Finally, the 1950s and 1960s were characterized by a secular increase in the manufacturing sector. What motivated you to take on this research question? We argue this trend has important consequences for creative destruction, product concentration, and firm dynamics. 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. What were the results? ", Halevy, Yoram & Peters, Michael, 2007. Michael Peters Economics Department, Yale University Verified email at . 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. By 1950, about 8 million people had been transferred to West Germany, increasing its population by more than 20 percent. But even within the US there are vast regional differences in the type of migrants that settle in different areas. In his research he focuses on economic growth and long-run economic development. My results are consistent with this literature, even though my analysis takes a long-run view, which is I think more novel. CAPCP Center for the Study of Auctions, Procurements, and Competition Policy, CRIFES Center for Research on International Financial and Energy Security. About; Graduate; IDE-MA Program; Undergraduate; Events; Research; Centers; P.O. Virtually all theories of economic growth predict a positive relationship between population size and productivity. 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. Fertility rates in most of the developed world have already declined below 2 and we see the same trends in developing countries. Research Conor Walsh 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. ", Celik, Gorkem & Peters, Michael, 2008. For general information on how to correct material on RePEc, see these instructions. January 2021 CFP 1710 Author(s) Michael Peters. Peters, Michael and Alp Simsek (2009), Solutions Manual for "Introduction to Modern Economic Growth", Princeton University Press. endstream endobj startxref 0 %%EOF 43 0 obj <>stream What are the policy implications, if any, of this research? With leading researchers in economic theory, econometrics, international economics, and macroeconomics, the Economics Department at Penn State is an outstanding department. 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 . A bachelor of arts (ECLBA) or a bachelor of science degree (ECLBS) in economics. The department offers a program of mentoring for students who want to pursue graduate education in economics (CARE). The program provides rigorous training in econometrics and quantitative economics as well as in economic theory. 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. 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 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. My research interests are in micro theory, especially the theory of competing mechanisms, and the theory of directed search. Michael Porter - Wikipedia The Gains from Input Trade with Heterogeneous Importers Virtual. hbbd``b`*@q`$3DY $,> L@)"3` 2 For example, after refugee settlement, the manufacturing sector expanded and stayed higher many years after refugees arrived. 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. Michael Peters. . I think we need more work to understand what happens when the population shrinks. First, the German economy had just emerged from the Second World War and firm creation might have been particularly mobile across space. ", Peters, Michael & Troncoso-Valverde, Cristian, 2010. And they, luckily, had taken pictures of the old census publications, which I could digitize. Michael Peters - Contact Welcome to my website! ", Michael Peters & Sergei Severinov, 2008. Michael Peters - Vice President Corporate Strategy - LinkedIn Like Tweet Share. Phone (613) 533-2250 Fax (613) 533-6668 Email https . 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. ", Peters, Michael & Szentes, Balazs, 2009. To what extent these findings have a direct relevance for immigration policy today, is a great question. The first months where very discouraging because so little data seemed to have survived. 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. 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. 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. PDF MICHAEL PETERS A 2022 - Economics.yale.edu Michael Peters Economics SSRN Electronic Journal 2021 Virtually all theories of economic growth predict a positive relationship between population size and productivity. 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. Macroeconomics Economic Growth Urban Economics. firm and location productivity arecomplements and labor market frictions are sufficiently large. ", Michael Peters & Ralph A. Peters,M. To update listings or check citations waiting for approval, Michael Peters should log into the RePEc Author Service. Lack of Selection and Limits to Delegation: Firm Dynamics in Developing Countries . 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. Journal of Urban Economics, Volume 120, July 2022, 103454. 6 October, 2021 4:00 pm-6:00 pm. Michael Peters is an Associate Professor of Economics at Yale University and a Faculty Research Fellow at the NBER. ". [PDF] Declining Dynamism, Increasing Markups and Missing Growth: The However, these gains were heavily skewed toward high-income households living in urban districts. Population Growth and Firm-Product Dynamics (with Michael Peters) Population growth has declined markedly in almost all major economies. 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 heart of this analysis are West Germany population censuses for the years 1933, 1939, 1950, and 1961. Being from Germany myself, one hears lots of stories about the WW2 expulsion. 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). [8] 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. Conor Walsh. armed forces vacation club for veterans 082 825 4557; welsh keith brymer jones wife zapperstore.xyz@gmail.com Comprehensive cases at the end of the text have been hand-picked by the authors to go hand-in-hand . 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. Try again later. 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. 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. 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). Business dynamism - namely job reallocation, firm entry and creative destruction - is declining. Creative Destruction, Distance to Frontier, and Economic Development by These results provide direct evidence on the link between population growth, industrialization, and subsequent income 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, Heterogeneous Markups, Growth, and Endogenous Misallocation. Their, This "Cited by" count includes citations to the following articles in Scholar. 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. You can help correct errors and omissions. Allen Head. ", Peters, Michael & Severinov, Sergei, 2005. Michael Porter is the author of 20 books and numerous articles including Competitive Strategy, Competitive Advantage, Competitive Advantage of Nations, and On Competition. Winter, 1983. The system can't perform the operation now. " An ascending double auction ," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. Speaker(s) Location. Yale Department of Economics. 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. 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. Department of Economics, University of Chicago - Cited by 9,241 - Macroeconomics - Economic Growth - Firm Dynamics - Entrepreneurship - Innovation . Financial Accounting in an Economic Context - Jamie Pratt, Michael F His research mostly focuses on macroeconomics, economic development and growth, and international trade. Department of Economics Yale University 28 Hillhouse Avenue New Haven, CT 06511 Tel: (203) 436-8475 Michael Peters & Sergei Severinov, 2008. 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. The following articles are merged in Scholar. Refugee settlement led to persistent increases in the local population, the share of people working in manufacturing, and income per capita. Michael Peters - Contact Research | montoya.econ.ubc.ca 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. There, details are also given on how to add or correct references and citations. 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. He received his undergraduate degree in Economics at the University of Mannheim and his PhD from MIT. Articles Cited by Co-authors. 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. Yale University - Department of Economics; Yale University - Cowles Foundation. 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. Michael Peters | Yale Department of Economics (2006). ", Michael Peters & Sergei Severinov, 2001. targets the more productive firms can be beneficial in poor countries while being harmful in countries close to the economic frontier. Affiliation: Yale. Department of Economics. 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 ensuing expulsion was implemented between 1945 and 1948 and represents one of the largest forced population movements in world history. Ming Xu. Michael Peters Economics 1995 This paper explores two models of an economy in which contracts are exchanged. 0q$D~;4} AF@D m endstream endobj 20 0 obj <> endobj 21 0 obj <> endobj 22 0 obj <>stream His research mostly focuses on macroeconomics, economic development and growth, and international trade. Columbia University. This particular setting is, of course, close to my heart. 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. Fabrizio Zilibotti. We develop a methodology to measure the aggregate effects of input trade that takes such heterogeneity into account. Michael Peters - Vancouver School of Economics I am also a research affiliate at the CEPR and a faculty research fellow at the NBER. I would love to see more quantitative work on the consequences of migration that takes such differences into account. Publications by author | Yale Department of Economics ", Peters, Michael & Troncoso-Valverde, Cristin, 2013. Michael Peters | NBER In this paper, I study a particular historical episode to provide direct evidence for the empirical relevance of such scale effects. Solutions Manual - Michael Peters 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. 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. New Research by Michael Peters on the Economic Consequences of Refugee Powered by Create your own unique website with customizable templates. %PDF-1.5 % So, at some point around 2010 I started to explore whether one could compile empirical evidence on this episode. Business dynamism - namely job reallocation, firm entry and creative destruction - 20 PDF View 7 excerpts, cites results and methods fabian eckert Michael Peters | IDEAS/RePEc Verified email at yale.edu. Social Menu. Michael Peters - Google Scholar [PDF] Firm Creation and Local Growth | Semantic Scholar Title. Market Size and Spatial Growth - Evidence from Germany's Post-War [PDF] The End of Economic Growth? Unintended Consequences of a Understanding better what the likely economic effects of this unprecedented change are going to be seems very important to me. 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. hb```f``} cf`ah`.d0 To link different versions of the same work, where versions have a different title, use this form. New research by Yale Economist Michael Peters, new paper, published in Econometrica last month, New Research by Michael Peters on the Economic Consequences of Refugee Settlements. Verified email at columbia.edu - Homepage. ", Michael Peters & Sergei Severinov, 1995. Research. It is ideal for those who pursue high level professional careers in industry and government, or further study for the Ph.D. degree. Penn State now offers a two-year program designated only for the M.A. , & Michael Peters [NBER WP #26770] peer-reviewed publications: The Return to Big City Experience [04/22] w/ Mads Hejlesen . In many developing countries, structural transformation takes the form of a rapid rise of services with limited industrialization. ", Celik, Gorkem & Peters, Michael, 2011. 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. In particular, refugee settlement seemed to have ignited the process of industrialization in agricultural communities. In his research he focuses on economic growth and long-run economic development.
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