It was a real pleasure to talk with Mohamed El-Erian and cover a wide range of topics from economic . His research mostly focuses on macroeconomics, economic development and growth, and international trade. I am an Associate Professor in the Economics Department at Yale. Cited by. 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. Most demographers expect the global population to decline starting by around 2065. Increases in per-capita income, particularly in the long run. 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, 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". 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. (2006). [8] I think there are so many related interesting and important questions to work on. Michael Peters Economics Department, Yale University Verified email at . ", Halevy, Yoram & Peters, Michael, 2007. To update listings or check citations waiting for approval, Michael Peters should log into the RePEc Author Service. For example, after refugee settlement, the manufacturing sector expanded and stayed higher many years after refugees arrived. A minor in economics is open to students enrolled in any college. We argue this trend has important consequences for creative destruction, product concentration, and firm dynamics. 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. Columbia University. Michael Peters is an Associate Professor of Economics at Yale University and a Faculty Research Fellow at the NBER. However, these gains were heavily skewed toward high-income households living in urban districts. Research. In many developing countries, structural transformation takes the form of a rapid rise of services with limited industrialization. 2 PDF A commitment folk theorem A. Kalai, E. Kalai, E. Lehrer, D. Samet Economics 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. Michael Porter is the author of 20 books and numerous articles including Competitive Strategy, Competitive Advantage, Competitive Advantage of Nations, and On Competition. Speaker(s) Location. Skip to main content He received his undergraduate degree in Economics at the University of Mannheim and his PhD from MIT. 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 ", Peters, Michael & Szentes, Balazs, 2009. ", Peters, Michael & Severinov, Sergei, 1997. 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. 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. Michael Peters is an Associate Professor of Economics at Yale University and a Faculty Research Fellow at the NBER. In this paper, I study a particular historical episode to provide direct evidence for the empirical relevance of such scale effects. Michael Peters Economics, Biology 2014 TLDR This paper provides a set of mechanisms that have the property that every outcome that can be supported as a Bayesian equilibrium in a competing mechanism game can be support as an equilibrium in reciprocal mechanisms. The 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. Refugee settlement led to persistent increases in the local population, the share of people working in manufacturing, and income per capita. 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). Before joining Yale University, he held a position at the London School of Economics. I think we need more work to understand what happens when the population shrinks. All Rights Reserved. Fabrizio Zilibotti. U Akcigit, H Alp, M Peters. By 1950, about 8 million people had been transferred to West Germany, increasing its population by more than 20 percent. 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. Sort by citations Sort by year Sort by title. 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. First, the German economy had just emerged from the Second World War and firm creation might have been particularly mobile across space. Students are exposed to detailed descriptions of 'how to' embark on a new venture in a logical manner. & Severinov,S., 2001. hbbd``b`*@q`$3DY $,> L@)"3` 2 For example, the recent influx of immigrants from Syria to Germany was pre-dominantly directed towards cities. To link different versions of the same work, where versions have a different title, use this form. Michael Peters & Sergei Severinov, 2008. hWR8~}aU)$pnf[=dXdf3 #LZ%HOKqe;sLX"e"a.j0&5uB0tpV p?dc>'53i[C^kq6C_jQylAt;23].8^AQx>nsl?Xge1Wp\g>. See all articles by Michael Peters Michael Peters. 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. 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. There, details are also given on how to add or correct references and citations. " Internet auctions with many traders ," Working papers 11, Wisconsin Madison - Social Systems. Sort. All material on this site has been provided by the respective publishers and authors. Ming Xu. The system can't perform the operation now. ", Peters, Michael & Severinov, Sergei, 2006. 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 & Severinov, Sergei, 2003. 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. His research mostly focuses on macroeconomics, economic development and growth, and international trade. . My research interests are in micro theory, especially the theory of competing mechanisms, and the theory of directed search. . armed forces vacation club for veterans 082 825 4557; welsh keith brymer jones wife zapperstore.xyz@gmail.com . Productive firms thus settle in productive. A departmentalhonors programprovides a small group of outstanding students an opportunity for independent research and close contact with faculty and fellow students. For the case of Germany, firm sorting acts as an amplifier of spatial inequality and accounts for. 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. At the same time, the historical sources were full of anecdotes, which seemed to point at exactly the mechanism I wanted to explore. My results are consistent with this literature, even though my analysis takes a long-run view, which is I think more novel. Create your own unique website with customizable templates. ", Michael Peters & Ralph A. I started working on growth theory during my PhD at MIT. ", Michael Peters & Sergei Severinov, 2001. 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. American Economic Journal . This is in stark contrast to most episodes of voluntary migration, both in the modern era and in the past. ". degree in economics. 2038 MICHAEL PETERS products and markup-reducing product churning through creative destruction shape the equilibrium distribution of markups. You can help correct errors and omissions. We develop a methodology to measure the aggregate effects of input trade that takes such heterogeneity into account. Like Tweet Share. 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 first months where very discouraging because so little data seemed to have survived. The department offers a program of mentoring for students who want to pursue graduate education in economics (CARE). Please note that most corrections can take a couple of weeks to filter through the various RePEc services. Author(s) Michael Peters. Peters,M. 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. How do local economies respond to large increases to the size of their population? To make corrections to the bibliographic information of a particular item, find the technical contact on the abstract page of that item. ", Celik, Gorkem & Peters, Michael, 2008. Michael Peters Economics 1995 This paper explores two models of an economy in which contracts are exchanged. ", Peters, Michael & Severinov, Sergei, 2005. 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 Department, . 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. 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. 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. 0q$D~;4} AF@D m endstream endobj 20 0 obj <> endobj 21 0 obj <> endobj 22 0 obj <>stream In my research I focus primarily on economic growth and long-run economic development. 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. 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. There are two different undergraduate degrees in the College of the Liberal Arts that a student may earn in economics at Penn State. 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. Lack of Selection and Limits to Delegation: Firm Dynamics in Developing Countries . 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. The ensuing expulsion was implemented between 1945 and 1948 and represents one of the largest forced population movements in world history. 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 is an Associate Professor of Economics at Yale University and a Faculty Research Fellow at the NBER. , & Michael Peters [NBER WP #26770] peer-reviewed publications: The Return to Big City Experience [04/22] w/ Mads Hejlesen . Economics Department, Yale University. Department of Economics. Penn State now offers a two-year program designated only for the M.A. For the case of India, service-led growth was an important driver of risingliving standard. I am also a research affiliate at the CEPR and a faculty research fellow at the NBER. 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). Population Growth and Firm-Product Dynamics (with Michael Peters) Population growth has declined markedly in almost all major economies. With leading researchers in economic theory, econometrics, international economics, and macroeconomics, the Economics Department at Penn State is an outstanding department. Michael Peters ; Michael Peters . Michael Peters - Contact Welcome to my website! ", Celik, Gorkem & Peters, Michael, 2011. Department of Economics Yale University 28 Hillhouse Avenue New Haven, CT 06511 Tel: (203) 436-8475 hb```f``} cf`ah`.d0 Their, This "Cited by" count includes citations to the following articles in Scholar. Affiliation: Yale. Macroeconomics Economic Growth Urban Economics. A research summary and interview look at new work on the economic consequences of a large refugee settlement after World War II. 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. For general information on how to correct material on RePEc, see these instructions. Being from Germany myself, one hears lots of stories about the WW2 expulsion. Articles Cited by Co-authors. 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. 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. " An ascending double auction ," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. Start your day off right, with a Dayspring Coffee Understanding better what the likely economic effects of this unprecedented change are going to be seems very important to me. In particular, refugee settlement seemed to have ignited the process of industrialization in agricultural communities. 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. Yale University - Department of Economics; Yale University - Cowles Foundation. Michael Peters Economics Department, Yale University Verified email at yale.edu. 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. ", Peters, Michael & Troncoso-Valverde, Cristian, 2010. At the heart of this analysis are West Germany population censuses for the years 1933, 1939, 1950, and 1961. 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 Yale. 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. The program provides rigorous training in econometrics and quantitative economics as well as in economic theory. 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. ", Epstein, Larry G. & Peters, Michael, 1999. 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. Title. View Michael Peters' profile on LinkedIn, the world's largest professional community. 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. The large inflows led to persistent changes in the sectoral composition of the local economy. Social Menu. Verified email at yale.edu. My aunt, for example, grew up in the Eastern Territories and had to flee on a horse. 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 Note that if the versions have a very similar title and are in the author's profile, the links will usually be created automatically. firm and location productivity arecomplements and labor market frictions are sufficiently large. 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. It is ideal for those who pursue high level professional careers in industry and government, or further study for the Ph.D. degree. 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. Title . In this paper, I study a particular historical episode to provide direct evidence for the empirical relevance of such scale effects. 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 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 link between market size and productivity has always been a central aspect in the field but there was relatively little empirical work. ", Michael Peters & Sergei Severinov, 1995. Footer Menu. Box 21345, New . Together with my colleague Costas Arkolakis and Sun Kyoung Lee at Michigan, we work on a project on the link between migration and economic development in the US between 1880 and 1920 where we try to carefully measure differences in innovation potential between migrants from different countries. At 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. Verified email at columbia.edu - Homepage. Michael Peters from Yale will present Spatial Structural Change. Winter, 1983. 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. His research mostly focuses on macroeconomics, economic development and growth, and international trade. 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. Department of Economics, University of Chicago - Cited by 9,241 - Macroeconomics - Economic Growth - Firm Dynamics - Entrepreneurship - Innovation . Virtual. Macroeconomics Development Economics Growth. ", Sergei Severinov & Michael Peters, 2004. He received his undergraduate degree in Economics at the University of Mannheim and his PhD from MIT. In his research he focuses on economic growth and long-run economic development. Business dynamism - namely job reallocation, firm entry and creative destruction - 20 PDF View 7 excerpts, cites results and methods Finally, the 1950s and 1960s were characterized by a secular increase in the manufacturing sector. The emergence of new cities in Rural America played a big part for this transition. This particular setting is, of course, close to my heart. Finally, most of the literature focusing on the link between density and productivity focuses on the effects of positive population shocks. But even within the US there are vast regional differences in the type of migrants that settle in different areas. target no need to return item. Michael Peters Vancouver School of Economics University of British Columbia 600 Iona Drive Vancouver, Canada V6T 1L4 604-822-4418 peters econ ubc ca. I am an Assistant Professor at the Department of Economics at the University of California, San Diego. Try again later. And they, luckily, had taken pictures of the old census publications, which I could digitize. What are the policy implications, if any, of this research? 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. 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 . "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. 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 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.