michael peters 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. 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. hWR8~}aU)$pnf[=dXdf3 #LZ%HOKqe;sLX"e"a.j0&5uB0tpV p?dc>'53i[C^kq6C_jQylAt;23].8^AQx>nsl?Xge1Wp\g>. Most demographers expect the global population to decline starting by around 2065. 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. 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. [8] With leading researchers in economic theory, econometrics, international economics, and macroeconomics, the Economics Department at Penn State is an outstanding department. 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. To update listings or check citations waiting for approval, Michael Peters should log into the RePEc Author Service. ", Peters, Michael & Troncoso-Valverde, Cristin, 2013. 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. 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. The Geography of Remote Work . Michael Peters. Second, the refugees were allocated to rural areas and not to urban centers. Winter, 1983. You can help correct errors and omissions. Michael Peters is an Associate Professor of Economics at Yale University and a Faculty Research Fellow at the NBER. It is ideal for those who pursue high level professional careers in industry and government, or further study for the Ph.D. degree. . U Akcigit, H Alp, M Peters. . target no need to return item. 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. Journal of Urban Economics, Volume 120, July 2022, 103454. I am an Assistant Professor at the Department of Economics at the University of California, San Diego. At least three aspects of this study seem particularly context specific. Articles Cited by Co-authors. ", Peters, Michael & Szentes, Balazs, 2009. But even within the US there are vast regional differences in the type of migrants that settle in different areas. , & Michael Peters [NBER WP #26770] peer-reviewed publications: The Return to Big City Experience [04/22] w/ Mads Hejlesen . 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. Research. Finally, most of the literature focusing on the link between density and productivity focuses on the effects of positive population shocks. The large inflows led to persistent changes in the sectoral composition of the local economy. Economics Department, Yale University - Cited by 1,053 - Macroeconomics - Development Economics - Growth . Finally, the 1950s and 1960s were characterized by a secular increase in the manufacturing sector. 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 Department of Economics. J Blaum, C Lelarge, M Peters. In many developing countries, structural transformation takes the form of a rapid rise of services with limited industrialization. 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. Michael Peters Economics SSRN Electronic Journal 2021 Virtually all theories of economic growth predict a positive relationship between population size and productivity. January 2021 CFP 1710 Author(s) Michael Peters. Author(s) Michael Peters. I am also a research affiliate at the CEPR and a faculty research fellow at the NBER. 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. 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 For example, the US Military Government in Bavaria, published an internal report which explicitly discussed how the arrival of the refugees in rural Bavaria presented opportunities for firms to move to locations near idle workers. Michael Peters 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). This is in stark contrast to most episodes of voluntary migration, both in the modern era and in the past. In particular, refugee settlement seemed to have ignited the process of industrialization in agricultural communities. 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". Sort by citations Sort by year Sort by title. The following articles are merged in Scholar. For example, the recent influx of immigrants from Syria to Germany was pre-dominantly directed towards cities. Population Growth and Firm-Product Dynamics (with Michael Peters) Population growth has declined markedly in almost all major economies. . ", Michael Peters & Ralph A. There, details are also given on how to add or correct references and citations. Being from Germany myself, one hears lots of stories about the WW2 expulsion. Yale Department of Economics. 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. Phone (613) 533-2250 Fax (613) 533-6668 Email https . I started working on growth theory during my PhD at MIT. Economics Department, Yale University. Ming Xu. The emergence of new cities in Rural America played a big part for this transition. The first months where very discouraging because so little data seemed to have survived. ", Michael Peters & Sergei Severinov, 2001. For example, after refugee settlement, the manufacturing sector expanded and stayed higher many years after refugees arrived. In this paper, I study a particular historical episode to provide direct evidence for the empirical relevance of such scale effects. 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. ", Sergei Severinov & Michael Peters, 2004. 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. A minor in economics is open to students enrolled in any college. 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. degree in economics. Title . The findings echo Acemoglu et al. For the case of India, service-led growth was an important driver of risingliving standard. Social Menu. Title. 2038 MICHAEL PETERS products and markup-reducing product churning through creative destruction shape the equilibrium distribution of markups. ", Peters, Michael & Troncoso-Valverde, Cristian, 2010. We develop a methodology to measure the aggregate effects of input trade that takes such heterogeneity into account. firm and location productivity arecomplements and labor market frictions are sufficiently large. American Economic Review. Cited by. endstream endobj startxref 0 %%EOF 43 0 obj <>stream In this paper, I study a particular historical episode to provide direct evidence for the empirical relevance of such scale effects. 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 system can't perform the operation now. Macroeconomics Development Economics Growth. ", Celik, Gorkem & Peters, Michael, 2008. In his research he focuses on economic growth and long-run economic development. American Economic Journal . Affiliation: Yale. By 1950, about 8 million people had been transferred to West Germany, increasing its population by more than 20 percent. We argue this trend has important consequences for creative destruction, product concentration, and firm dynamics. 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. Powered by Create your own unique website with customizable templates. 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. 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. 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 ". 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). I think we need more work to understand what happens when the population shrinks. However, these gains were heavily skewed toward high-income households living in urban districts. His research mostly focuses on macroeconomics, economic development and growth, and international trade. He received his undergraduate degree in Economics at the University of Mannheim and his PhD from MIT. (2006). Like Tweet Share. Michael Peters is an Associate Professor of Economics at Yale University and a Faculty Research Fellow at the NBER. Michael Peters & Sergei Severinov, 2008. In my research I focus primarily on economic growth and long-run economic development. Peters, Michael and Alp Simsek (2009), Solutions Manual for "Introduction to Modern Economic Growth", Princeton University Press. ", Peters, Michael & Severinov, Sergei, 1997. Penn State now offers a two-year program designated only for the M.A. The ensuing expulsion was implemented between 1945 and 1948 and represents one of the largest forced population movements in world history. My results are consistent with this literature, even though my analysis takes a long-run view, which is I think more novel. 2 PDF A commitment folk theorem A. Kalai, E. Kalai, E. Lehrer, D. Samet Economics targets the more productive firms can be beneficial in poor countries while being harmful in countries close to the economic frontier. 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. Lack of Selection and Limits to Delegation: Firm Dynamics in Developing Countries . Michael Peters from Yale will present Spatial Structural Change. Michael Peters Economics Department, . Please note that most corrections can take a couple of weeks to filter through the various RePEc services. ", Celik, Gorkem & Peters, Michael, 2011. 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. How do local economies respond to large increases to the size of their population? 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. interests: Trade, Economic Geography, and Macroeconomics contact: . 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. Footer Menu. Verified email at columbia.edu - Homepage. Speaker(s) Location. Michael Peters Economics Department, Yale University Verified email at yale.edu. 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. CAPCP Center for the Study of Auctions, Procurements, and Competition Policy, CRIFES Center for Research on International Financial and Energy Security. Sort. I think there are so many related interesting and important questions to work on. For general information on how to correct material on RePEc, see these instructions. ", Halevy, Yoram & Peters, Michael, 2007. armed forces vacation club for veterans 082 825 4557; welsh keith brymer jones wife zapperstore.xyz@gmail.com " Internet auctions with many traders ," Working papers 11, Wisconsin Madison - Social Systems. I am an Associate Professor in the Economics Department at Yale. There are two different undergraduate degrees in the College of the Liberal Arts that a student may earn in economics at Penn State. Negotiation and Take it or Leave it in Common Agency Journal of Economic Theory July 2003, Volume 111, Issue 1, Pages 88-109. . & Severinov,S., 2001. hbbd``b`*@q`$3DY $,> L@)"3` 2 Department of Economics Yale University 28 Hillhouse Avenue New Haven, CT 06511 Tel: (203) 436-8475 A departmentalhonors programprovides a small group of outstanding students an opportunity for independent research and close contact with faculty and fellow students. ", Michael Peters & Sergei Severinov, 1995. Michael Peters Economics 1995 This paper explores two models of an economy in which contracts are exchanged. . Macroeconomics Economic Growth Urban Economics. 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. 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. It was a real pleasure to talk with Mohamed El-Erian and cover a wide range of topics from economic . 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. To make corrections to the bibliographic information of a particular item, find the technical contact on the abstract page of that item. Michael Peters is an Associate Professor of Economics at Yale University and a Faculty Research Fellow at the NBER. Follow. The program provides rigorous training in econometrics and quantitative economics as well as in economic theory. I would love to see more quantitative work on the consequences of migration that takes such differences into account. Create your own unique website with customizable templates. ", Peters, Michael & Severinov, Sergei, 2005. Yale. Columbia University. At the heart of this analysis are West Germany population censuses for the years 1933, 1939, 1950, and 1961. Verified email at yale.edu. 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. Fertility rates in most of the developed world have already declined below 2 and we see the same trends in developing countries. 0q$D~;4} AF@D m endstream endobj 20 0 obj <> endobj 21 0 obj <> endobj 22 0 obj <>stream ", Michael Peters & Sergei Severinov, 2008. Peters,M. The department offers a program of mentoring for students who want to pursue graduate education in economics (CARE). First, the German economy had just emerged from the Second World War and firm creation might have been particularly mobile across space. Michael Peters Economics Department, Yale University Verified email at . 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 aunt, for example, grew up in the Eastern Territories and had to flee on a horse. 6 October, 2021 4:00 pm-6:00 pm. 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. 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. Start your day off right, with a Dayspring Coffee He received his undergraduate degree in Economics at the University of Mannheim and his PhD from MIT. About; Graduate; IDE-MA Program; Undergraduate; Events; Research; Centers; P.O. 2023 National Bureau of Economic Research. Entrepreneurship, by Robert Hisrich, Michael Peters and Dean Shepherd has been designed to clearly instruct students on the process of formulating, planning, and implementing a new venture. The 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. Michael Porter is the author of 20 books and numerous articles including Competitive Strategy, Competitive Advantage, Competitive Advantage of Nations, and On Competition. Skip to main content Business dynamism - namely job reallocation, firm entry and creative destruction - 20 PDF View 7 excerpts, cites results and methods 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. 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 . 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michael peters economics