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. Is the rise of services only due to income effects or can growth be service-led? Refugee settlement led to persistent increases in the local population, the share of people working in manufacturing, and income per capita. 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. 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. 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 my research I focus primarily on economic growth and long-run economic development. Department of Economics, University of Chicago - Cited by 9,241 - Macroeconomics - Economic Growth - Firm Dynamics - Entrepreneurship - Innovation . Comprehensive cases at the end of the text have been hand-picked by the authors to go hand-in-hand . 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. Box 21345, New . 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. Queen's University Dunning Hall, Room 209 94 University Avenue Kingston, Ontario K7L 3N6. He received his undergraduate degree in Economics at the University of Mannheim and his PhD from MIT. Yale Department of Economics. In many developing countries, structural transformation takes the form of a rapid rise of services with limited industrialization. Phone (613) 533-2250 Fax (613) 533-6668 Email https . Title. Virtually all theories of economic growth predict a positive relationship between population size and productivity. It is ideal for those who pursue high level professional careers in industry and government, or further study for the Ph.D. degree. ", Celik, Gorkem & Peters, Michael, 2011. 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. Peters,M. First, the German economy had just emerged from the Second World War and firm creation might have been particularly mobile across space. ", Halevy, Yoram & Peters, Michael, 2007. 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. Create your own unique website with customizable templates. 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 [NBER WP #26770] peer-reviewed publications: The Return to Big City Experience [04/22] w/ Mads Hejlesen . 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. So, at some point around 2010 I started to explore whether one could compile empirical evidence on this episode. He received his undergraduate degree in Economics at the University of Mannheim and his PhD from MIT. The emergence of new cities in Rural America played a big part for this transition. In this paper, I study a particular historical episode to provide direct evidence for the empirical relevance of such scale effects. 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. endstream endobj startxref 0 %%EOF 43 0 obj <>stream The system can't perform the operation now. & Severinov,S., 2001. 180 * 2021: ", Peters, Michael & Severinov, Sergei, 2003. 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 Students are exposed to detailed descriptions of 'how to' embark on a new venture in a logical manner. 2023 National Bureau of Economic Research. I think there are so many related interesting and important questions to work on. ", Epstein, Larry G. & Peters, Michael, 1999. Powered by Create your own unique website with customizable templates. . Department of Economics. Productive firms thus settle in productive. This is in stark contrast to most episodes of voluntary migration, both in the modern era and in the past. 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. 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. 6 October, 2021 4:00 pm-6:00 pm. 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 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. But even within the US there are vast regional differences in the type of migrants that settle in different areas. The Geography of Remote Work . 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. We develop a methodology to measure the aggregate effects of input trade that takes such heterogeneity into account. Population Growth and Firm-Product Dynamics (with Michael Peters) Population growth has declined markedly in almost all major economies. 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. Michael Peters is an Associate Professor of Economics at Yale University and a Faculty Research Fellow at the NBER. Please note that most corrections can take a couple of weeks to filter through the various RePEc services. 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. The following articles are merged in Scholar. Start your day off right, with a Dayspring Coffee Macroeconomics Economic Growth Urban Economics. American Economic Review. firm and location productivity arecomplements and labor market frictions are sufficiently large. ", Peters, Michael & Troncoso-Valverde, Cristian, 2010. The large inflows led to persistent changes in the sectoral composition of the local economy. In his research he focuses on economic growth and long-run economic development. My research interests are in micro theory, especially the theory of competing mechanisms, and the theory of directed search. U Akcigit, H Alp, M Peters. 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. What were the results? All Rights Reserved. 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. It was a real pleasure to talk with Mohamed El-Erian and cover a wide range of topics from economic . Michael Peters Economics Department, Yale University Verified email at . These results provide direct evidence on the link between population growth, industrialization, and subsequent income growth. 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. " Internet auctions with many traders ," Working papers 11, Wisconsin Madison - Social Systems. 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. Virtual. hb```f``} cf`ah`.d0 2 PDF A commitment folk theorem A. Kalai, E. Kalai, E. Lehrer, D. Samet Economics ", Celik, Gorkem & Peters, Michael, 2008. Michael Peters. What are some exciting areas for further research in this area? ", Michael Peters & Sergei Severinov, 1995. 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. Social Menu. 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. Like Tweet Share. I am an Associate Professor in the Economics Department at Yale. I am also a research affiliate at the CEPR and a faculty research fellow at the NBER. For example, after refugee settlement, the manufacturing sector expanded and stayed higher many years after refugees arrived. I am an Assistant Professor at the Department of Economics at the University of California, San Diego. 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. 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. A departmentalhonors programprovides a small group of outstanding students an opportunity for independent research and close contact with faculty and fellow students. 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. Verified email at columbia.edu - Homepage. . armed forces vacation club for veterans 082 825 4557; welsh keith brymer jones wife zapperstore.xyz@gmail.com In this paper, I study a particular historical episode to provide direct evidence for the empirical relevance of such scale effects. Finally, the 1950s and 1960s were characterized by a secular increase in the manufacturing sector. The department offers a program of mentoring for students who want to pursue graduate education in economics (CARE). As far as immigration is concerned, there is still lots to understand in terms of the importance of the type of skills immigrants bring. Business dynamism - namely job reallocation, firm entry and creative destruction - 20 PDF View 7 excerpts, cites results and methods Skip to main content ", Peters, Michael & Szentes, Balazs, 2009. My results are consistent with this literature, even though my analysis takes a long-run view, which is I think more novel. 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 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). CAPCP Center for the Study of Auctions, Procurements, and Competition Policy, CRIFES Center for Research on International Financial and Energy Security. Michael Peters Economics Department, . There are two different undergraduate degrees in the College of the Liberal Arts that a student may earn in economics at Penn State. Note that if the versions have a very similar title and are in the author's profile, the links will usually be created automatically. (2006). See all articles by Michael Peters Michael Peters. " An ascending double auction ," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. Michael Peters from Yale will present Spatial Structural Change. 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. Cited by. I would love to see more quantitative work on the consequences of migration that takes such differences into account. Business dynamism - namely job reallocation, firm entry and creative destruction - is declining. Footer Menu. Increases in per-capita income, particularly in the long run. A bachelor of arts (ECLBA) or a bachelor of science degree (ECLBS) in economics. interests: Trade, Economic Geography, and Macroeconomics contact: . degree in economics. Economics Department, Yale University. 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 By 1950, about 8 million people had been transferred to West Germany, increasing its population by more than 20 percent. 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 . Michael Peters Economics Department, Yale University Verified email at yale.edu. Department of Economics Yale University 28 Hillhouse Avenue New Haven, CT 06511 Tel: (203) 436-8475 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. His research mostly focuses on macroeconomics, economic development and growth, and international trade. 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. Sort. target no need to return item. hbbd``b`*@q`$3DY $,> L@)"3` 2 To update listings or check citations waiting for approval, Michael Peters should log into the RePEc Author Service. He has worked on theories of firm-dynamics, highlighting the role of markups for misallocation, the importance of managerial delegation for firm growth, and the consequences of falling population growth. This particular setting is, of course, close to my heart. ", Michael Peters & Ralph A. Journal of Urban Economics, Volume 120, July 2022, 103454. At the same time, the historical sources were full of anecdotes, which seemed to point at exactly the mechanism I wanted to explore. To what extent these findings have a direct relevance for immigration policy today, is a great question. Michael Porter is the author of 20 books and numerous articles including Competitive Strategy, Competitive Advantage, Competitive Advantage of Nations, and On Competition. 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 and Alp Simsek (2009), Solutions Manual for "Introduction to Modern Economic Growth", Princeton University Press. Ming Xu. I think we need more work to understand what happens when the population shrinks. View Michael Peters' profile on LinkedIn, the world's largest professional community. . Macroeconomics Development Economics Growth. 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). American Economic Review 111 (1), 231-75, 2021. 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. . The findings echo Acemoglu et al. Fabrizio Zilibotti. ", Michael Peters & Sergei Severinov, 2008. Winter, 1983. 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. 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.
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