Before joining Yale University, he held a position at the London School of Economics. Peters, Michael and Alp Simsek (2009), Solutions Manual for "Introduction to Modern Economic Growth", Princeton University Press. ", Michael Peters & Sergei Severinov, 2001. 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. . 2 PDF A commitment folk theorem A. Kalai, E. Kalai, E. Lehrer, D. Samet Economics Finally, most of the literature focusing on the link between density and productivity focuses on the effects of positive population shocks. 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 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. Columbia University. ", Peters, Michael & Severinov, Sergei, 2003. 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. There are two different undergraduate degrees in the College of the Liberal Arts that a student may earn in economics at Penn State. Second, the refugees were allocated to rural areas and not to urban centers. Allen Head. ", Peters, Michael & Troncoso-Valverde, Cristin, 2013. 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. 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 Economics SSRN Electronic Journal 2021 Virtually all theories of economic growth predict a positive relationship between population size and productivity. ", Celik, Gorkem & Peters, Michael, 2011. American Economic Journal . Create your own unique website with customizable templates. It is ideal for those who pursue high level professional careers in industry and government, or further study for the Ph.D. degree. 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. ", Sergei Severinov & Michael Peters, 2004. 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. 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. Macroeconomics Development Economics Growth. Affiliation: Yale. Being from Germany myself, one hears lots of stories about the WW2 expulsion. Yale Department of Economics. 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 Published 1 October 2021 Economics SSRN Electronic Journal Virtually all theories of economic growth predict a positive relationship between population size and productivity. " Internet auctions with many traders ," Working papers 11, Wisconsin Madison - Social Systems. His research mostly focuses on macroeconomics, economic development and growth, and international trade. To what extent these findings have a direct relevance for immigration policy today, is a great question. Lack of Selection and Limits to Delegation: Firm Dynamics in Developing Countries . With leading researchers in economic theory, econometrics, international economics, and macroeconomics, the Economics Department at Penn State is an outstanding department. targets the more productive firms can be beneficial in poor countries while being harmful in countries close to the economic frontier. %PDF-1.5 % In this paper, I study a particular historical episode to provide direct evidence for the empirical relevance of such scale effects. Is the rise of services only due to income effects or can growth be service-led? American Economic Review. All Rights Reserved. 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 . target no need to return item. At the same time, the historical sources were full of anecdotes, which seemed to point at exactly the mechanism I wanted to explore. 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. 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. . This inflow increased the German population by almost 20%. ", Peters, Michael & Szentes, Balazs, 2009. Try again later. 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. Most demographers expect the global population to decline starting by around 2065. He received his undergraduate degree in Economics at the University of Mannheim and his PhD from MIT. 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. We argue this trend has important consequences for creative destruction, product concentration, and firm dynamics. Negotiation and Take it or Leave it in Common Agency Journal of Economic Theory July 2003, Volume 111, Issue 1, Pages 88-109. . 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. armed forces vacation club for veterans 082 825 4557; welsh keith brymer jones wife zapperstore.xyz@gmail.com Speaker(s) Location. In my research I focus primarily on economic growth and long-run economic development. Michael Peters is an Associate Professor of Economics at Yale University and a Faculty Research Fellow at the NBER. 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. Social Menu. American Economic Review 111 (1), 231-75, 2021. I would love to see more quantitative work on the consequences of migration that takes such differences into account. In his research he focuses on economic growth and long-run economic development. 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). Economics Department, Yale University - Cited by 1,053 - Macroeconomics - Development Economics - Growth . Research. , & Michael Peters [NBER WP #26770] peer-reviewed publications: The Return to Big City Experience [04/22] w/ Mads Hejlesen . ", Michael Peters & Sergei Severinov, 1995. In this paper, I study a particular historical episode to provide direct evidence for the empirical relevance of such scale effects. Michael Peters ; Michael Peters . 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). Understanding better what the likely economic effects of this unprecedented change are going to be seems very important to me. My research interests are in micro theory, especially the theory of competing mechanisms, and the theory of directed search. "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. 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. Penn State now offers a two-year program designated only for the M.A. Department of Economics. 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. 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. But even within the US there are vast regional differences in the type of migrants that settle in different areas. Sort. Please note that most corrections can take a couple of weeks to filter through the various RePEc services. As far as immigration is concerned, there is still lots to understand in terms of the importance of the type of skills immigrants bring. He received his undergraduate degree in Economics at the University of Mannheim and his PhD from MIT. Michael Peters - Contact Welcome to my website! Box 21345, New . Productive firms thus settle in productive. Some immigration is low-skilled, some immigration is high-skilled. In his research he focuses on economic growth and long-run economic development. For example, after refugee settlement, the manufacturing sector expanded and stayed higher many years after refugees arrived. However, these gains were heavily skewed toward high-income households living in urban districts. Powered by Create your own unique website with customizable templates. 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. endstream endobj startxref 0 %%EOF 43 0 obj <>stream Yale University - Department of Economics; Yale University - Cowles Foundation. This is in stark contrast to most episodes of voluntary migration, both in the modern era and in the past. Virtually all theories of economic growth predict a positive relationship between population size and productivity. 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. 6 October, 2021 4:00 pm-6:00 pm. Business dynamism - namely job reallocation, firm entry and creative destruction - 20 PDF View 7 excerpts, cites results and methods This particular setting is, of course, close to my heart. 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. 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. U Akcigit, H Alp, M Peters. Michael Peters is an Associate Professor of Economics at Yale University and a Faculty Research Fellow at the NBER. 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. ", Peters, Michael & Severinov, Sergei, 1997. 0q$D~;4} AF@D m endstream endobj 20 0 obj <> endobj 21 0 obj <> endobj 22 0 obj <>stream What are some exciting areas for further research in this area? . 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 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. I think there are so many related interesting and important questions to work on. 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. interests: Trade, Economic Geography, and Macroeconomics contact: . The link between market size and productivity has always been a central aspect in the field but there was relatively little empirical work. 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. Verified email at columbia.edu - Homepage. 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. [8] A bachelor of arts (ECLBA) or a bachelor of science degree (ECLBS) in economics. 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 I think we need more work to understand what happens when the population shrinks. A minor in economics is open to students enrolled in any college. ", Halevy, Yoram & Peters, Michael, 2007. 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. Author(s) Michael Peters. At least three aspects of this study seem particularly context specific. ", Michael Peters & Sergei Severinov, 2008. 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. 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. The program provides rigorous training in econometrics and quantitative economics as well as in economic theory. Department of Economics Yale University 28 Hillhouse Avenue New Haven, CT 06511 Tel: (203) 436-8475 Queen's University Dunning Hall, Room 209 94 University Avenue Kingston, Ontario K7L 3N6. 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. Sort by citations Sort by year Sort by title. See all articles by Michael Peters Michael Peters. (2006). Articles Cited by Co-authors. ", Peters, Michael & Troncoso-Valverde, Cristian, 2010. In particular, refugee settlement seemed to have ignited the process of industrialization in agricultural communities. Fabrizio Zilibotti. Department of Economics, University of Chicago - Cited by 9,241 - Macroeconomics - Economic Growth - Firm Dynamics - Entrepreneurship - Innovation . Journal of Urban Economics, Volume 120, July 2022, 103454. Business dynamism - namely job reallocation, firm entry and creative destruction - is declining. Cited by. 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". 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. In many developing countries, structural transformation takes the form of a rapid rise of services with limited industrialization. Title. 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? 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. firm and location productivity arecomplements and labor market frictions are sufficiently large. degree in economics. Michael Peters & Sergei Severinov, 2008. To update listings or check citations waiting for approval, Michael Peters should log into the RePEc Author Service. Michael Peters. hb```f``} cf`ah`.d0 Verified email at yale.edu. For the case of Germany, firm sorting acts as an amplifier of spatial inequality and accounts for. My results are consistent with this literature, even though my analysis takes a long-run view, which is I think more novel. The system can't perform the operation now. First, the German economy had just emerged from the Second World War and firm creation might have been particularly mobile across space. Macroeconomics Economic Growth Urban Economics. Peters,M. My aunt, for example, grew up in the Eastern Territories and had to flee on a horse. Comprehensive cases at the end of the text have been hand-picked by the authors to go hand-in-hand . ", Peters, Michael & Severinov, Sergei, 2006. Footer Menu. All material on this site has been provided by the respective publishers and authors. 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 Michael Peters is an Associate Professor of Economics at Yale University and a Faculty Research Fellow at the NBER. Michael Peters Economics Department, Yale University Verified email at yale.edu. 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 It was a real pleasure to talk with Mohamed El-Erian and cover a wide range of topics from economic . Ming Xu. I am an Assistant Professor at the Department of Economics at the University of California, San Diego. . To make corrections to the bibliographic information of a particular item, find the technical contact on the abstract page of that item. 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 J Blaum, C Lelarge, M Peters. Michael Peters Economics Department, Yale University Verified email at . Michael Peters Vancouver School of Economics University of British Columbia 600 Iona Drive Vancouver, Canada V6T 1L4 604-822-4418 peters econ ubc ca. 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. Start your day off right, with a Dayspring Coffee What motivated you to take on this research question? ", Michael Peters & Ralph 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. The first months where very discouraging because so little data seemed to have survived. 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). Population Growth and Firm-Product Dynamics (with Michael Peters) Population growth has declined markedly in almost all major economies. 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. About; Graduate; IDE-MA Program; Undergraduate; Events; Research; Centers; P.O. His research mostly focuses on macroeconomics, economic development and growth, and international trade. Michael Porter is the author of 20 books and numerous articles including Competitive Strategy, Competitive Advantage, Competitive Advantage of Nations, and On Competition. Like Tweet Share. What are the policy implications, if any, of this research? Conor Walsh. I started working on growth theory during my PhD at MIT. At the heart of this analysis are West Germany population censuses for the years 1933, 1939, 1950, and 1961. The Geography of Remote Work . The findings echo Acemoglu et al. 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