My aunt, for example, grew up in the Eastern Territories and had to flee on a horse. He received his undergraduate degree in Economics at the University of Mannheim and his PhD from MIT. In his research he focuses on economic growth and long-run economic development. Productive firms thus settle in productive. However, these gains were heavily skewed toward high-income households living in urban districts. 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. 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. Virtually all theories of economic growth predict a positive relationship between population size and productivity. Yale University - Department of Economics; Yale University - Cowles Foundation. 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. 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. 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. To make corrections to the bibliographic information of a particular item, find the technical contact on the abstract page of that item. Before joining Yale University, he held a position at the London School of Economics. 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. " Internet auctions with many traders ," Working papers 11, Wisconsin Madison - Social Systems. American Economic Journal . Lack of Selection and Limits to Delegation: Firm Dynamics in Developing Countries . & Severinov,S., 2001. There are two different undergraduate degrees in the College of the Liberal Arts that a student may earn in economics at Penn State. J Blaum, C Lelarge, M Peters. The department offers a program of mentoring for students who want to pursue graduate education in economics (CARE). Business dynamism - namely job reallocation, firm entry and creative destruction - is declining. American Economic Review. 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 target no need to return item. Sort. These results provide direct evidence on the link between population growth, industrialization, and subsequent income growth. His research mostly focuses on macroeconomics, economic development and growth, and international trade. This particular setting is, of course, close to my heart. 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 ", Peters, Michael & Severinov, Sergei, 2006. 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. , & Michael Peters [NBER WP #26770] peer-reviewed publications: The Return to Big City Experience [04/22] w/ Mads Hejlesen . His research mostly focuses on macroeconomics, economic development and growth, and international trade. And they, luckily, had taken pictures of the old census publications, which I could digitize. First, the German economy had just emerged from the Second World War and firm creation might have been particularly mobile across space. Author(s) Michael Peters. Peters,M. Michael Peters is an Associate Professor of Economics at Yale University and a Faculty Research Fellow at the NBER. 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. 180 * 2021: Journal of Urban Economics, Volume 120, July 2022, 103454. For general information on how to correct material on RePEc, see these instructions. Most demographers expect the global population to decline starting by around 2065. By 1950, about 8 million people had been transferred to West Germany, increasing its population by more than 20 percent. 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. armed forces vacation club for veterans 082 825 4557; welsh keith brymer jones wife zapperstore.xyz@gmail.com Increases in per-capita income, particularly in the long run. It is ideal for those who pursue high level professional careers in industry and government, or further study for the Ph.D. degree. The following articles are merged in Scholar. This inflow increased the German population by almost 20%. I started working on growth theory during my PhD at 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. 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. Finally, the 1950s and 1960s were characterized by a secular increase in the manufacturing sector. %PDF-1.5 % 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. I would love to see more quantitative work on the consequences of migration that takes such differences into account. Michael Peters Economics SSRN Electronic Journal 2021 Virtually all theories of economic growth predict a positive relationship between population size and productivity. For example, after refugee settlement, the manufacturing sector expanded and stayed higher many years after refugees arrived. 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. About; Graduate; IDE-MA Program; Undergraduate; Events; Research; Centers; P.O. In this paper, I study a particular historical episode to provide direct evidence for the empirical relevance of such scale effects. Department of Economics. For the case of Germany, firm sorting acts as an amplifier of spatial inequality and accounts for. All Rights Reserved. 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. 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. Macroeconomics Economic Growth Urban Economics. Verified email at yale.edu. 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. 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. A bachelor of arts (ECLBA) or a bachelor of science degree (ECLBS) in economics. At least three aspects of this study seem particularly context specific. ", Peters, Michael & Severinov, Sergei, 2003. 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). Ming Xu. Affiliation: Yale. 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". 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 . 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. ". 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. It was a real pleasure to talk with Mohamed El-Erian and cover a wide range of topics from economic . What are the policy implications, if any, of this research? So, at some point around 2010 I started to explore whether one could compile empirical evidence on this episode. 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. Michael Peters Economics Department, Yale University Verified email at . . With leading researchers in economic theory, econometrics, international economics, and macroeconomics, the Economics Department at Penn State is an outstanding department. 0q$D~;4} AF@D m endstream endobj 20 0 obj <> endobj 21 0 obj <> endobj 22 0 obj <>stream Skip to main content I am also a research affiliate at the CEPR and a faculty research fellow at the NBER. The first months where very discouraging because so little data seemed to have survived. 37 (2), pages 281-306, November. ", Celik, Gorkem & Peters, Michael, 2011. U Akcigit, H Alp, M Peters. In his research he focuses on economic growth and long-run economic development. 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 Peters - Contact Welcome to my website! Speaker(s) Location. 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. Fertility rates in most of the developed world have already declined below 2 and we see the same trends in developing countries. 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. What motivated you to take on this research question? Economics Department, Yale University. Refugee settlement led to persistent increases in the local population, the share of people working in manufacturing, and income per capita. Michael Peters Economics Department, Yale University Verified email at yale.edu. 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. Research. 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. . 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. Box 21345, New . Allen Head. For the case of India, service-led growth was an important driver of risingliving standard. Their, This "Cited by" count includes citations to the following articles in Scholar. Department of Economics, University of Chicago - Cited by 9,241 - Macroeconomics - Economic Growth - Firm Dynamics - Entrepreneurship - Innovation . CAPCP Center for the Study of Auctions, Procurements, and Competition Policy, CRIFES Center for Research on International Financial and Energy Security. Understanding better what the likely economic effects of this unprecedented change are going to be seems very important to me. In many developing countries, structural transformation takes the form of a rapid rise of services with limited industrialization. To what extent these findings have a direct relevance for immigration policy today, is a great question. I am an Associate Professor in the Economics Department at Yale.