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. At the same time, the historical sources were full of anecdotes, which seemed to point at exactly the mechanism I wanted to explore. 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. 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. 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. "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. Fertility rates in most of the developed world have already declined below 2 and we see the same trends in developing countries. 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 But even within the US there are vast regional differences in the type of migrants that settle in different areas. Michael Peters & Sergei Severinov, 2008. Being from Germany myself, one hears lots of stories about the WW2 expulsion. Negotiation and Take it or Leave it in Common Agency Journal of Economic Theory July 2003, Volume 111, Issue 1, Pages 88-109. . We develop a methodology to measure the aggregate effects of input trade that takes such heterogeneity into account. 0q$D~;4} AF@D m endstream endobj 20 0 obj <> endobj 21 0 obj <> endobj 22 0 obj <>stream In particular, refugee settlement seemed to have ignited the process of industrialization in agricultural communities. Second, the refugees were allocated to rural areas and not to urban centers. . What are the policy implications, if any, of this research? Michael Peters, Conor Walsh Economics SSRN Electronic Journal 2019 A growing body of empirical research highlights substantial changes in the US economy during the last three decades. Box 21345, New . Michael Peters Economics Department, . Michael Peters ; Michael Peters . Macroeconomics Development Economics Growth. His research mostly focuses on macroeconomics, economic development and growth, and international trade. Lack of Selection and Limits to Delegation: Firm Dynamics in Developing Countries . I am an Associate Professor in the Economics Department at Yale. For general information on how to correct material on RePEc, see these instructions. Winter, 1983. J Blaum, C Lelarge, M Peters. 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. Affiliation: Yale. 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? Some immigration is low-skilled, some immigration is high-skilled. Is the rise of services only due to income effects or can growth be service-led? Cited by. Virtual. Speaker(s) Location. The ensuing expulsion was implemented between 1945 and 1948 and represents one of the largest forced population movements in world history. To what extent these findings have a direct relevance for immigration policy today, is a great question. target no need to return item. A minor in economics is open to students enrolled in any college. ", Peters, Michael & Severinov, Sergei, 2003. Title . 180 * 2021: Economics Department, Yale University - Cited by 1,053 - Macroeconomics - Development Economics - Growth . 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. Economics Department, Yale University. Population Growth and Firm-Product Dynamics (with Michael Peters) Population growth has declined markedly in almost all major economies. Department of Economics. My research interests are in micro theory, especially the theory of competing mechanisms, and the theory of directed search. ", Peters, Michael & Troncoso-Valverde, Cristian, 2010. The following articles are merged in Scholar. Social Menu. 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. However, these gains were heavily skewed toward high-income households living in urban districts. Allen Head. 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). 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. Articles Cited by Co-authors. 19 0 obj <> endobj 28 0 obj <>/Filter/FlateDecode/ID[<70ADE99825F75C65B66EE155A86C2D05>]/Index[19 25]/Info 18 0 R/Length 64/Prev 76524/Root 20 0 R/Size 44/Type/XRef/W[1 2 1]>>stream To make corrections to the bibliographic information of a particular item, find the technical contact on the abstract page of that item. By 1950, about 8 million people had been transferred to West Germany, increasing its population by more than 20 percent. 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. Footer Menu. Penn State now offers a two-year program designated only for the M.A. How do local economies respond to large increases to the size of their population? My aunt, for example, grew up in the Eastern Territories and had to flee on a horse. See all articles by Michael Peters Michael Peters. Comprehensive cases at the end of the text have been hand-picked by the authors to go hand-in-hand . Please note that most corrections can take a couple of weeks to filter through the various RePEc services. These results provide direct evidence on the link between population growth, industrialization, and subsequent income growth. To update listings or check citations waiting for approval, Michael Peters should log into the RePEc Author Service. Peters,M. " Internet auctions with many traders ," Working papers 11, Wisconsin Madison - Social Systems. 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. Department of Economics Yale University 28 Hillhouse Avenue New Haven, CT 06511 Tel: (203) 436-8475 U Akcigit, H Alp, M Peters. Business dynamism - namely job reallocation, firm entry and creative destruction - is declining. Department of Economics, University of Chicago - Cited by 9,241 - Macroeconomics - Economic Growth - Firm Dynamics - Entrepreneurship - Innovation . & Severinov,S., 2001. 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. ", Michael Peters & Sergei Severinov, 1995. The emergence of new cities in Rural America played a big part for this transition. 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. 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 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. About; Graduate; IDE-MA Program; Undergraduate; Events; Research; Centers; P.O. View Michael Peters' profile on LinkedIn, the world's largest professional community. Create your own unique website with customizable templates. Follow. 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. Conor Walsh. 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. targets the more productive firms can be beneficial in poor countries while being harmful in countries close to the economic frontier. Michael Peters. Michael Peters - Contact Welcome to my website! interests: Trade, Economic Geography, and Macroeconomics contact: . 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. 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. 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. Business dynamism - namely job reallocation, firm entry and creative destruction - 20 PDF View 7 excerpts, cites results and methods First, the German economy had just emerged from the Second World War and firm creation might have been particularly mobile across space. I think we need more work to understand what happens when the population shrinks. 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 Geography of Remote Work . We argue this trend has important consequences for creative destruction, product concentration, and firm dynamics. The system can't perform the operation now. The first months where very discouraging because so little data seemed to have survived. My results are consistent with this literature, even though my analysis takes a long-run view, which is I think more novel. Michael Porter is the author of 20 books and numerous articles including Competitive Strategy, Competitive Advantage, Competitive Advantage of Nations, and On Competition. 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. 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 Finally, most of the literature focusing on the link between density and productivity focuses on the effects of positive population shocks. ", Peters, Michael & Severinov, Sergei, 2005. Most demographers expect the global population to decline starting by around 2065. Sort by citations Sort by year Sort by title. Author(s) Michael Peters. The large inflows led to persistent changes in the sectoral composition of the local economy. 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. Like Tweet Share. . CAPCP Center for the Study of Auctions, Procurements, and Competition Policy, CRIFES Center for Research on International Financial and Energy Security. Ming Xu. Finally, the 1950s and 1960s were characterized by a secular increase in the manufacturing sector. ", Peters, Michael & Troncoso-Valverde, Cristin, 2013. Title. 6 October, 2021 4:00 pm-6:00 pm. Note that if the versions have a very similar title and are in the author's profile, the links will usually be created automatically. Phone (613) 533-2250 Fax (613) 533-6668 Email https . There, details are also given on how to add or correct references and citations. hbbd``b`*@q`$3DY $,> L@)"3` 2 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. . His research mostly focuses on macroeconomics, economic development and growth, and international trade. 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. The program provides rigorous training in econometrics and quantitative economics as well as in economic theory. 2 PDF A commitment folk theorem A. Kalai, E. Kalai, E. Lehrer, D. Samet Economics ", Celik, Gorkem & Peters, Michael, 2011. All Rights Reserved. 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. A research summary and interview look at new work on the economic consequences of a large refugee settlement after World War II. Yale Department of Economics. In many developing countries, structural transformation takes the form of a rapid rise of services with limited industrialization. Michael Peters from Yale will present Spatial Structural Change. 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 . Virtually all theories of economic growth predict a positive relationship between population size and productivity. For example, after refugee settlement, the manufacturing sector expanded and stayed higher many years after refugees arrived. ", Peters, Michael & Severinov, Sergei, 2006. Start your day off right, with a Dayspring Coffee January 2021 CFP 1710 Author(s) Michael Peters. hWR8~}aU)$pnf[=dXdf3 #LZ%HOKqe;sLX"e"a.j0&5uB0tpV p?dc>'53i[C^kq6C_jQylAt;23].8^AQx>nsl?Xge1Wp\g>. In my research I focus primarily on economic growth and long-run economic development. 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. 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. Verified email at yale.edu. His research mostly focuses on macroeconomics, economic development and growth, and international trade. 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). ", Michael Peters & Ralph A. 37 (2), pages 281-306, November. Michael Peters Economics 1995 This paper explores two models of an economy in which contracts are exchanged. ", Michael Peters & Sergei Severinov, 2008. Students are exposed to detailed descriptions of 'how to' embark on a new venture in a logical manner. He received his undergraduate degree in Economics at the University of Mannheim and his PhD from MIT. Michael Peters is an Associate Professor of Economics at Yale University and a Faculty Research Fellow at the NBER. Fabrizio Zilibotti. 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 So, at some point around 2010 I started to explore whether one could compile empirical evidence on this episode. Sort. 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". 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. 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. 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. ". 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. 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. There are two different undergraduate degrees in the College of the Liberal Arts that a student may earn in economics at Penn State. And they, luckily, had taken pictures of the old census publications, which I could digitize. ", Michael Peters & Sergei Severinov, 2001. The findings echo Acemoglu et al. This inflow increased the German population by almost 20%. ", Halevy, Yoram & Peters, Michael, 2007. 2038 MICHAEL PETERS products and markup-reducing product churning through creative destruction shape the equilibrium distribution of markups. 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. For the case of Germany, firm sorting acts as an amplifier of spatial inequality and accounts for. 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. To link different versions of the same work, where versions have a different title, use this form. 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. He received his undergraduate degree in Economics at the University of Mannheim and his PhD from MIT. All material on this site has been provided by the respective publishers and authors. For example, the recent influx of immigrants from Syria to Germany was pre-dominantly directed towards cities. 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. ", Sergei Severinov & Michael Peters, 2004. 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 The department offers a program of mentoring for students who want to pursue graduate education in economics (CARE). 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. Michael Peters is an Associate Professor of Economics at Yale University and a Faculty Research Fellow at the NBER. 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. In his research he focuses on economic growth and long-run economic development. I think there are so many related interesting and important questions to work on. American Economic Journal . 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. At least three aspects of this study seem particularly context specific. degree in economics. Michael Peters is an Associate Professor of Economics at Yale University and a Faculty Research Fellow at the NBER. Refugee settlement led to persistent increases in the local population, the share of people working in manufacturing, and income per capita. 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. Before joining Yale University, he held a position at the London School of Economics. Columbia University. , & Michael Peters [NBER WP #26770] peer-reviewed publications: The Return to Big City Experience [04/22] w/ Mads Hejlesen . At the heart of this analysis are West Germany population censuses for the years 1933, 1939, 1950, and 1961. 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. endstream endobj startxref 0 %%EOF 43 0 obj <>stream Verified email at columbia.edu - Homepage. This particular setting is, of course, close to my heart. Increases in per-capita income, particularly in the long run. 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. 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. Yale. What are some exciting areas for further research in this area? Peters, Michael and Alp Simsek (2009), Solutions Manual for "Introduction to Modern Economic Growth", Princeton University Press. 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. 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. American Economic Review 111 (1), 231-75, 2021. A bachelor of arts (ECLBA) or a bachelor of science degree (ECLBS) in economics. Research. ", Celik, Gorkem & Peters, Michael, 2008. Try again later. Skip to main content 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). I started working on growth theory during my PhD at MIT. This is in stark contrast to most episodes of voluntary migration, both in the modern era and in the past. You can help correct errors and omissions. I would love to see more quantitative work on the consequences of migration that takes such differences into account. In his research he focuses on economic growth and long-run economic development. The link between market size and productivity has always been a central aspect in the field but there was relatively little empirical work. (2006). In this paper, I study a particular historical episode to provide direct evidence for the empirical relevance of such scale effects. Yale University - Department of Economics; Yale University - Cowles Foundation. 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. Their, This "Cited by" count includes citations to the following articles in Scholar.
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