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 & Sergei Severinov, 2008. ", Peters, Michael & Severinov, Sergei, 2003. In his research he focuses on economic growth and long-run economic development. CAPCP Center for the Study of Auctions, Procurements, and Competition Policy, CRIFES Center for Research on International Financial and Energy Security. Business dynamism - namely job reallocation, firm entry and creative destruction - 20 PDF View 7 excerpts, cites results and methods 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. 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. For example, the recent influx of immigrants from Syria to Germany was pre-dominantly directed towards cities. Most demographers expect the global population to decline starting by around 2065. "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. At least three aspects of this study seem particularly context specific. This inflow increased the German population by almost 20%. Before joining Yale University, he held a position at the London School of 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. The link between market size and productivity has always been a central aspect in the field but there was relatively little empirical work. See all articles by Michael Peters Michael Peters. Social Menu. Michael Peters Economics Department, Yale University Verified email at yale.edu. All material on this site has been provided by the respective publishers and authors. " An ascending double auction ," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. ", Halevy, Yoram & Peters, Michael, 2007. Articles Cited by Co-authors. degree in economics. Skip to main content His research mostly focuses on macroeconomics, economic development and growth, and international trade. 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. 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. To make corrections to the bibliographic information of a particular item, find the technical contact on the abstract page of that item. The program provides rigorous training in econometrics and quantitative economics as well as in economic theory. Create your own unique website with customizable templates. 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). Negotiation and Take it or Leave it in Common Agency Journal of Economic Theory July 2003, Volume 111, Issue 1, Pages 88-109. . Try again later. Michael Peters Economics 1995 This paper explores two models of an economy in which contracts are exchanged. firm and location productivity arecomplements and labor market frictions are sufficiently large. For example, after refugee settlement, the manufacturing sector expanded and stayed higher many years after refugees arrived. 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. My aunt, for example, grew up in the Eastern Territories and had to flee on a horse. American Economic Journal . All Rights Reserved. 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. Michael Porter is the author of 20 books and numerous articles including Competitive Strategy, Competitive Advantage, Competitive Advantage of Nations, and On Competition. 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). 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 . 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. 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. Peters,M. Yale. ", Michael Peters & Ralph A. First, the German economy had just emerged from the Second World War and firm creation might have been particularly mobile across space. Peters, Michael and Alp Simsek (2009), Solutions Manual for "Introduction to Modern Economic Growth", Princeton University Press. Population Growth and Firm-Product Dynamics (with Michael Peters) Population growth has declined markedly in almost all major economies. American Economic Review 111 (1), 231-75, 2021. %PDF-1.5 % It is ideal for those who pursue high level professional careers in industry and government, or further study for the Ph.D. degree. At the same time, the historical sources were full of anecdotes, which seemed to point at exactly the mechanism I wanted to explore. Understanding better what the likely economic effects of this unprecedented change are going to be seems very important to me. & Severinov,S., 2001. 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. ", Epstein, Larry G. & Peters, Michael, 1999. To what extent these findings have a direct relevance for immigration policy today, is a great question. Macroeconomics Development Economics Growth. 2023 National Bureau of Economic Research. Note that if the versions have a very similar title and are in the author's profile, the links will usually be created automatically. What were the results? I am an Associate Professor in the Economics Department at Yale. 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. By 1950, about 8 million people had been transferred to West Germany, increasing its population by more than 20 percent. Michael Peters ; Michael Peters . Columbia University. What are some exciting areas for further research in this area? To link different versions of the same work, where versions have a different title, use this form. 37 (2), pages 281-306, November. Michael Peters from Yale will present Spatial Structural Change. Follow. Affiliation: Yale. 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. U Akcigit, H Alp, M Peters. His research mostly focuses on macroeconomics, economic development and growth, and international trade. Michael Peters & Sergei Severinov, 2008. Some immigration is low-skilled, some immigration is high-skilled. Business dynamism - namely job reallocation, firm entry and creative destruction - is declining. At the heart of this analysis are West Germany population censuses for the years 1933, 1939, 1950, and 1961. Michael Peters Economics Department, Yale University Verified email at . target no need to return item. Journal of Urban Economics, Volume 120, July 2022, 103454. targets the more productive firms can be beneficial in poor countries while being harmful in countries close to the economic frontier. Their, This "Cited by" count includes citations to the following articles in Scholar. But even within the US there are vast regional differences in the type of migrants that settle in different areas. Michael Peters | Yale Economic Growth Center Home People Michael Peters Faculty Associate Professor of Economics Contact P. 203-436-8475 E. m.peters@yale.edu Expertise Development Economics, International Trade, Macroeconomics Website Download C.V. To update listings or check citations waiting for approval, Michael Peters should log into the RePEc Author Service. 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. Is the rise of services only due to income effects or can growth be service-led? ". For general information on how to correct material on RePEc, see these instructions. In this paper, I study a particular historical episode to provide direct evidence for the empirical relevance of such scale effects. 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. 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. He received his undergraduate degree in Economics at the University of Mannheim and his PhD from MIT. For the case of India, service-led growth was an important driver of risingliving standard. 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. 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 Being from Germany myself, one hears lots of stories about the WW2 expulsion. Department of Economics, University of Chicago - Cited by 9,241 - Macroeconomics - Economic Growth - Firm Dynamics - Entrepreneurship - Innovation . 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. In my research I focus primarily on economic growth and long-run economic development. . Economics Department, Yale University. Sort by citations Sort by year Sort by title. Fabrizio Zilibotti. 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. The first months where very discouraging because so little data seemed to have survived. 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. Title . 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 With leading researchers in economic theory, econometrics, international economics, and macroeconomics, the Economics Department at Penn State is an outstanding department. 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 is an Associate Professor of Economics at Yale University and a Faculty Research Fellow at the NBER. 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. Verified email at columbia.edu - Homepage. 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. Yale University - Department of Economics; Yale University - Cowles Foundation. However, these gains were heavily skewed toward high-income households living in urban districts. 2 PDF A commitment folk theorem A. Kalai, E. Kalai, E. Lehrer, D. Samet Economics The Geography of Remote Work . Please note that most corrections can take a couple of weeks to filter through the various RePEc services. 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. Fertility rates in most of the developed world have already declined below 2 and we see the same trends in developing countries. Powered by Create your own unique website with customizable templates. American Economic Review. 0q$D~;4} AF@D m endstream endobj 20 0 obj <> endobj 21 0 obj <> endobj 22 0 obj <>stream Ming Xu. ", Peters, Michael & Severinov, Sergei, 2006. 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. endstream endobj startxref 0 %%EOF 43 0 obj <>stream Comprehensive cases at the end of the text have been hand-picked by the authors to go hand-in-hand . How do local economies respond to large increases to the size of their population? These results provide direct evidence on the link between population growth, industrialization, and subsequent income growth. We argue this trend has important consequences for creative destruction, product concentration, and firm dynamics. As far as immigration is concerned, there is still lots to understand in terms of the importance of the type of skills immigrants bring. Queen's University Dunning Hall, Room 209 94 University Avenue Kingston, Ontario K7L 3N6. 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". The ensuing expulsion was implemented between 1945 and 1948 and represents one of the largest forced population movements in world history. This is in stark contrast to most episodes of voluntary migration, both in the modern era and in the past. ", Peters, Michael & Troncoso-Valverde, Cristian, 2010. ", Michael Peters & Sergei Severinov, 2001. hbbd``b`*@q`$3DY $,> L@)"3` 2 " Internet auctions with many traders ," Working papers 11, Wisconsin Madison - Social Systems. Increases in per-capita income, particularly in the long run. In his research he focuses on economic growth and long-run economic development. A minor in economics is open to students enrolled in any college. 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. Michael Peters Vancouver School of Economics University of British Columbia 600 Iona Drive Vancouver, Canada V6T 1L4 604-822-4418 peters econ ubc ca. 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. . Penn State now offers a two-year program designated only for the M.A. 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. For the case of Germany, firm sorting acts as an amplifier of spatial inequality and accounts for. We develop a methodology to measure the aggregate effects of input trade that takes such heterogeneity into account. ", Peters, Michael & Severinov, Sergei, 2005. 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 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. I think there are so many related interesting and important questions to work on. 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 ", Peters, Michael & Szentes, Balazs, 2009. 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. 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 Department of Economics. 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 The system can't perform the operation now. 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. Speaker(s) Location. 180 * 2021: What motivated you to take on this research question? About; Graduate; IDE-MA Program; Undergraduate; Events; Research; Centers; P.O. 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. 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. Michael Peters is an Associate Professor of Economics at Yale University and a Faculty Research Fellow at the NBER. Like Tweet Share. January 2021 CFP 1710 Author(s) Michael Peters. 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 Economics Department, Yale University - Cited by 1,053 - Macroeconomics - Development Economics - Growth . This particular setting is, of course, close to my heart. Department of Economics Yale University 28 Hillhouse Avenue New Haven, CT 06511 Tel: (203) 436-8475 There, details are also given on how to add or correct references and citations. ", Peters, Michael & Troncoso-Valverde, Cristin, 2013. Yale Department of Economics. 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. My results are consistent with this literature, even though my analysis takes a long-run view, which is I think more novel. Virtual. hWR8~}aU)$pnf[=dXdf3 #LZ%HOKqe;sLX"e"a.j0&5uB0tpV p?dc>'53i[C^kq6C_jQylAt;23].8^AQx>nsl?Xge1Wp\g>. His research mostly focuses on macroeconomics, economic development and growth, and international trade. I am also a research affiliate at the CEPR and a faculty research fellow at the NBER. 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.