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 Understanding better what the likely economic effects of this unprecedented change are going to be seems very important to me. But even within the US there are vast regional differences in the type of migrants that settle in different areas. Comprehensive cases at the end of the text have been hand-picked by the authors to go hand-in-hand . The program provides rigorous training in econometrics and quantitative economics as well as in economic theory. Michael Porter is the author of 20 books and numerous articles including Competitive Strategy, Competitive Advantage, Competitive Advantage of Nations, and On Competition. Students are exposed to detailed descriptions of 'how to' embark on a new venture in a logical manner. 6 October, 2021 4:00 pm-6:00 pm. To link different versions of the same work, where versions have a different title, use this form. ", Peters, Michael & Troncoso-Valverde, Cristian, 2010. The Geography of Remote Work . interests: Trade, Economic Geography, and Macroeconomics contact: . Macroeconomics Economic Growth Urban Economics. I am an Associate Professor in the Economics Department at Yale. ". He received his undergraduate degree in Economics at the University of Mannheim and his PhD from MIT. [8] ", Epstein, Larry G. & Peters, Michael, 1999. 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. Yale University - Department of Economics; Yale University - Cowles Foundation. As far as immigration is concerned, there is still lots to understand in terms of the importance of the type of skills immigrants bring. For example, the recent influx of immigrants from Syria to Germany was pre-dominantly directed towards cities. A bachelor of arts (ECLBA) or a bachelor of science degree (ECLBS) in economics. Negotiation and Take it or Leave it in Common Agency Journal of Economic Theory July 2003, Volume 111, Issue 1, Pages 88-109. . ", Michael Peters & Sergei Severinov, 2001. Productive firms thus settle in productive. Second, the refugees were allocated to rural areas and not to urban centers. The following articles are merged in Scholar. Finally, most of the literature focusing on the link between density and productivity focuses on the effects of positive population shocks. 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. Michael Peters Economics Department, Yale University Verified email at . Please note that most corrections can take a couple of weeks to filter through the various RePEc services. endstream endobj startxref 0 %%EOF 43 0 obj <>stream Fertility rates in most of the developed world have already declined below 2 and we see the same trends in developing countries. To make corrections to the bibliographic information of a particular item, find the technical contact on the abstract page of that item. There, details are also given on how to add or correct references and citations. What motivated you to take on this research question? 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 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. Follow. Box 21345, New . 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. Population Growth and Firm-Product Dynamics (with Michael Peters) Population growth has declined markedly in almost all major economies. For general information on how to correct material on RePEc, see these instructions. This is in stark contrast to most episodes of voluntary migration, both in the modern era and in the past. Finally, the 1950s and 1960s were characterized by a secular increase in the manufacturing sector. Being from Germany myself, one hears lots of stories about the WW2 expulsion. "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. 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. My research interests are in micro theory, especially the theory of competing mechanisms, and the theory of directed search. 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. 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. And they, luckily, had taken pictures of the old census publications, which I could digitize. Department of Economics Yale University 28 Hillhouse Avenue New Haven, CT 06511 Tel: (203) 436-8475 Increases in per-capita income, particularly in the long run. His research mostly focuses on macroeconomics, economic development and growth, and international trade. First, the German economy had just emerged from the Second World War and firm creation might have been particularly mobile across space. 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. Department of Economics. Michael Peters from Yale will present Spatial Structural Change. 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 In many developing countries, structural transformation takes the form of a rapid rise of services with limited industrialization. ", Michael Peters & Sergei Severinov, 1995. Peters, Michael and Alp Simsek (2009), Solutions Manual for "Introduction to Modern Economic Growth", Princeton University Press. 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. My results are consistent with this literature, even though my analysis takes a long-run view, which is I think more novel. About; Graduate; IDE-MA Program; Undergraduate; Events; Research; Centers; P.O. See all articles by Michael Peters Michael Peters. 37 (2), pages 281-306, November. 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. Queen's University Dunning Hall, Room 209 94 University Avenue Kingston, Ontario K7L 3N6. %PDF-1.5 % . For example, after refugee settlement, the manufacturing sector expanded and stayed higher many years after refugees arrived. 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 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. Footer Menu. At the heart of this analysis are West Germany population censuses for the years 1933, 1939, 1950, and 1961. 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. Conor Walsh. The first months where very discouraging because so little data seemed to have survived. The link between market size and productivity has always been a central aspect in the field but there was relatively little empirical work. In particular, refugee settlement seemed to have ignited the process of industrialization in agricultural communities. 2 PDF A commitment folk theorem A. Kalai, E. Kalai, E. Lehrer, D. Samet Economics Yale Department of Economics. In this paper, I study a particular historical episode to provide direct evidence for the empirical relevance of such scale effects. All material on this site has been provided by the respective publishers and authors. Their, This "Cited by" count includes citations to the following articles in Scholar. Ming Xu. My aunt, for example, grew up in the Eastern Territories and had to flee on a horse. American Economic Journal . 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. American Economic Review 111 (1), 231-75, 2021. What are the policy implications, if any, of this research? Peters,M. 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 . 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. Virtual. The department offers a program of mentoring for students who want to pursue graduate education in economics (CARE). 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. 0q$D~;4} AF@D m endstream endobj 20 0 obj <> endobj 21 0 obj <> endobj 22 0 obj <>stream 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. At least three aspects of this study seem particularly context specific. In his research he focuses on economic growth and long-run economic development. Penn State now offers a two-year program designated only for the M.A. Note that if the versions have a very similar title and are in the author's profile, the links will usually be created automatically. 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. firm and location productivity arecomplements and labor market frictions are sufficiently large. It was a real pleasure to talk with Mohamed El-Erian and cover a wide range of topics from economic . Skip to main content 19 0 obj <> endobj 28 0 obj <>/Filter/FlateDecode/ID[<70ADE99825F75C65B66EE155A86C2D05>]/Index[19 25]/Info 18 0 R/Length 64/Prev 76524/Root 20 0 R/Size 44/Type/XRef/W[1 2 1]>>stream 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. There are two different undergraduate degrees in the College of the Liberal Arts that a student may earn in economics at Penn State. " An ascending double auction ," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. Verified email at columbia.edu - Homepage. Is the rise of services only due to income effects or can growth be service-led? Affiliation: Yale. 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. 2038 MICHAEL PETERS products and markup-reducing product churning through creative destruction shape the equilibrium distribution of markups. 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. January 2021 CFP 1710 Author(s) Michael Peters. ", Sergei Severinov & Michael Peters, 2004. His research mostly focuses on macroeconomics, economic development and growth, and international trade. 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). 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 A six-time winner of the McKinsey Award for the best Harvard Business Review article of the year, Professor Porter is the most cited author in business and economics. 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. CAPCP Center for the Study of Auctions, Procurements, and Competition Policy, CRIFES Center for Research on International Financial and Energy Security. So, at some point around 2010 I started to explore whether one could compile empirical evidence on this episode. I think we need more work to understand what happens when the population shrinks. 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. 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. ", Peters, Michael & Severinov, Sergei, 2006. American Economic Review. Most demographers expect the global population to decline starting by around 2065. ", Peters, Michael & Severinov, Sergei, 1997. He received his undergraduate degree in Economics at the University of Mannheim and his PhD from MIT. For the case of Germany, firm sorting acts as an amplifier of spatial inequality and accounts for. 2023 National Bureau of Economic Research. View Michael Peters' profile on LinkedIn, the world's largest professional community. Allen Head. Michael Peters - Contact Welcome to my website! The ensuing expulsion was implemented between 1945 and 1948 and represents one of the largest forced population movements in world history. 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. The findings echo Acemoglu et al. Phone (613) 533-2250 Fax (613) 533-6668 Email https . 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. (2006). To update listings or check citations waiting for approval, Michael Peters should log into the RePEc Author Service. 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. He received his undergraduate degree in Economics at the University of Mannheim and his PhD from MIT. I am an Assistant Professor at the Department of Economics at the University of California, San Diego. 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. A research summary and interview look at new work on the economic consequences of a large refugee settlement after World War II. 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? Michael Peters Economics Department, Yale University Verified email at yale.edu. 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. 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. 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". ", Peters, Michael & Severinov, Sergei, 2005. ", Peters, Michael & Severinov, Sergei, 2003. Michael Peters ; Michael Peters . 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. Like Tweet Share. Try again later. 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 1995 This paper explores two models of an economy in which contracts are exchanged. Speaker(s) Location. By 1950, about 8 million people had been transferred to West Germany, increasing its population by more than 20 percent. Michael Peters is an Associate Professor of Economics at Yale University and a Faculty Research Fellow at the NBER. In this paper, I study a particular historical episode to provide direct evidence for the empirical relevance of such scale effects.
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