So, at some point around 2010 I started to explore whether one could compile empirical evidence on this episode. Department of Economics. I started working on growth theory during my PhD at MIT. 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. You can help correct errors and omissions. 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 View Michael Peters' profile on LinkedIn, the world's largest professional community. Department of Economics Yale University 28 Hillhouse Avenue New Haven, CT 06511 Tel: (203) 436-8475 Michael Porter is the author of 20 books and numerous articles including Competitive Strategy, Competitive Advantage, Competitive Advantage of Nations, and On Competition. My results are consistent with this literature, even though my analysis takes a long-run view, which is I think more novel. Articles Cited by Co-authors. 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. Michael Peters Economics Department, . I am also a research affiliate at the CEPR and a faculty research fellow at the NBER. Start your day off right, with a Dayspring Coffee For general information on how to correct material on RePEc, see these instructions. Michael Peters - Contact Welcome to my website! Peters, Michael and Alp Simsek (2009), Solutions Manual for "Introduction to Modern Economic Growth", Princeton University Press. ", Michael Peters & Sergei Severinov, 2008. A bachelor of arts (ECLBA) or a bachelor of science degree (ECLBS) in economics. 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. J Blaum, C Lelarge, M Peters. ", Peters, Michael & Severinov, Sergei, 1997. Comprehensive cases at the end of the text have been hand-picked by the authors to go hand-in-hand . " An ascending double auction ," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 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 . ", Celik, Gorkem & Peters, Michael, 2011. 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. 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. 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. For example, after refugee settlement, the manufacturing sector expanded and stayed higher many years after refugees arrived. Cited by. Most demographers expect the global population to decline starting by around 2065. See all articles by Michael Peters Michael Peters. Author(s) Michael Peters. There are two different undergraduate degrees in the College of the Liberal Arts that a student may earn in economics at Penn State. Yale. In this paper, I study a particular historical episode to provide direct evidence for the empirical relevance of such scale effects. 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 Social Menu. 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. Virtual. He received his undergraduate degree in Economics at the University of Mannheim and his PhD from MIT. 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. . Michael Peters is an Associate Professor of Economics at Yale University and a Faculty Research Fellow at the NBER. Michael Peters ; Michael Peters . 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. degree in economics. 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. 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. Try again later. What are the policy implications, if any, of this research? 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. 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. Speaker(s) Location. We develop a methodology to measure the aggregate effects of input trade that takes such heterogeneity into account. [8] 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". ", Halevy, Yoram & Peters, Michael, 2007. (2006). "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. January 2021 CFP 1710 Author(s) Michael Peters. U Akcigit, H Alp, M Peters. 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. Michael Peters Economics SSRN Electronic Journal 2021 Virtually all theories of economic growth predict a positive relationship between population size and productivity. The large inflows led to persistent changes in the sectoral composition of the local economy. 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. It is ideal for those who pursue high level professional careers in industry and government, or further study for the Ph.D. degree. ", Michael Peters & Sergei Severinov, 1995. target no need to return item. 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. We argue this trend has important consequences for creative destruction, product concentration, and firm dynamics. This is in stark contrast to most episodes of voluntary migration, both in the modern era and in the past. Increases in per-capita income, particularly in the long run. hb```f``} cf`ah`.d0 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. Department of Economics, University of Chicago - Cited by 9,241 - Macroeconomics - Economic Growth - Firm Dynamics - Entrepreneurship - Innovation . firm and location productivity arecomplements and labor market frictions are sufficiently large. " Internet auctions with many traders ," Working papers 11, Wisconsin Madison - Social Systems. The emergence of new cities in Rural America played a big part for this transition. 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. 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. Understanding better what the likely economic effects of this unprecedented change are going to be seems very important to me. What motivated you to take on this research question? ", Peters, Michael & Severinov, Sergei, 2006. Michael Peters is an Associate Professor of Economics at Yale University and a Faculty Research Fellow at the NBER. ", Peters, Michael & Troncoso-Valverde, Cristian, 2010. 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). Negotiation and Take it or Leave it in Common Agency Journal of Economic Theory July 2003, Volume 111, Issue 1, Pages 88-109. . ", Sergei Severinov & Michael Peters, 2004. 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. Macroeconomics Development Economics Growth. hbbd``b`*@q`$3DY $,> L@)"3` 2 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. Create your own unique website with customizable templates. interests: Trade, Economic Geography, and Macroeconomics contact: . About; Graduate; IDE-MA Program; Undergraduate; Events; Research; Centers; P.O. Please note that most corrections can take a couple of weeks to filter through the various RePEc services. In this paper, I study a particular historical episode to provide direct evidence for the empirical relevance of such scale effects. The system can't perform the operation now. This inflow increased the German population by almost 20%. To make corrections to the bibliographic information of a particular item, find the technical contact on the abstract page of that item. 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. Winter, 1983. It was a real pleasure to talk with Mohamed El-Erian and cover a wide range of topics from economic . Verified email at yale.edu. Michael Peters Economics 1995 This paper explores two models of an economy in which contracts are exchanged. Michael Peters Economics Department, Yale University Verified email at . Being from Germany myself, one hears lots of stories about the WW2 expulsion. Verified email at columbia.edu - Homepage. 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. These results provide direct evidence on the link between population growth, industrialization, and subsequent income growth. Journal of Urban Economics, Volume 120, July 2022, 103454. All Rights Reserved. 2038 MICHAEL PETERS products and markup-reducing product churning through creative destruction shape the equilibrium distribution of markups. 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? armed forces vacation club for veterans 082 825 4557; welsh keith brymer jones wife zapperstore.xyz@gmail.com Follow. Peters,M. At least three aspects of this study seem particularly context specific. Michael Peters is an Associate Professor of Economics at Yale University and a Faculty Research Fellow at the NBER. American Economic Review. 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. At the heart of this analysis are West Germany population censuses for the years 1933, 1939, 1950, and 1961. Allen Head. ", Michael Peters & Ralph A. 37 (2), pages 281-306, November. There, details are also given on how to add or correct references and citations. By 1950, about 8 million people had been transferred to West Germany, increasing its population by more than 20 percent. ", Celik, Gorkem & Peters, Michael, 2008. 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). Box 21345, New . The findings echo Acemoglu et al. American Economic Journal . targets the more productive firms can be beneficial in poor countries while being harmful in countries close to the economic frontier. ". In particular, refugee settlement seemed to have ignited the process of industrialization in agricultural communities. 6 October, 2021 4:00 pm-6:00 pm. Virtually all theories of economic growth predict a positive relationship between population size and productivity. 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. I am an Associate Professor in the Economics Department at Yale. Finally, the 1950s and 1960s were characterized by a secular increase in the manufacturing sector. Refugee settlement led to persistent increases in the local population, the share of people working in manufacturing, and income per capita. 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. 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. CAPCP Center for the Study of Auctions, Procurements, and Competition Policy, CRIFES Center for Research on International Financial and Energy Security. 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. In my research I focus primarily on economic growth and long-run economic development. Penn State now offers a two-year program designated only for the M.A. 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 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.

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