The Geography of Remote Work . All material on this site has been provided by the respective publishers and authors. Michael Peters ; Michael Peters . 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. ", Peters, Michael & Severinov, Sergei, 1997. 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. Economics Department, Yale University - Cited by 1,053 - Macroeconomics - Development Economics - Growth . Create your own unique website with customizable templates. hbbd``b`*@q`$3DY $,> L@)"3` 2 Winter, 1983. Research - Michael Peters Publications Sprouting Cities: How Rural America Industrialized (with Fabian Eckert and John Juneau ) [American Economic Review P&P, forthcoming] Between 1880 to 1940, the US transformed from a largely agrarian to an industrialized economy. At a very general level, I am pretty confident that population density leads to higher productivity and there is a large empirical literature in urban economics that provides evidence for this to be the case. You can help correct errors and omissions. He has worked on theories of firm-dynamics, highlighting the role of markups for misallocation, the importance of managerial delegation for firm growth, and the consequences of falling population growth. Market Size and Spatial GrowthEvidence From Germany's Post-War Population Expulsions, Lack of Selection and Limits to Delegation: Firm Dynamics in Developing Countries, The Gains from Input Trade with Heterogeneous Importers, American Economic Journal: Macroeconomics, Heterogeneous Markups, Growth, and Endogenous Misallocation, Cowles Foundation for Research in Economics, Yale Federal Statistical Research Data Center. hWR8~}aU)$pnf[=dXdf3 #LZ%HOKqe;sLX"e"a.j0&5uB0tpV p?dc>'53i[C^kq6C_jQylAt;23].8^AQx>nsl?Xge1Wp\g>. Skip to main content Fertility rates in most of the developed world have already declined below 2 and we see the same trends in developing countries. He received his undergraduate degree in Economics at the University of Mannheim and his PhD from MIT. A research summary and interview look at new work on the economic consequences of a large refugee settlement after World War II. In his research he focuses on economic growth and long-run economic development. What motivated you to take on this research question? Cited by. For example, the recent influx of immigrants from Syria to Germany was pre-dominantly directed towards cities. CAPCP Center for the Study of Auctions, Procurements, and Competition Policy, CRIFES Center for Research on International Financial and Energy Security. At least three aspects of this study seem particularly context specific. 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. I started working on growth theory during my PhD at MIT. A minor in economics is open to students enrolled in any college. Lack of Selection and Limits to Delegation: Firm Dynamics in Developing Countries . To link different versions of the same work, where versions have a different title, use this form. 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. American Economic Review. By 1950, about 8 million people had been transferred to West Germany, increasing its population by more than 20 percent. This is in stark contrast to most episodes of voluntary migration, both in the modern era and in the past. What were the results? 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). About; Graduate; IDE-MA Program; Undergraduate; Events; Research; Centers; P.O. Some immigration is low-skilled, some immigration is high-skilled. . 6 October, 2021 4:00 pm-6:00 pm. Students are exposed to detailed descriptions of 'how to' embark on a new venture in a logical manner. The large inflows led to persistent changes in the sectoral composition of the local economy. January 2021 CFP 1710 Author(s) Michael Peters. 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 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. My research interests are in micro theory, especially the theory of competing mechanisms, and the theory of directed search. The system can't perform the operation now. At the heart of this analysis are West Germany population censuses for the years 1933, 1939, 1950, and 1961. Michael Peters Economics Department, Yale University Verified email at yale.edu. Negotiation and Take it or Leave it in Common Agency Journal of Economic Theory July 2003, Volume 111, Issue 1, Pages 88-109. . Michael Peters from Yale will present Spatial Structural Change. Macroeconomics Economic Growth Urban Economics. Michael Peters Economics SSRN Electronic Journal 2021 Virtually all theories of economic growth predict a positive relationship between population size and productivity. 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? 2023 National Bureau of Economic Research. Michael Peters is an Associate Professor of Economics at Yale University and a Faculty Research Fellow at the NBER. Journal of Urban Economics, Volume 120, July 2022, 103454. 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. armed forces vacation club for veterans 082 825 4557; welsh keith brymer jones wife zapperstore.xyz@gmail.com 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 . ", Peters, Michael & Severinov, Sergei, 2005. The findings echo Acemoglu et al. 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. Department of Economics Yale University 28 Hillhouse Avenue New Haven, CT 06511 Tel: (203) 436-8475 I think we need more work to understand what happens when the population shrinks. All Rights Reserved. We argue this trend has important consequences for creative destruction, product concentration, and firm dynamics. Articles Cited by Co-authors. This inflow increased the German population by almost 20%. What are the policy implications, if any, of this research? In my research I focus primarily on economic growth and long-run economic development. 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. These results provide direct evidence on the link between population growth, industrialization, and subsequent income growth. J Blaum, C Lelarge, M Peters. Peters,M. 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 He received his undergraduate degree in Economics at the University of Mannheim and his PhD from MIT. 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 department offers a program of mentoring for students who want to pursue graduate education in economics (CARE). To what extent these findings have a direct relevance for immigration policy today, is a great question. 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). Yale University - Department of Economics; Yale University - Cowles Foundation. 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. " An ascending double auction ," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. What are some exciting areas for further research in this area? Michael Peters Economics 1995 This paper explores two models of an economy in which contracts are exchanged. 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. Comprehensive cases at the end of the text have been hand-picked by the authors to go hand-in-hand . Footer Menu. Title . To update listings or check citations waiting for approval, Michael Peters should log into the RePEc Author Service. I think there are so many related interesting and important questions to work on. 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. But even within the US there are vast regional differences in the type of migrants that settle in different areas. For example, after refugee settlement, the manufacturing sector expanded and stayed higher many years after refugees arrived. [8] Yale Department of Economics. In particular, refugee settlement seemed to have ignited the process of industrialization in agricultural communities. It was a real pleasure to talk with Mohamed El-Erian and cover a wide range of topics from economic . Box 21345, New . targets the more productive firms can be beneficial in poor countries while being harmful in countries close to the economic frontier. 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. Macroeconomics Development Economics Growth. The emergence of new cities in Rural America played a big part for this transition. 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. Ming Xu. Note that if the versions have a very similar title and are in the author's profile, the links will usually be created automatically. 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. Author(s) Michael Peters. 2038 MICHAEL PETERS products and markup-reducing product churning through creative destruction shape the equilibrium distribution of markups. To make corrections to the bibliographic information of a particular item, find the technical contact on the abstract page of that item. 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 Peters & Sergei Severinov, 1995. ", Peters, Michael & Troncoso-Valverde, Cristian, 2010. Verified email at columbia.edu - Homepage. Department of Economics, University of Chicago - Cited by 9,241 - Macroeconomics - Economic Growth - Firm Dynamics - Entrepreneurship - Innovation . These findings are quantita- tively consistent with an idea-based model of spatial growth if population mobility is subject to frictions and productivity spillovers occur locally. Michael Peters Economics Department, . The link between market size and productivity has always been a central aspect in the field but there was relatively little empirical work. My aunt, for example, grew up in the Eastern Territories and had to flee on a horse. & Severinov,S., 2001. At the same time, the historical sources were full of anecdotes, which seemed to point at exactly the mechanism I wanted to explore. 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). Speaker(s) Location. target no need to return item. I am an Assistant Professor at the Department of Economics at the University of California, San Diego. 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. 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). Peters, Michael and Alp Simsek (2009), Solutions Manual for "Introduction to Modern Economic Growth", Princeton University Press. 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. ", Michael Peters & Ralph A. ", Peters, Michael & Troncoso-Valverde, Cristin, 2013. 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. Economics Department, Yale University. Their, This "Cited by" count includes citations to the following articles in Scholar. Second, the refugees were allocated to rural areas and not to urban centers. The following articles are merged in Scholar. His research mostly focuses on macroeconomics, economic development and growth, and international trade. There, details are also given on how to add or correct references and citations. Productive firms thus settle in productive. "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. Department of Economics. ", Peters, Michael & Szentes, Balazs, 2009. This particular setting is, of course, close to my heart. And they, luckily, had taken pictures of the old census publications, which I could digitize. 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. 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 So, at some point around 2010 I started to explore whether one could compile empirical evidence on this episode. Like Tweet Share. Try again later. 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 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. In this paper, I study a particular historical episode to provide direct evidence for the empirical relevance of such scale effects. 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 the case of India, service-led growth was an important driver of risingliving standard. ", Peters, Michael & Severinov, Sergei, 2003. Columbia University. ", Celik, Gorkem & Peters, Michael, 2008. The ensuing expulsion was implemented between 1945 and 1948 and represents one of the largest forced population movements in world history. 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". Business dynamism - namely job reallocation, firm entry and creative destruction - is declining. 2 PDF A commitment folk theorem A. Kalai, E. Kalai, E. Lehrer, D. Samet Economics Powered by Create your own unique website with customizable templates. 0q$D~;4} AF@D m endstream endobj 20 0 obj <> endobj 21 0 obj <> endobj 22 0 obj <>stream I am also a research affiliate at the CEPR and a faculty research fellow at the NBER. Social Menu. 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. Yale. 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. The first months where very discouraging because so little data seemed to have survived. Increases in per-capita income, particularly in the long run. His research mostly focuses on macroeconomics, economic development and growth, and international trade. In his work on growth and economic geography, he analyzed the long-run consequences of large-scale migration, both in post-war Germany and for the US in the 19th century. I would love to see more quantitative work on the consequences of migration that takes such differences into account. degree in economics. Conor Walsh. 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. 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 %PDF-1.5 % 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. A departmentalhonors programprovides a small group of outstanding students an opportunity for independent research and close contact with faculty and fellow students. 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. Michael Peters is an Associate Professor of Economics at Yale University and a Faculty Research Fellow at the NBER. First, the German economy had just emerged from the Second World War and firm creation might have been particularly mobile across space. Population Growth and Firm-Product Dynamics (with Michael Peters) Population growth has declined markedly in almost all major economies. Finally, the 1950s and 1960s were characterized by a secular increase in the manufacturing sector. 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. , & Michael Peters [NBER WP #26770] peer-reviewed publications: The Return to Big City Experience [04/22] w/ Mads Hejlesen . American Economic Journal . Please note that most corrections can take a couple of weeks to filter through the various RePEc services. Fabrizio Zilibotti. Sort. Finally, most of the literature focusing on the link between density and productivity focuses on the effects of positive population shocks. Before joining Yale University, he held a position at the London School of Economics. Refugee settlement led to persistent increases in the local population, the share of people working in manufacturing, and income per capita. 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. Virtually all theories of economic growth predict a positive relationship between population size and productivity. Follow. In his research he focuses on economic growth and long-run economic development. Sort by citations Sort by year Sort by title. Allen Head. Title. Penn State now offers a two-year program designated only for the M.A. endstream endobj startxref 0 %%EOF 43 0 obj <>stream Is the rise of services only due to income effects or can growth be service-led? firm and location productivity arecomplements and labor market frictions are sufficiently large. See all articles by Michael Peters Michael Peters. In this paper, I study a particular historical episode to provide direct evidence for the empirical relevance of such scale effects. . The program provides rigorous training in econometrics and quantitative economics as well as in economic theory. 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. 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. As far as immigration is concerned, there is still lots to understand in terms of the importance of the type of skills immigrants bring. Understanding better what the likely economic effects of this unprecedented change are going to be seems very important to me. 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 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. . I am an Associate Professor in the Economics Department at Yale. Start your day off right, with a Dayspring Coffee His research mostly focuses on macroeconomics, economic development and growth, and international trade. 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. U Akcigit, H Alp, M Peters. ", Epstein, Larry G. & Peters, Michael, 1999. American Economic Review 111 (1), 231-75, 2021. ". Michael Porter is the author of 20 books and numerous articles including Competitive Strategy, Competitive Advantage, Competitive Advantage of Nations, and On Competition. 180 * 2021: (2006). 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.
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