors, Discounted by Citation Age, Number of Citations, Weighted by Number of Authors and Recursive Impact Factors, Number of Citations, Weighted by Number of Authors and Recursive Impact Factors, Discounted by Citation Age, Number of Journal Pages, Weighted by Simple Impact Factor, Number of Journal Pages, Weighted by Recursive Impact Factor, Number of Journal Pages, Weighted by Number of Authors, Number of Journal Pages, Weighted by Number of Authors and Simple Impact Factors, Number of Journal Pages, Weighted by Number of Authors and Recursive Impact Factors, Queen's Economics Department PhD Graduates, 1980 Economics Department; Queen's University (from, Li, Kun & Peters, Michael & Xu, Pai, 2013. Michael Peters. New research by Yale Economist Michael Peters, new paper, published in Econometrica last month, New Research by Michael Peters on the Economic Consequences of Refugee Settlements. Comprehensive cases at the end of the text have been hand-picked by the authors to go hand-in-hand . Most demographers expect the global population to decline starting by around 2065. A research summary and interview look at new work on the economic consequences of a large refugee settlement after World War II. Powered by Create your own unique website with customizable templates. In this paper, I study a particular historical episode to provide direct evidence for the empirical relevance of such scale effects. ", Michael Peters & Sergei Severinov, 2008. New research by Yale Economist Michael Peters suggests that a large refugee settlement after World War II had three important consequences: Large and persistent increase in the size of the local population; It spurred local industrialization by increasing labor in the manufacturing sector and decreasing labor in the agriculture sector; and
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