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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. A bachelor of arts (ECLBA) or a bachelor of science degree (ECLBS) in economics. By 1950, about 8 million people had been transferred to West Germany, increasing its population by more than 20 percent. Follow. 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. Michael Porter is the author of 20 books and numerous articles including Competitive Strategy, Competitive Advantage, Competitive Advantage of Nations, and On Competition. 2 PDF A commitment folk theorem A. Kalai, E. Kalai, E. Lehrer, D. Samet 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. About; Graduate; IDE-MA Program; Undergraduate; Events; Research; Centers; P.O. There, details are also given on how to add or correct references and citations. 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. Title . Michael Peters ; Michael Peters . American Economic Journal . For example, after refugee settlement, the manufacturing sector expanded and stayed higher many years after refugees arrived. Cited by. In this paper, I study a particular historical episode to provide direct evidence for the empirical relevance of such scale effects. ", Celik, Gorkem & Peters, Michael, 2011. Some immigration is low-skilled, some immigration is high-skilled. ", Sergei Severinov & Michael Peters, 2004. Macroeconomics Development Economics Growth. Sort. Finally, the 1950s and 1960s were characterized by a secular increase in the manufacturing sector. The emergence of new cities in Rural America played a big part for this transition. 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. 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 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. 2038 MICHAEL PETERS products and markup-reducing product churning through creative destruction shape the equilibrium distribution of markups. 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. 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? You can help correct errors and omissions. Social Menu. hbbd``b`*@q`$3DY $,> L@)"3` 2 My research interests are in micro theory, especially the theory of competing mechanisms, and the theory of directed search. . Michael Peters Economics Department, Yale University Verified email at . We argue this trend has important consequences for creative destruction, product concentration, and firm dynamics. 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. Michael Peters Economics Department, Yale University Verified email at yale.edu. Like Tweet Share. Michael Peters from Yale will present Spatial Structural Change. Yale University - Department of Economics; Yale University - Cowles Foundation. In his research he focuses on economic growth and long-run economic development. 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 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. 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. 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 Verified email at yale.edu. American Economic Review 111 (1), 231-75, 2021. I am an Associate Professor in the Economics Department at Yale. 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. View Michael Peters' profile on LinkedIn, the world's largest professional community. %PDF-1.5 % ", Michael Peters & Ralph A. ", Michael Peters & Sergei Severinov, 2001. Michael Peters Economics Department, . The following articles are merged in Scholar. This particular setting is, of course, close to my heart. ", Peters, Michael & Severinov, Sergei, 1997. 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. 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. 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. The department offers a program of mentoring for students who want to pursue graduate education in economics (CARE). 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. Being from Germany myself, one hears lots of stories about the WW2 expulsion. Virtually all theories of economic growth predict a positive relationship between population size and productivity. How do local economies respond to large increases to the size of their population? [8] 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. 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. Articles Cited by Co-authors. 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. He received his undergraduate degree in Economics at the University of Mannheim and his PhD from MIT. Footer Menu. Penn State now offers a two-year program designated only for the M.A. Finally, most of the literature focusing on the link between density and productivity focuses on the effects of positive population shocks. hb```f``} cf`ah`.d0 The first months where very discouraging because so little data seemed to have survived. These results provide direct evidence on the link between population growth, industrialization, and subsequent income growth. 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". Winter, 1983. ", Halevy, Yoram & Peters, Michael, 2007. Michael Peters - Contact Welcome to my website! Department of Economics. I would love to see more quantitative work on the consequences of migration that takes such differences into account. 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. endstream endobj startxref 0 %%EOF 43 0 obj <>stream Michael Peters is an Associate Professor of Economics at Yale University and a Faculty Research Fellow at the NBER. ", Celik, Gorkem & Peters, Michael, 2008. To link different versions of the same work, where versions have a different title, use this form. ", Peters, Michael & Severinov, Sergei, 2003. At the same time, the historical sources were full of anecdotes, which seemed to point at exactly the mechanism I wanted to explore. 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. Start your day off right, with a Dayspring Coffee CAPCP Center for the Study of Auctions, Procurements, and Competition Policy, CRIFES Center for Research on International Financial and Energy Security. My results are consistent with this literature, even though my analysis takes a long-run view, which is I think more novel. 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). . The ensuing expulsion was implemented between 1945 and 1948 and represents one of the largest forced population movements in world history. & Severinov,S., 2001. Yale Department of Economics. ", Michael Peters & Sergei Severinov, 2008. 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. 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. hWR8~}aU)$pnf[=dXdf3 #LZ%HOKqe;sLX"e"a.j0&5uB0tpV p?dc>'53i[C^kq6C_jQylAt;23].8^AQx>nsl?Xge1Wp\g>. Speaker(s) Location. 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 were the results? Peters,M. But even within the US there are vast regional differences in the type of migrants that settle in different areas. Increases in per-capita income, particularly in the long run. Note that if the versions have a very similar title and are in the author's profile, the links will usually be created automatically. 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. armed forces vacation club for veterans 082 825 4557; welsh keith brymer jones wife zapperstore.xyz@gmail.com Title. A departmentalhonors programprovides a small group of outstanding students an opportunity for independent research and close contact with faculty and fellow students. I started working on growth theory during my PhD at MIT. Journal of Urban Economics, Volume 120, July 2022, 103454. There are two different undergraduate degrees in the College of the Liberal Arts that a student may earn in economics at Penn State. 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. Please note that most corrections can take a couple of weeks to filter through the various RePEc services. 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. targets the more productive firms can be beneficial in poor countries while being harmful in countries close to the economic frontier. Sort by citations Sort by year Sort by title. Columbia University. The program provides rigorous training in econometrics and quantitative economics as well as in economic theory. At least three aspects of this study seem particularly context specific. Before joining Yale University, he held a position at the London School of Economics. Try again later. Yale. What are some exciting areas for further research in this area? 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. For example, the recent influx of immigrants from Syria to Germany was pre-dominantly directed towards cities. 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. target no need to return item. Michael Peters is an Associate Professor of Economics at Yale University and a Faculty Research Fellow at the NBER. My aunt, for example, grew up in the Eastern Territories and had to flee on a horse. Business dynamism - namely job reallocation, firm entry and creative destruction - is declining. 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. 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. Productive firms thus settle in productive. In this paper, I study a particular historical episode to provide direct evidence for the empirical relevance of such scale effects. 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. ", Peters, Michael & Szentes, Balazs, 2009. ", Michael Peters & Sergei Severinov, 1995. 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. I think we need more work to understand what happens when the population shrinks. 180 * 2021: Negotiation and Take it or Leave it in Common Agency Journal of Economic Theory July 2003, Volume 111, Issue 1, Pages 88-109. . His research mostly focuses on macroeconomics, economic development and growth, and international trade. Michael Peters & Sergei Severinov, 2008. The findings echo Acemoglu et al. 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. J Blaum, C Lelarge, M Peters. Their, This "Cited by" count includes citations to the following articles in Scholar. "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. To make corrections to the bibliographic information of a particular item, find the technical contact on the abstract page of that item. I think there are so many related interesting and important questions to work on. Conor Walsh. Department of Economics Yale University 28 Hillhouse Avenue New Haven, CT 06511 Tel: (203) 436-8475 . 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. firm and location productivity arecomplements and labor market frictions are sufficiently large. Verified email at columbia.edu - Homepage. Students are exposed to detailed descriptions of 'how to' embark on a new venture in a logical manner. American Economic Review. 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. Comprehensive cases at the end of the text have been hand-picked by the authors to go hand-in-hand . Fabrizio Zilibotti. Most demographers expect the global population to decline starting by around 2065. 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. Queen's University Dunning Hall, Room 209 94 University Avenue Kingston, Ontario K7L 3N6. A minor in economics is open to students enrolled in any college. His research mostly focuses on macroeconomics, economic development and growth, and international trade. U Akcigit, H Alp, M Peters. Box 21345, New . However, these gains were heavily skewed toward high-income households living in urban districts. 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. 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. , & Michael Peters [NBER WP #26770] peer-reviewed publications: The Return to Big City Experience [04/22] w/ Mads Hejlesen . Population Growth and Firm-Product Dynamics (with Michael Peters) Population growth has declined markedly in almost all major economies. 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). January 2021 CFP 1710 Author(s) Michael 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. 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. It was a real pleasure to talk with Mohamed El-Erian and cover a wide range of topics from economic . ", Peters, Michael & Troncoso-Valverde, Cristian, 2010. It is ideal for those who pursue high level professional careers in industry and government, or further study for the Ph.D. degree. interests: Trade, Economic Geography, and Macroeconomics contact: . The large inflows led to persistent changes in the sectoral composition of the local economy. To what extent these findings have a direct relevance for immigration policy today, is a great question. For the case of Germany, firm sorting acts as an amplifier of spatial inequality and accounts for. Skip to main content 37 (2), pages 281-306, November. 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

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