Economics Department, Yale University - Cited by 1,053 - Macroeconomics - Development Economics - Growth . For the case of Germany, firm sorting acts as an amplifier of spatial inequality and accounts for. Michael Peters is an Associate Professor of Economics at Yale University and a Faculty Research Fellow at the NBER. First, the German economy had just emerged from the Second World War and firm creation might have been particularly mobile across space. Is the rise of services only due to income effects or can growth be service-led? ", Celik, Gorkem & Peters, Michael, 2008. Michael Peters from Yale will present Spatial Structural Change. 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). 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. 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. 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. Population Growth and Firm-Product Dynamics (with Michael Peters) Population growth has declined markedly in almost all major economies. "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. My research interests are in micro theory, especially the theory of competing mechanisms, and the theory of directed search. My parents grew up in the West, but remember that they had to share their apartment with refugees from the East in the immediate war periods because housing was so scarce. interests: Trade, Economic Geography, and Macroeconomics contact: . CAPCP Center for the Study of Auctions, Procurements, and Competition Policy, CRIFES Center for Research on International Financial and Energy Security. A minor in economics is open to students enrolled in any college. 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 & Sergei Severinov, 2008. 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. 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. Please note that most corrections can take a couple of weeks to filter through the various RePEc services. A departmentalhonors programprovides a small group of outstanding students an opportunity for independent research and close contact with faculty and fellow students. Some immigration is low-skilled, some immigration is high-skilled. Finally, most of the literature focusing on the link between density and productivity focuses on the effects of positive population shocks. American Economic Review 111 (1), 231-75, 2021. Winter, 1983. " An ascending double auction ," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. In many developing countries, structural transformation takes the form of a rapid rise of services with limited industrialization. Ming Xu. 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). These results provide direct evidence on the link between population growth, industrialization, and subsequent income growth. Columbia University. Powered by Create your own unique website with customizable templates. Like Tweet Share. Research. But even within the US there are vast regional differences in the type of migrants that settle in different areas. Footer Menu. 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. ", Peters, Michael & Severinov, Sergei, 2005. Sort by citations Sort by year Sort by title. 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. Verified email at columbia.edu - Homepage. 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? A research summary and interview look at new work on the economic consequences of a large refugee settlement after World War II. Refugee settlement led to persistent increases in the local population, the share of people working in manufacturing, and income per capita. 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. Productive firms thus settle in productive. Michael Peters is an Associate Professor of Economics at Yale University and a Faculty Research Fellow at the NBER. Yale Department of Economics. At the same time, the historical sources were full of anecdotes, which seemed to point at exactly the mechanism I wanted to explore. If the link between productivity and population size is different in the service sector, these findings might have little to tell us about the likely effects of immigration today. Follow. Try again later. In my research I focus primarily on economic growth and long-run economic development. 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. Professor email [email protected] 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. 37 (2), pages 281-306, November. Yale University - Department of Economics; Yale University - Cowles Foundation. endstream endobj startxref 0 %%EOF 43 0 obj <>stream Their, This "Cited by" count includes citations to the following articles in Scholar. He received his PhD from the Massachusetts Institute of Technology (MIT) and held an Assistant Professor position at the London School of Economics before joining Yale. We develop a methodology to measure the aggregate effects of input trade that takes such heterogeneity into account. U Akcigit, H Alp, M Peters. target no need to return item. To estimate the relationship between refugee inflow and local economic development, Professor Peters constructed a data set from original historical sources for more than 500 West German counties since the 1930s. In his research he focuses on economic growth and long-run economic development. 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 His research mostly focuses on macroeconomics, economic development and growth, and international trade. Michael Peters - Contact Welcome to my website! ", Michael Peters & Sergei Severinov, 1995. The ensuing expulsion was implemented between 1945 and 1948 and represents one of the largest forced population movements in world history. American Economic Journal . 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. His research mostly focuses on macroeconomics, economic development and growth, and international trade. A bachelor of arts (ECLBA) or a bachelor of science degree (ECLBS) in economics. Michael Peters Economics Department, . Using variation across counties, I show that the settlement of refugees had large and persistent effects on the size of the local popula- tion, manufacturing employment, and income per capita. His research mostly focuses on macroeconomics, economic development and growth, and international trade. 180 * 2021: Business dynamism - namely job reallocation, firm entry and creative destruction - is declining. For example, after refugee settlement, the manufacturing sector expanded and stayed higher many years after refugees arrived. Speaker(s) Location. What are some exciting areas for further research in this area? My results are consistent with this literature, even though my analysis takes a long-run view, which is I think more novel. What motivated you to take on this research question? . ", Peters, Michael & Severinov, Sergei, 2006. Students are exposed to detailed descriptions of 'how to' embark on a new venture in a logical manner. ", Epstein, Larry G. & Peters, Michael, 1999. What were the results? 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. I started working on growth theory during my PhD at MIT. There have been few attempts to provide direct evidence on the causal effect of larger scale on productivity growth and to connect such estimates to structural models. hbbd``b`*@q`$3DY $,> L@)"3` 2 Michael Peters Economics SSRN Electronic Journal 2021 Virtually all theories of economic growth predict a positive relationship between population size and productivity. 2038 MICHAEL PETERS products and markup-reducing product churning through creative destruction shape the equilibrium distribution of markups. . Michael Porter is the author of 20 books and numerous articles including Competitive Strategy, Competitive Advantage, Competitive Advantage of Nations, and On Competition. Most demographers expect the global population to decline starting by around 2065. 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. Yale. You can help correct errors and omissions. Understanding better what the likely economic effects of this unprecedented change are going to be seems very important to me. ", Peters, Michael & Severinov, Sergei, 2003. The system can't perform the operation now. Macroeconomics Development Economics Growth. There, details are also given on how to add or correct references and citations. 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. Penn State now offers a two-year program designated only for the M.A. Cited by. I think there are so many related interesting and important questions to work on. For example, the recent influx of immigrants from Syria to Germany was pre-dominantly directed towards cities. armed forces vacation club for veterans 082 825 4557; welsh keith brymer jones wife [email protected] For general information on how to correct material on RePEc, see these instructions. Michael Peters, Yale - Department of Economics Michael Peters, Yale Home Michael Peters, Yale When September 18, 2017 4:00 pm -5:30 pm Where 613 Kern Michael Peters from Yale will present "Spatial Structural Change". Michael Peters Economics Department, Yale University Verified email at yale.edu. 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. I am an Associate Professor in the Economics Department at Yale. There are two different undergraduate degrees in the College of the Liberal Arts that a student may earn in economics at Penn State. In particular, refugee settlement seemed to have ignited the process of industrialization in agricultural communities. 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. Before joining Yale University, he held a position at the London School of Economics. To update listings or check citations waiting for approval, Michael Peters should log into the RePEc Author Service. Skip to main content . Peters, Michael and Alp Simsek (2009), Solutions Manual for "Introduction to Modern Economic Growth", Princeton University Press. 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. 2 PDF A commitment folk theorem A. Kalai, E. Kalai, E. Lehrer, D. Samet Economics " Internet auctions with many traders ," Working papers 11, Wisconsin Madison - Social Systems. 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. 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 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 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. 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 . What are the policy implications, if any, of this research? The emergence of new cities in Rural America played a big part for this transition. By 1950, about 8 million people had been transferred to West Germany, increasing its population by more than 20 percent. Fabrizio Zilibotti. Michael Peters Vancouver School of Economics University of British Columbia 600 Iona Drive Vancouver, Canada V6T 1L4 604-822-4418 peters econ ubc ca. MICHAEL PETERS AUGUST 2022 Contact Department of Economics Yale University 28 Hillhouse Avenue New Haven, CT 06511 eMail: [email protected] Academic Appointments 2021-2022 Visiting Scholar, New York University Stern School of Business Michael Peters Economics Department, Yale University Verified email at . Michael Peters. With leading researchers in economic theory, econometrics, international economics, and macroeconomics, the Economics Department at Penn State is an outstanding department. Second, the refugees were allocated to rural areas and not to urban centers. Phone (613) 533-2250 Fax (613) 533-6668 Email https . Title. All Rights Reserved. Michael Peters Economics 1995 This paper explores two models of an economy in which contracts are exchanged. Michael Peters Economics, Biology 2014 TLDR This paper provides a set of mechanisms that have the property that every outcome that can be supported as a Bayesian equilibrium in a competing mechanism game can be support as an equilibrium in reciprocal mechanisms. Department of Economics, University of Chicago - Cited by 9,241 - Macroeconomics - Economic Growth - Firm Dynamics - Entrepreneurship - Innovation . J Blaum, C Lelarge, M Peters. At the heart of this analysis are West Germany population censuses for the years 1933, 1939, 1950, and 1961. He received his undergraduate degree in Economics at the University of Mannheim and his PhD from MIT. Increases in per-capita income, particularly in the long run. 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. My aunt, for example, grew up in the Eastern Territories and had to flee on a horse. I think we need more work to understand what happens when the population shrinks. hb```f``} cf`ah`.d0 I am also a research affiliate at the CEPR and a faculty research fellow at the NBER. ", Peters, Michael & Severinov, Sergei, 1997. 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. Articles Cited by Co-authors. 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. To make corrections to the bibliographic information of a particular item, find the technical contact on the abstract page of that item. [8] Note that if the versions have a very similar title and are in the author's profile, the links will usually be created automatically. All material on this site has been provided by the respective publishers and authors. firm and location productivity arecomplements and labor market frictions are sufficiently large. The large inflows led to persistent changes in the sectoral composition of the local economy. Department of Economics Yale University 28 Hillhouse Avenue New Haven, CT 06511 Tel: (203) 436-8475 At least three aspects of this study seem particularly context specific. The findings echo Acemoglu et al. ", Peters, Michael & Szentes, Balazs, 2009. 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). (2006). And they, luckily, had taken pictures of the old census publications, which I could digitize. In this paper, I study a particular historical episode to provide direct evidence for the empirical relevance of such scale effects. ", Celik, Gorkem & Peters, Michael, 2011. View Michael Peters' profile on LinkedIn, the world's largest professional community. Economics Department, Yale University. Lack of Selection and Limits to Delegation: Firm Dynamics in Developing Countries . These mass migrations also led to a long-term increase in income-per-capita for the aggregate economy: a 10 percent increase in the share of refugees increased income per capita by roughly 56 percent after 15 years, and roughly 12 percent after 25 years. I would love to see more quantitative work on the consequences of migration that takes such differences into account. Author(s) Michael Peters. 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. Being from Germany myself, one hears lots of stories about the WW2 expulsion. ", Peters, Michael & Troncoso-Valverde, Cristin, 2013. 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. degree in economics. He received his PhD from the Massachusetts Institute of Technology (MIT) and held an Assistant Professor position at the London School of Economics before joining Yale.
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