michael peters economics

We argue this trend has important consequences for creative destruction, product concentration, and firm dynamics. Phone (613) 533-2250 Fax (613) 533-6668 Email https . Michael Peters. My research interests are in micro theory, especially the theory of competing mechanisms, and the theory of directed search. Speaker(s) Location. However, these gains were heavily skewed toward high-income households living in urban districts. By 1950, about 8 million people had been transferred to West Germany, increasing its population by more than 20 percent. . Economics Department, Yale University - Cited by 1,053 - Macroeconomics - Development Economics - Growth . In this paper, I study a particular historical episode to provide direct evidence for the empirical relevance of such scale effects. Professors Peters new paper, published in Econometrica last month, explores a particular historical setting to provide direct evidence for the empirical relevance of these effects. MICHAEL PETERS 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 hbbd``b`*@q`$3DY $,> L@)"3` 2 Virtually all theories of economic growth predict a positive relationship between population size and productivity. Increases in per-capita income, particularly in the long run. ", Peters, Michael & Troncoso-Valverde, Cristin, 2013. The program provides rigorous training in econometrics and quantitative economics as well as in economic theory. . Students are exposed to detailed descriptions of 'how to' embark on a new venture in a logical manner. What are the policy implications, if any, of this research? Michael Peters Economics Department, Yale University Verified email at . Their, This "Cited by" count includes citations to the following articles in Scholar. To make corrections to the bibliographic information of a particular item, find the technical contact on the abstract page of that item. Macroeconomics Development Economics Growth. Economics Department, Yale University. 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). 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. Social Menu. 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 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. Michael Porter is the author of 20 books and numerous articles including Competitive Strategy, Competitive Advantage, Competitive Advantage of Nations, and On Competition. 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. To link different versions of the same work, where versions have a different title, use this form. [8] Public profiles for Economics researchers, Curated articles & papers on economics topics, Upload your paper to be listed on RePEc and IDEAS, Pretend you are at the helm of an economics department, Data, research, apps & more from the St. Louis Fed, Initiative for open bibliographies in Economics, Have your institution's/publisher's output listed on RePEc, Matching by Luck or Search? At least three aspects of this study seem particularly context specific. 37 (2), pages 281-306, November. 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. I think there are so many related interesting and important questions to work on. interests: Trade, Economic Geography, and Macroeconomics contact: . Macroeconomics Economic Growth Urban Economics. Michael Peters Economics Department, Yale University Verified email at yale.edu. 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. 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. (2006). At the heart of this analysis are West Germany population censuses for the years 1933, 1939, 1950, and 1961. Yale University - Department of Economics; Yale University - Cowles Foundation. . A bachelor of arts (ECLBA) or a bachelor of science degree (ECLBS) in economics. For example, the recent influx of immigrants from Syria to Germany was pre-dominantly directed towards cities. We develop a methodology to measure the aggregate effects of input trade that takes such heterogeneity into account. Journal of Urban Economics, Volume 120, July 2022, 103454. The findings echo Acemoglu et al. 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. Productive firms thus settle in productive. Like Tweet Share. 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. He received his undergraduate degree in Economics at the University of Mannheim and his PhD from MIT. endstream endobj startxref 0 %%EOF 43 0 obj <>stream 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. Try again later. All Rights Reserved. His research mostly focuses on macroeconomics, economic development and growth, and international trade. Verified email at yale.edu. This inflow increased the German population by almost 20%. Finally, most of the literature focusing on the link between density and productivity focuses on the effects of positive population shocks. He received his undergraduate degree in Economics at the University of Mannheim and his PhD from MIT. Peters,M. Is the rise of services only due to income effects or can growth be service-led? 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 . Being from Germany myself, one hears lots of stories about the WW2 expulsion. 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. 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. Note that if the versions have a very similar title and are in the author's profile, the links will usually be created automatically. In many developing countries, structural transformation takes the form of a rapid rise of services with limited industrialization. target no need to return item. Finally, the 1950s and 1960s were characterized by a secular increase in the manufacturing sector. Author(s) Michael Peters. 2038 MICHAEL PETERS products and markup-reducing product churning through creative destruction shape the equilibrium distribution of markups. As far as immigration is concerned, there is still lots to understand in terms of the importance of the type of skills immigrants bring. Yale. 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. ", Celik, Gorkem & Peters, Michael, 2011. What were the results? hb```f``} cf`ah`.d0 Peters, Michael and Alp Simsek (2009), Solutions Manual for "Introduction to Modern Economic Growth", Princeton University Press. Some immigration is low-skilled, some immigration is high-skilled. Michael Peters Vancouver School of Economics University of British Columbia 600 Iona Drive Vancouver, Canada V6T 1L4 604-822-4418 peters econ ubc ca. So, at some point around 2010 I started to explore whether one could compile empirical evidence on this episode. View Michael Peters' profile on LinkedIn, the world's largest professional community. Sort. Ming Xu. 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. Lack of Selection and Limits to Delegation: Firm Dynamics in Developing Countries . Create your own unique website with customizable templates. At the same time, the historical sources were full of anecdotes, which seemed to point at exactly the mechanism I wanted to explore. ", Halevy, Yoram & Peters, Michael, 2007. The system can't perform the operation now. See all articles by Michael Peters Michael Peters. 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. American Economic Review 111 (1), 231-75, 2021. targets the more productive firms can be beneficial in poor countries while being harmful in countries close to the economic frontier. ", Peters, Michael & Severinov, Sergei, 2006. In his research he focuses on economic growth and long-run economic development. For example, after refugee settlement, the manufacturing sector expanded and stayed higher many years after refugees arrived. All material on this site has been provided by the respective publishers and authors. A minor in economics is open to students enrolled in any college. My results are consistent with this literature, even though my analysis takes a long-run view, which is I think more novel. 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, The Gains from Input Trade with Heterogeneous Importers, American Economic Journal: Macroeconomics, Heterogeneous Markups, Growth, and Endogenous Misallocation, Cowles Foundation for Research in Economics, Yale Federal Statistical Research Data Center. ", Michael Peters & Sergei Severinov, 2001. His research mostly focuses on macroeconomics, economic development and growth, and international trade. 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. What are some exciting areas for further research in this area? Michael Peters - Contact Welcome to my website! 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". In particular, refugee settlement seemed to have ignited the process of industrialization in agricultural communities. Follow. There are two different undergraduate degrees in the College of the Liberal Arts that a student may earn in economics at Penn State. Department of Economics Yale University 28 Hillhouse Avenue New Haven, CT 06511 Tel: (203) 436-8475 The large inflows led to persistent changes in the sectoral composition of the local economy. 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. "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. I think we need more work to understand what happens when the population shrinks. Conor Walsh. 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. I am an Associate Professor in the Economics Department at Yale. 0q$D~;4} AF@D m endstream endobj 20 0 obj <> endobj 21 0 obj <> endobj 22 0 obj <>stream Virtual. ", Michael Peters & Sergei Severinov, 2008. For the case of India, service-led growth was an important driver of risingliving standard. 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. With leading researchers in economic theory, econometrics, international economics, and macroeconomics, the Economics Department at Penn State is an outstanding department. My aunt, for example, grew up in the Eastern Territories and had to flee on a horse. Population Growth and Firm-Product Dynamics (with Michael Peters) Population growth has declined markedly in almost all major economies. The link between market size and productivity has always been a central aspect in the field but there was relatively little empirical work. 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. ", Epstein, Larry G. & Peters, Michael, 1999. Before joining Yale University, he held a position at the London School of Economics. I would love to see more quantitative work on the consequences of migration that takes such differences into account. , & Michael Peters [NBER WP #26770] peer-reviewed publications: The Return to Big City Experience [04/22] w/ Mads Hejlesen . 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. About; Graduate; IDE-MA Program; Undergraduate; Events; Research; Centers; P.O. Michael Peters Economics SSRN Electronic Journal 2021 Virtually all theories of economic growth predict a positive relationship between population size and productivity. armed forces vacation club for veterans 082 825 4557; welsh keith brymer jones wife zapperstore.xyz@gmail.com These results provide direct evidence on the link between population growth, industrialization, and subsequent income growth. Powered by Create your own unique website with customizable templates. ", Michael Peters & Ralph A. Columbia University. 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. 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. 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. ". First, the German economy had just emerged from the Second World War and firm creation might have been particularly mobile across space. ", Peters, Michael & Severinov, Sergei, 2005. 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. For general information on how to correct material on RePEc, see these instructions. Michael Peters is an Associate Professor of Economics at Yale University and a Faculty Research Fellow at the NBER. For the case of Germany, firm sorting acts as an amplifier of spatial inequality and accounts for. CAPCP Center for the Study of Auctions, Procurements, and Competition Policy, CRIFES Center for Research on International Financial and Energy Security. 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. Penn State now offers a two-year program designated only for the M.A. 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. Winter, 1983. Second, the refugees were allocated to rural areas and not to urban centers. 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. 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. ", Michael Peters & Sergei Severinov, 1995. A departmentalhonors programprovides a small group of outstanding students an opportunity for independent research and close contact with faculty and fellow students. This work allowed him to quantify the effect of the refugee settlement on aggregate income and study how the government policy of sending refugees to the countryside might ignite and maintain rural industrialization. In this paper, I study a particular historical episode to provide direct evidence for the empirical relevance of such scale effects. 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 ", Celik, Gorkem & Peters, Michael, 2008. Refugee settlement led to persistent increases in the local population, the share of people working in manufacturing, and income per capita. 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. ", Peters, Michael & Severinov, Sergei, 1997. Michael Peters Economics 1995 This paper explores two models of an economy in which contracts are exchanged. Articles Cited by Co-authors. The ensuing expulsion was implemented between 1945 and 1948 and represents one of the largest forced population movements in world history. . Allen Head. How do local economies respond to large increases to the size of their population? J Blaum, C Lelarge, M Peters. ", Peters, Michael & Szentes, Balazs, 2009. 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. 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 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. It is ideal for those who pursue high level professional careers in industry and government, or further study for the Ph.D. degree. Please note that most corrections can take a couple of weeks to filter through the various RePEc services. Start your day off right, with a Dayspring Coffee 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 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. Department of Economics, University of Chicago - Cited by 9,241 - Macroeconomics - Economic Growth - Firm Dynamics - Entrepreneurship - Innovation . 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. Michael Peters from Yale will present Spatial Structural Change. ", Peters, Michael & Troncoso-Valverde, Cristian, 2010. 2 PDF A commitment folk theorem A. Kalai, E. Kalai, E. Lehrer, D. Samet Economics " An ascending double auction ," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. Michael Peters Economics Department, . And they, luckily, had taken pictures of the old census publications, which I could digitize. What motivated you to take on this research question? This is in stark contrast to most episodes of voluntary migration, both in the modern era and in the past. There, details are also given on how to add or correct references and citations. firm and location productivity arecomplements and labor market frictions are sufficiently large. 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. 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. Skip to main content In my research I focus primarily on economic growth and long-run economic development. 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). Department of Economics. Footer Menu. It was a real pleasure to talk with Mohamed El-Erian and cover a wide range of topics from economic . Title . Fabrizio Zilibotti. %PDF-1.5 % The emergence of new cities in Rural America played a big part for this transition. 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. 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. 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. Yale Department of Economics. 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. American Economic Review. The Geography of Remote Work . U Akcigit, H Alp, M Peters. 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. Affiliation: Yale. 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. 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. Most demographers expect the global population to decline starting by around 2065. I am an Assistant Professor at the Department of Economics at the University of California, San Diego. " Internet auctions with many traders ," Working papers 11, Wisconsin Madison - Social Systems. You can help correct errors and omissions. Sort by citations Sort by year Sort by title. 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. degree in economics. ", Sergei Severinov & Michael Peters, 2004. Fertility rates in most of the developed world have already declined below 2 and we see the same trends in developing countries. A research summary and interview look at new work on the economic consequences of a large refugee settlement after World War II. Verified email at columbia.edu - Homepage. I started working on growth theory during my PhD at MIT. 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). 180 * 2021: 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. 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. 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. Comprehensive cases at the end of the text have been hand-picked by the authors to go hand-in-hand . 6 October, 2021 4:00 pm-6:00 pm. In his research he focuses on economic growth and long-run economic development. 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. To what extent these findings have a direct relevance for immigration policy today, is a great question.

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