Finally, the 1950s and 1960s were characterized by a secular increase in the manufacturing sector. 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 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. Speaker(s) Location. U Akcigit, H Alp, M Peters. View Michael Peters' profile on LinkedIn, the world's largest professional community. 2023 National Bureau of Economic Research. ", Peters, Michael & Severinov, Sergei, 2005. All material on this site has been provided by the respective publishers and authors. target no need to return item. You can help correct errors and omissions. hWR8~}aU)$pnf[=dXdf3 #LZ%HOKqe;sLX"e"a.j0&5uB0tpV p?dc>'53i[C^kq6C_jQylAt;23].8^AQx>nsl?Xge1Wp\g>. ", Epstein, Larry G. & Peters, Michael, 1999. 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). Social Menu. 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. Ming Xu. Virtual. Business dynamism - namely job reallocation, firm entry and creative destruction - is declining. CAPCP Center for the Study of Auctions, Procurements, and Competition Policy, CRIFES Center for Research on International Financial and Energy Security. 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. 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? Lack of Selection and Limits to Delegation: Firm Dynamics in Developing Countries . Michael Peters. ", Peters, Michael & Severinov, Sergei, 1997. endstream endobj startxref 0 %%EOF 43 0 obj <>stream 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. 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. Follow. " An ascending double auction ," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. Yale Department of Economics. Understanding better what the likely economic effects of this unprecedented change are going to be seems very important to me. In his research he focuses on economic growth and long-run economic development. Yale. In this paper, I study a particular historical episode to provide direct evidence for the empirical relevance of such scale effects. Economics Department, Yale University - Cited by 1,053 - Macroeconomics - Development Economics - Growth . Yale University - Department of Economics; Yale University - Cowles Foundation. 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. Michael Peters Economics SSRN Electronic Journal 2021 Virtually all theories of economic growth predict a positive relationship between population size and productivity. 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 . 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 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. 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. Powered by Create your own unique website with customizable templates. The following articles are merged in Scholar. Sort by citations Sort by year Sort by title. I am an Associate Professor in the Economics Department at Yale. Michael Peters is an Associate Professor of Economics at Yale University and a Faculty Research Fellow at the NBER. Macroeconomics Development Economics Growth. 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 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. Is the rise of services only due to income effects or can growth be service-led? Department of Economics. Note that if the versions have a very similar title and are in the author's profile, the links will usually be created automatically. Virtually all theories of economic growth predict a positive relationship between population size and productivity. ", Peters, Michael & Severinov, Sergei, 2006. Michael Peters is an Associate Professor of Economics at Yale University and a Faculty Research Fellow at the NBER. I am an Assistant Professor at the Department of Economics at the University of California, San Diego. A research summary and interview look at new work on the economic consequences of a large refugee settlement after World War II. . Journal of Urban Economics, Volume 120, July 2022, 103454. Michael Porter is the author of 20 books and numerous articles including Competitive Strategy, Competitive Advantage, Competitive Advantage of Nations, and On Competition. Title . Try again later. However, these gains were heavily skewed toward high-income households living in urban districts. For example, after refugee settlement, the manufacturing sector expanded and stayed higher many years after refugees arrived. To what extent these findings have a direct relevance for immigration policy today, is a great question. Being from Germany myself, one hears lots of stories about the WW2 expulsion. There, details are also given on how to add or correct references and citations. We develop a methodology to measure the aggregate effects of input trade that takes such heterogeneity into account. Phone (613) 533-2250 Fax (613) 533-6668 Email https . For example, the recent influx of immigrants from Syria to Germany was pre-dominantly directed towards cities. Michael Peters Economics Department, Yale University Verified email at . Finally, most of the literature focusing on the link between density and productivity focuses on the effects of positive population shocks. Sort. Productive firms thus settle in productive. [8] What are the policy implications, if any, of this research? My research interests are in micro theory, especially the theory of competing mechanisms, and the theory of directed search. 37 (2), pages 281-306, November. Their, This "Cited by" count includes citations to the following articles in Scholar. For the case of Germany, firm sorting acts as an amplifier of spatial inequality and accounts for. 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 Macroeconomics Economic Growth Urban Economics. The ensuing expulsion was implemented between 1945 and 1948 and represents one of the largest forced population movements in world history. Allen Head. All Rights Reserved. What were the results? The large inflows led to persistent changes in the sectoral composition of the local economy. firm and location productivity arecomplements and labor market frictions are sufficiently large. At least three aspects of this study seem particularly context specific. ", Peters, Michael & Troncoso-Valverde, Cristin, 2013. 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. 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. American Economic Review. 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. A bachelor of arts (ECLBA) or a bachelor of science degree (ECLBS) in economics. In my research I focus primarily on economic growth and long-run economic development. ", Celik, Gorkem & Peters, Michael, 2011. interests: Trade, Economic Geography, and Macroeconomics contact: . 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. Start your day off right, with a Dayspring Coffee 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. This particular setting is, of course, close to my heart. ", Michael Peters & Ralph A. Department of Economics, University of Chicago - Cited by 9,241 - Macroeconomics - Economic Growth - Firm Dynamics - Entrepreneurship - Innovation . 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. So, at some point around 2010 I started to explore whether one could compile empirical evidence on this episode. 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. Negotiation and Take it or Leave it in Common Agency Journal of Economic Theory July 2003, Volume 111, Issue 1, Pages 88-109. . My results are consistent with this literature, even though my analysis takes a long-run view, which is I think more novel. 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. 0q$D~;4} AF@D m endstream endobj 20 0 obj <> endobj 21 0 obj <> endobj 22 0 obj <>stream J. Blaum, Claire Lelarge, Michael Peters Published 1 December 2016 Economics ERN: Microeconometric Models of Firm Behavior in Open Economies (Topic) Firms differ substantially in their participation in foreign input markets. Michael Peters, 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". Penn State now offers a two-year program designated only for the M.A. 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. The Geography of Remote Work . 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. 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 Box 21345, New . Michael Peters Economics Department, Yale University Verified email at yale.edu. " Internet auctions with many traders ," Working papers 11, Wisconsin Madison - Social Systems. Refugee settlement led to persistent increases in the local population, the share of people working in manufacturing, and income per capita. His research mostly focuses on macroeconomics, economic development and growth, and international trade. What are some exciting areas for further research in this area? Verified email at yale.edu. Queen's University Dunning Hall, Room 209 94 University Avenue Kingston, Ontario K7L 3N6. The findings echo Acemoglu et al. 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. He received his undergraduate degree in Economics at the University of Mannheim and his PhD from MIT. I think we need more work to understand what happens when the population shrinks. With leading researchers in economic theory, econometrics, international economics, and macroeconomics, the Economics Department at Penn State is an outstanding department. Author(s) Michael Peters. 6 October, 2021 4:00 pm-6:00 pm. 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. By 1950, about 8 million people had been transferred to West Germany, increasing its population by more than 20 percent. Michael Peters Economics 1995 This paper explores two models of an economy in which contracts are exchanged. In particular, refugee settlement seemed to have ignited the process of industrialization in agricultural communities. 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). American Economic Journal . To update listings or check citations waiting for approval, Michael Peters should log into the RePEc Author Service. 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. 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. Michael Peters from Yale will present Spatial Structural Change. It was a real pleasure to talk with Mohamed El-Erian and cover a wide range of topics from economic . & Severinov,S., 2001. . Cited by. His research mostly focuses on macroeconomics, economic development and growth, and international trade. I think there are so many related interesting and important questions to work on. Michael Peters & Sergei Severinov, 2008. Peters,M. Please note that most corrections can take a couple of weeks to filter through the various RePEc services. He received his undergraduate degree in Economics at the University of Mannheim and his PhD from MIT. By building a solid foundation in the mechanics of preparing and analyzing financial statements, performance measurement (Return on Equity), and decision-making with the help of data analytics, Financial Accounting, 11th Edition helps students better prepare to be effective and successful business professionals. The 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. Create your own unique website with customizable templates. Before joining Yale University, he held a position at the London School of Economics. 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. hb```f``} cf`ah`.d0 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. 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. As far as immigration is concerned, there is still lots to understand in terms of the importance of the type of skills immigrants bring. 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. 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. Footer Menu. targets the more productive firms can be beneficial in poor countries while being harmful in countries close to the economic frontier. 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. Students are exposed to detailed descriptions of 'how to' embark on a new venture in a logical manner. What motivated you to take on this research question? American Economic Review 111 (1), 231-75, 2021. . 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. 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 received his undergraduate degree in Economics at the University of Mannheim and his PhD from MIT. First, the German economy had just emerged from the Second World War and firm creation might have been particularly mobile across space. 2 PDF A commitment folk theorem A. Kalai, E. Kalai, E. Lehrer, D. Samet Economics ", Michael Peters & Sergei Severinov, 2001. J Blaum, C Lelarge, M Peters. ". Economics Department, Yale University. 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. Fertility rates in most of the developed world have already declined below 2 and we see the same trends in developing countries. . ", Michael Peters & Sergei Severinov, 1995. ", Peters, Michael & Troncoso-Valverde, Cristian, 2010.

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