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 is an Associate Professor of Economics at Yale University and a Faculty Research Fellow at the NBER. ", Peters, Michael & Szentes, Balazs, 2009. Footer Menu. Yale Department of Economics. 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. 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. ", Celik, Gorkem & Peters, Michael, 2011. Michael Peters Vancouver School of Economics University of British Columbia 600 Iona Drive Vancouver, Canada V6T 1L4 604-822-4418 peters econ ubc ca. degree in economics. With leading researchers in economic theory, econometrics, international economics, and macroeconomics, the Economics Department at Penn State is an outstanding department. 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). Sort. To link different versions of the same work, where versions have a different title, use this form. 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. He received his undergraduate degree in Economics at the University of Mannheim and his PhD from MIT. For general information on how to correct material on RePEc, see these instructions. 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. Penn State now offers a two-year program designated only for the M.A. , & Michael Peters [NBER WP #26770] peer-reviewed publications: The Return to Big City Experience [04/22] w/ Mads Hejlesen . To update listings or check citations waiting for approval, Michael Peters should log into the RePEc Author Service. 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. At the heart of this analysis are West Germany population censuses for the years 1933, 1939, 1950, and 1961. Conor Walsh. Being from Germany myself, one hears lots of stories about the WW2 expulsion. Yale. Michael Peters is an Associate Professor of Economics at Yale University and a Faculty Research Fellow at the NBER. 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 . The first months where very discouraging because so little data seemed to have survived. Start your day off right, with a Dayspring Coffee Title. I am also a research affiliate at the CEPR and a faculty research fellow at the NBER. 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 His research mostly focuses on macroeconomics, economic development and growth, and international trade. 0q$D~;4} AF@D m endstream endobj 20 0 obj <> endobj 21 0 obj <> endobj 22 0 obj <>stream Ming Xu. By 1950, about 8 million people had been transferred to West Germany, increasing its population by more than 20 percent. 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. American Economic Journal . It was a real pleasure to talk with Mohamed El-Erian and cover a wide range of topics from economic . A bachelor of arts (ECLBA) or a bachelor of science degree (ECLBS) in economics. ", Michael Peters & Sergei Severinov, 2001. Virtual. 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. Michael Porter is the author of 20 books and numerous articles including Competitive Strategy, Competitive Advantage, Competitive Advantage of Nations, and On Competition. 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. Allen Head. The ensuing expulsion was implemented between 1945 and 1948 and represents one of the largest forced population movements in world history. The large inflows led to persistent changes in the sectoral composition of the local economy. His research mostly focuses on macroeconomics, economic development and growth, and international trade. The emergence of new cities in Rural America played a big part for this transition. Create your own unique website with customizable templates. 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 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. 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. Department of Economics Yale University 28 Hillhouse Avenue New Haven, CT 06511 Tel: (203) 436-8475 Students are exposed to detailed descriptions of 'how to' embark on a new venture in a logical manner. Peters, Michael and Alp Simsek (2009), Solutions Manual for "Introduction to Modern Economic Growth", Princeton University Press. ", Sergei Severinov & Michael Peters, 2004. Articles Cited by Co-authors. What are the policy implications, if any, of this research? For the case of India, service-led growth was an important driver of risingliving standard. Refugee settlement led to persistent increases in the local population, the share of people working in manufacturing, and income per capita. Verified email at columbia.edu - Homepage. Finally, the 1950s and 1960s were characterized by a secular increase in the manufacturing sector. [8] armed forces vacation club for veterans 082 825 4557; welsh keith brymer jones wife zapperstore.xyz@gmail.com 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. " Internet auctions with many traders ," Working papers 11, Wisconsin Madison - Social Systems. I started working on growth theory during my PhD at MIT. 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. Negotiation and Take it or Leave it in Common Agency Journal of Economic Theory July 2003, Volume 111, Issue 1, Pages 88-109. . 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. . Some immigration is low-skilled, some immigration is high-skilled. Fabrizio Zilibotti. "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. hbbd``b`*@q`$3DY $,> L@)"3` 2 American Economic Review. . I think there are so many related interesting and important questions to work on. 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. %PDF-1.5 % He has worked on theories of firm-dynamics, highlighting the role of markups for misallocation, the importance of managerial delegation for firm growth, and the consequences of falling population growth. Michael Peters Economics Department, Yale University Verified email at . Michael Peters from Yale will present Spatial Structural Change. Title . 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. ", Peters, Michael & Troncoso-Valverde, Cristian, 2010. Note that if the versions have a very similar title and are in the author's profile, the links will usually be created automatically. 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. Understanding better what the likely economic effects of this unprecedented change are going to be seems very important to me. There are two different undergraduate degrees in the College of the Liberal Arts that a student may earn in economics at Penn State. But even within the US there are vast regional differences in the type of migrants that settle in different areas. 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. What are some exciting areas for further research in this area? 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. ", Michael Peters & Sergei Severinov, 2008. The findings echo Acemoglu et al. 2 PDF A commitment folk theorem A. Kalai, E. Kalai, E. Lehrer, D. Samet Economics 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. (2006). 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. 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. Sort by citations Sort by year Sort by title. U Akcigit, H Alp, M Peters. 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. Macroeconomics Development Economics Growth. About; Graduate; IDE-MA Program; Undergraduate; Events; Research; Centers; P.O. However, these gains were heavily skewed toward high-income households living in urban districts. 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 This particular setting is, of course, close to my heart. Try again later. 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. ", Peters, Michael & Severinov, Sergei, 2005. J Blaum, C Lelarge, M Peters. Skip to main content Second, the refugees were allocated to rural areas and not to urban centers. 6 October, 2021 4:00 pm-6:00 pm. This inflow increased the German population by almost 20%. 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. Michael Peters Economics Department, . 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. Fertility rates in most of the developed world have already declined below 2 and we see the same trends in developing 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. Population Growth and Firm-Product Dynamics (with Michael Peters) Population growth has declined markedly in almost all major economies. 2038 MICHAEL PETERS products and markup-reducing product churning through creative destruction shape the equilibrium distribution of markups. 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. He received his undergraduate degree in Economics at the University of Mannheim and his PhD from MIT. I would love to see more quantitative work on the consequences of migration that takes such differences into account. 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. 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. ", Peters, Michael & Severinov, Sergei, 1997. His research mostly focuses on macroeconomics, economic development and growth, and international trade. Macroeconomics Economic Growth Urban Economics. CAPCP Center for the Study of Auctions, Procurements, and Competition Policy, CRIFES Center for Research on International Financial and Energy Security. There, details are also given on how to add or correct references and citations. & Severinov,S., 2001. The system can't perform the operation now. So, at some point around 2010 I started to explore whether one could compile empirical evidence on this episode. 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 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. Queen's University Dunning Hall, Room 209 94 University Avenue Kingston, Ontario K7L 3N6. Follow. I think we need more work to understand what happens when the population shrinks. Economics Department, Yale University. Increases in per-capita income, particularly in the long run. For the case of Germany, firm sorting acts as an amplifier of spatial inequality and accounts for. To what extent these findings have a direct relevance for immigration policy today, is a great question. Columbia University. ", Epstein, Larry G. & Peters, Michael, 1999. 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. 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). Department of Economics. January 2021 CFP 1710 Author(s) Michael Peters. What were the results? Affiliation: Yale. 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. ", Halevy, Yoram & Peters, Michael, 2007. 2023 National Bureau of Economic Research. Yale University - Department of Economics; Yale University - Cowles Foundation. Before joining Yale University, he held a position at the London School of Economics. Finally, he studied the process of structural change, both in the US in the past and for present-day India, emphasizing the consequences on inequality across both people and space. For example, the recent influx of immigrants from Syria to Germany was pre-dominantly directed towards cities. Cited by. Productive firms thus settle in productive. Department of Economics, University of Chicago - Cited by 9,241 - Macroeconomics - Economic Growth - Firm Dynamics - Entrepreneurship - Innovation . It is ideal for those who pursue high level professional careers in industry and government, or further study for the Ph.D. degree. All Rights Reserved. ", Peters, Michael & Severinov, Sergei, 2003. These results provide direct evidence on the link between population growth, industrialization, and subsequent income growth. endstream endobj startxref 0 %%EOF 43 0 obj <>stream 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. Powered by Create your own unique website with customizable templates. ", Peters, Michael & Troncoso-Valverde, Cristin, 2013. I am an Associate Professor in the Economics Department at Yale. A minor in economics is open to students enrolled in any college. My research interests are in micro theory, especially the theory of competing mechanisms, and the theory of directed search. 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. Most demographers expect the global population to decline starting by around 2065. The Geography of Remote Work . I am an Assistant Professor at the Department of Economics at the University of California, San Diego. The following articles are merged in Scholar. 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. All material on this site has been provided by the respective publishers and authors. In particular, refugee settlement seemed to have ignited the process of industrialization in agricultural communities. This is in stark contrast to most episodes of voluntary migration, both in the modern era and in the past. targets the more productive firms can be beneficial in poor countries while being harmful in countries close to the economic frontier. Journal of Urban Economics, Volume 120, July 2022, 103454. We develop a methodology to measure the aggregate effects of input trade that takes such heterogeneity into account. 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. 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. . 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. Economics Department, Yale University - Cited by 1,053 - Macroeconomics - Development Economics - Growth . 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 A departmentalhonors programprovides a small group of outstanding students an opportunity for independent research and close contact with faculty and fellow students. 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 & Ralph A. 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. 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 My aunt, for example, grew up in the Eastern Territories and had to flee on a horse. 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. Verified email at yale.edu. The department offers a program of mentoring for students who want to pursue graduate education in economics (CARE). Author(s) Michael Peters. 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.