A research summary and interview look at new work on the economic consequences of a large refugee settlement after World War II. Solutions Manual - Michael Peters Yale Department of Economics. We argue this trend has important consequences for creative destruction, product concentration, and firm dynamics. Department of Economics. fabian eckert ", Peters, Michael & Troncoso-Valverde, Cristian, 2010. Comprehensive cases at the end of the text have been hand-picked by the authors to go hand-in-hand . 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). The Gains from Input Trade with Heterogeneous Importers U Akcigit, H Alp, M Peters. I think we need more work to understand what happens when the population shrinks. Finally, the 1950s and 1960s were characterized by a secular increase in the manufacturing sector. What are some exciting areas for further research in this area? In many developing countries, structural transformation takes the form of a rapid rise of services with limited industrialization. Fabrizio Zilibotti. Michael Peters - Vice President Corporate Strategy - LinkedIn Conor Walsh - Google Scholar This inflow increased the German population by almost 20%. 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. Start your day off right, with a Dayspring Coffee His research mostly focuses on macroeconomics, economic development and growth, and international trade. Business dynamism - namely job reallocation, firm entry and creative destruction - is declining. 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 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. What are the policy implications, if any, of this research? Is the rise of services only due to income effects or can growth be service-led? . 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 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. Market Size and Spatial Growth - Evidence from Germany's Post-War Michael Peters - Contact Welcome to my website! Michael Peters Economics Department, . For the case of Germany, firm sorting acts as an amplifier of spatial inequality and accounts for. 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. There, details are also given on how to add or correct references and citations. Michael Peters - Contact A Revelation Principle for Competing Mechanisms Columbia University. 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. 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. 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. View Michael Peters' profile on LinkedIn, the world's largest professional community. 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. Students who receive a Ph.D. from Penn State and whose doctoral research is excellent have been recruited and sought after by leading academic and research institutions: our Ph.D. students have obtained tenure-track positions at Chicago, Harvard, Johns Hopkins, MIT, Northwestern, NYU, UPenn and many more. ", Peters, Michael & Severinov, Sergei, 1997. , & Michael Peters [NBER WP #26770] peer-reviewed publications: The Return to Big City Experience [04/22] w/ Mads Hejlesen . Michael Peters ; Michael Peters . 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 Michael Peters from Yale will present Spatial Structural Change. "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. 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. [PDF] A folk theorem for competing mechanisms | Semantic Scholar It was a real pleasure to talk with Mohamed El-Erian and cover a wide range of topics from economic . 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 Economics SSRN Electronic Journal 2021 Virtually all theories of economic growth predict a positive relationship between population size and productivity. To update listings or check citations waiting for approval, Michael Peters should log into the RePEc Author Service. Research. . Productive firms thus settle in productive. Michael Peters Economics Department, Yale University Verified email at yale.edu. For example, after refugee settlement, the manufacturing sector expanded and stayed higher many years after refugees arrived. 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. 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. 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 . In his research he focuses on economic growth and long-run economic development. For general information on how to correct material on RePEc, see these instructions. 2023 National Bureau of Economic Research. Phone (613) 533-2250 Fax (613) 533-6668 Email https . In his research he focuses on economic growth and long-run economic development. ", Michael Peters & Sergei Severinov, 2008. Winter, 1983. Queen's University Dunning Hall, Room 209 94 University Avenue Kingston, Ontario K7L 3N6. 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. New Research by Michael Peters on the Economic Consequences of Refugee In this paper, I study a particular historical episode to provide direct evidence for the empirical relevance of such scale effects. Title. Michael Peters Economics 1995 This paper explores two models of an economy in which contracts are exchanged. Fertility rates in most of the developed world have already declined below 2 and we see the same trends in developing countries. But even within the US there are vast regional differences in the type of migrants that settle in different areas. 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. Create your own unique website with customizable templates. Note that if the versions have a very similar title and are in the author's profile, the links will usually be created automatically. CAPCP Center for the Study of Auctions, Procurements, and Competition Policy, CRIFES Center for Research on International Financial and Energy Security. Title . Michael Peters Economics Department, Yale University Verified email at . Michael Peters - Vancouver School of Economics It is ideal for those who pursue high level professional careers in industry and government, or further study for the Ph.D. degree. What motivated you to take on this research question? michael peters economics ubc Population Growth and Firm-Product Dynamics (with Michael Peters) Population growth has declined markedly in almost all major economies. 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. Michael Peters | Cowles Foundation for Research in Economics About; Graduate; IDE-MA Program; Undergraduate; Events; Research; Centers; P.O. A bachelor of arts (ECLBA) or a bachelor of science degree (ECLBS) in economics. A minor in economics is open to students enrolled in any college. Department of Economics Yale University 28 Hillhouse Avenue New Haven, CT 06511 Tel: (203) 436-8475 ", Peters, Michael & Troncoso-Valverde, Cristin, 2013. The first months where very discouraging because so little data seemed to have survived. American Economic Review 111 (1), 231-75, 2021. The department offers a program of mentoring for students who want to pursue graduate education in economics (CARE). firm and location productivity arecomplements and labor market frictions are sufficiently large. ", Peters, Michael & Severinov, Sergei, 2006. By 1950, about 8 million people had been transferred to West Germany, increasing its population by more than 20 percent. At the heart of this analysis are West Germany population censuses for the years 1933, 1939, 1950, and 1961. In this paper, I study a particular historical episode to provide direct evidence for the empirical relevance of such scale effects. 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. Economics Department, Yale University - Cited by 1,053 - Macroeconomics - Development Economics - Growth . 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. 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. For example, the recent influx of immigrants from Syria to Germany was pre-dominantly directed towards cities. 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". First, the German economy had just emerged from the Second World War and firm creation might have been particularly mobile across space. Social Menu. " Internet auctions with many traders ," Working papers 11, Wisconsin Madison - Social Systems. Being from Germany myself, one hears lots of stories about the WW2 expulsion. 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. With leading researchers in economic theory, econometrics, international economics, and macroeconomics, the Economics Department at Penn State is an outstanding department. interests: Trade, Economic Geography, and Macroeconomics contact: . 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. At the same time, the historical sources were full of anecdotes, which seemed to point at exactly the mechanism I wanted to explore. Research - Michael Peters In particular, refugee settlement seemed to have ignited the process of industrialization in agricultural communities. My aunt, for example, grew up in the Eastern Territories and had to flee on a horse. How do local economies respond to large increases to the size of their population? Verified email at yale.edu. Macroeconomics Economic Growth Urban Economics. Michael Peters | Yale Economic Growth Center targets the more productive firms can be beneficial in poor countries while being harmful in countries close to the economic frontier. Macroeconomics Development Economics Growth. Yale University - Department of Economics; Yale University - Cowles Foundation. Peters,M. These results provide direct evidence on the link between population growth, industrialization, and subsequent income growth. & Severinov,S., 2001. Research Conor Walsh Financial Accounting, 11th Edition | Wiley degree in economics. To what extent these findings have a direct relevance for immigration policy today, is a great question. Michael Peters - Google Scholar Michael Porter - Wikipedia ", Sergei Severinov & Michael Peters, 2004. The link between market size and productivity has always been a central aspect in the field but there was relatively little empirical work. Fabian Eckert - Google Scholar Affiliation: Yale. PDF MICHAEL PETERS A 2022 - Economics.yale.edu Speaker(s) Location. At least three aspects of this study seem particularly context specific. Virtually all theories of economic growth predict a positive relationship between population size and productivity. ", Epstein, Larry G. & Peters, Michael, 1999. American Economic Review. 180 * 2021: 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. 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. 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. hWR8~}aU)$pnf[=dXdf3 #LZ%HOKqe;sLX"e"a.j0&5uB0tpV p?dc>'53i[C^kq6C_jQylAt;23].8^AQx>nsl?Xge1Wp\g>. Publications by author | Yale Department of Economics Department of Economics, University of Chicago - Cited by 9,241 - Macroeconomics - Economic Growth - Firm Dynamics - Entrepreneurship - Innovation . Before joining Yale University, he held a position at the London School of Economics. PDF Heterogeneous Markups, Growth, and Endogenous Misallocation 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. In my research I focus primarily on economic growth and long-run economic development. 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. A departmentalhonors programprovides a small group of outstanding students an opportunity for independent research and close contact with faculty and fellow students. His research mostly focuses on macroeconomics, economic development and growth, and international trade. For the case of India, service-led growth was an important driver of risingliving standard. There are two different undergraduate degrees in the College of the Liberal Arts that a student may earn in economics at Penn State. Michael Peters | Yale Department of Economics To make corrections to the bibliographic information of a particular item, find the technical contact on the abstract page of that item. 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. Second, the refugees were allocated to rural areas and not to urban centers. ". Their, This "Cited by" count includes citations to the following articles in Scholar. 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). So, at some point around 2010 I started to explore whether one could compile empirical evidence on this episode. All material on this site has been provided by the respective publishers and authors. 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.