michael peters economics

What are the policy implications, if any, of this research? All material on this site has been provided by the respective publishers and authors. ", Michael Peters & Ralph A. Some immigration is low-skilled, some immigration is high-skilled. 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. 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. 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. ", Peters, Michael & Troncoso-Valverde, Cristian, 2010. 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. Ming Xu. ", Peters, Michael & Severinov, Sergei, 2005. Michael Peters Economics Department, Yale University Verified email at yale.edu. 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. . 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. Most demographers expect the global population to decline starting by around 2065. 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. Fertility rates in most of the developed world have already declined below 2 and we see the same trends in developing countries. Economics Department, Yale University. 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 ", Peters, Michael & Severinov, Sergei, 1997. 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. His research mostly focuses on macroeconomics, economic development and growth, and international trade. 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. 2038 MICHAEL PETERS products and markup-reducing product churning through creative destruction shape the equilibrium distribution of markups. Affiliation: Yale. To what extent these findings have a direct relevance for immigration policy today, is a great question. Department of Economics. Fabrizio Zilibotti. 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. My results are consistent with this literature, even though my analysis takes a long-run view, which is I think more novel. Michael Porter is the author of 20 books and numerous articles including Competitive Strategy, Competitive Advantage, Competitive Advantage of Nations, and On Competition. Michael Peters Economics 1995 This paper explores two models of an economy in which contracts are exchanged. This is in stark contrast to most episodes of voluntary migration, both in the modern era and in the past. At the same time, the historical sources were full of anecdotes, which seemed to point at exactly the mechanism I wanted to explore. 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. Skip to main content Lack of Selection and Limits to Delegation: Firm Dynamics in Developing Countries . In many developing countries, structural transformation takes the form of a rapid rise of services with limited industrialization. Yale Department of Economics. As far as immigration is concerned, there is still lots to understand in terms of the importance of the type of skills immigrants bring. Michael Peters Economics Department, . And they, luckily, had taken pictures of the old census publications, which I could digitize. 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. American Economic Review. First, the German economy had just emerged from the Second World War and firm creation might have been particularly mobile across space. hWR8~}aU)$pnf[=dXdf3 #LZ%HOKqe;sLX"e"a.j0&5uB0tpV p?dc>'53i[C^kq6C_jQylAt;23].8^AQx>nsl?Xge1Wp\g>. Footer Menu. 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 & Sergei Severinov, 2008. ", Michael Peters & Sergei Severinov, 1995. 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 J Blaum, C Lelarge, M Peters. interests: Trade, Economic Geography, and Macroeconomics contact: . This particular setting is, of course, close to my heart. [8] My research interests are in micro theory, especially the theory of competing mechanisms, and the theory of directed search. Michael Peters Economics SSRN Electronic Journal 2021 Virtually all theories of economic growth predict a positive relationship between population size and productivity. 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 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. So, at some point around 2010 I started to explore whether one could compile empirical evidence on this episode. To make corrections to the bibliographic information of a particular item, find the technical contact on the abstract page of that item. Michael Peters - Contact Welcome to my website! Second, the refugees were allocated to rural areas and not to urban centers. A departmentalhonors programprovides a small group of outstanding students an opportunity for independent research and close contact with faculty and fellow students. Conor Walsh. Title . I started working on growth theory during my PhD at MIT. A bachelor of arts (ECLBA) or a bachelor of science degree (ECLBS) in economics. What were the results? ", Peters, Michael & Severinov, Sergei, 2003. 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. Phone (613) 533-2250 Fax (613) 533-6668 Email https . 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 . targets the more productive firms can be beneficial in poor countries while being harmful in countries close to the economic frontier. The department offers a program of mentoring for students who want to pursue graduate education in economics (CARE). We argue this trend has important consequences for creative destruction, product concentration, and firm dynamics. ", Halevy, Yoram & Peters, Michael, 2007. 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. Understanding better what the likely economic effects of this unprecedented change are going to be seems very important to me. endstream endobj startxref 0 %%EOF 43 0 obj <>stream 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. Please note that most corrections can take a couple of weeks to filter through the various RePEc services. 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. Note that if the versions have a very similar title and are in the author's profile, the links will usually be created automatically. 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. 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. 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. 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. What motivated you to take on this research question? It was a real pleasure to talk with Mohamed El-Erian and cover a wide range of topics from economic . The emergence of new cities in Rural America played a big part for this transition. It is ideal for those who pursue high level professional careers in industry and government, or further study for the Ph.D. degree. hbbd``b`*@q`$3DY $,> L@)"3` 2 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. I think there are so many related interesting and important questions to work on. 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. Virtual. He received his undergraduate degree in Economics at the University of Mannheim and his PhD from MIT. Speaker(s) Location. . Verified email at columbia.edu - Homepage. ", Peters, Michael & Troncoso-Valverde, Cristin, 2013. There are two different undergraduate degrees in the College of the Liberal Arts that a student may earn in economics at Penn State. See all articles by Michael Peters Michael Peters. Michael Peters from Yale will present Spatial Structural Change. Refugee settlement led to persistent increases in the local population, the share of people working in manufacturing, and income per capita. 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. How do local economies respond to large increases to the size of their population? In this paper, I study a particular historical episode to provide direct evidence for the empirical relevance of such scale effects. 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. 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. Michael Peters is an Associate Professor of Economics at Yale University and a Faculty Research Fellow at the NBER. Business dynamism - namely job reallocation, firm entry and creative destruction - is declining. Peters,M. ". By 1950, about 8 million people had been transferred to West Germany, increasing its population by more than 20 percent. 2023 National Bureau of Economic Research. 180 * 2021: Verified email at yale.edu. This inflow increased the German population by almost 20%. Economics Department, Yale University - Cited by 1,053 - Macroeconomics - Development Economics - Growth . Follow. Macroeconomics Development Economics Growth. Cited by. You can help correct errors and omissions. 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. 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). My aunt, for example, grew up in the Eastern Territories and had to flee on a horse. . Comprehensive cases at the end of the text have been hand-picked by the authors to go hand-in-hand . The Geography of Remote Work . U Akcigit, H Alp, M Peters. Sort by citations Sort by year Sort by title. A research summary and interview look at new work on the economic consequences of a large refugee settlement after World War II. 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 Winter, 1983. In this paper, I study a particular historical episode to provide direct evidence for the empirical relevance of such scale effects. Create your own unique website with customizable templates. Population Growth and Firm-Product Dynamics (with Michael Peters) Population growth has declined markedly in almost all major economies. (2006). 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. Social Menu. 37 (2), pages 281-306, November. Michael Peters. Try again later. But even within the US there are vast regional differences in the type of migrants that settle in different areas. 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. 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? 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. 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 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 The program provides rigorous training in econometrics and quantitative economics as well as in economic theory. The ensuing expulsion was implemented between 1945 and 1948 and represents one of the largest forced population movements in world history. Articles Cited by Co-authors. Department of Economics Yale University 28 Hillhouse Avenue New Haven, CT 06511 Tel: (203) 436-8475 To update listings or check citations waiting for approval, Michael Peters should log into the RePEc Author Service. 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. In particular, refugee settlement seemed to have ignited the process of industrialization in agricultural communities. %PDF-1.5 % 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. Michael Peters is an Associate Professor of Economics at Yale University and a Faculty Research Fellow at the NBER. The system can't perform the operation now. , & Michael Peters [NBER WP #26770] peer-reviewed publications: The Return to Big City Experience [04/22] w/ Mads Hejlesen . degree in economics. Students are exposed to detailed descriptions of 'how to' embark on a new venture in a logical manner. Allen Head. ", Epstein, Larry G. & Peters, Michael, 1999. hb```f``} cf`ah`.d0 Research. 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. The large inflows led to persistent changes in the sectoral composition of the local economy. Sort. 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. Title. 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. American Economic Review 111 (1), 231-75, 2021. 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.

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