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. Michael Porter is the author of 20 books and numerous articles including Competitive Strategy, Competitive Advantage, Competitive Advantage of Nations, and On Competition. Is the rise of services only due to income effects or can growth be service-led? degree in economics. At the heart of this analysis are West Germany population censuses for the years 1933, 1939, 1950, and 1961. 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. Allen Head. Economics Department, Yale University. In his research he focuses on economic growth and long-run economic development. target no need to return item. ", Celik, Gorkem & Peters, Michael, 2008. 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. 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. 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 & Sergei Severinov, 1995. January 2021 CFP 1710 Author(s) Michael Peters. ", Michael Peters & Ralph A. (2006). . With leading researchers in economic theory, econometrics, international economics, and macroeconomics, the Economics Department at Penn State is an outstanding department. 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 make corrections to the bibliographic information of a particular item, find the technical contact on the abstract page of that item. Michael Peters ; Michael Peters . For example, the recent influx of immigrants from Syria to Germany was pre-dominantly directed towards cities. Verified email at yale.edu. Conor Walsh. CAPCP Center for the Study of Auctions, Procurements, and Competition Policy, CRIFES Center for Research on International Financial and Energy Security. 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. At least three aspects of this study seem particularly context specific. . In this paper, I study a particular historical episode to provide direct evidence for the empirical relevance of such scale effects. He received his undergraduate degree in Economics at the University of Mannheim and his PhD from MIT. Ming Xu. Refugee settlement led to persistent increases in the local population, the share of people working in manufacturing, and income per capita. 0q$D~;4} AF@D m endstream endobj 20 0 obj <> endobj 21 0 obj <> endobj 22 0 obj <>stream Title . I am also a research affiliate at the CEPR and a faculty research fellow at the NBER. Affiliation: Yale. armed forces vacation club for veterans 082 825 4557; welsh keith brymer jones wife zapperstore.xyz@gmail.com 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. Yale Department of Economics. ", Peters, Michael & Severinov, Sergei, 1997. The link between market size and productivity has always been a central aspect in the field but there was relatively little empirical work. Fabrizio Zilibotti. Finally, the 1950s and 1960s were characterized by a secular increase in the manufacturing sector. ", Epstein, Larry G. & Peters, Michael, 1999. Michael Peters - Contact Welcome to my website! Michael Peters is an Associate Professor of Economics at Yale University and a Faculty Research Fellow at the NBER. Articles Cited by Co-authors. Try again later. The ensuing expulsion was implemented between 1945 and 1948 and represents one of the largest forced population movements in world history. A research summary and interview look at new work on the economic consequences of a large refugee settlement after World War II. In my research I focus primarily on economic growth and long-run economic development. 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. Michael Peters Economics Department, Yale University Verified email at . In this paper, I study a particular historical episode to provide direct evidence for the empirical relevance of such scale effects. Research. You can help correct errors and omissions. 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 Economics Department, . Penn State now offers a two-year program designated only for the M.A. 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. All Rights Reserved. To what extent these findings have a direct relevance for immigration policy today, is a great question. Speaker(s) Location. ", Celik, Gorkem & Peters, Michael, 2011. In many developing countries, structural transformation takes the form of a rapid rise of services with limited industrialization. Michael Peters from Yale will present Spatial Structural Change. ", Peters, Michael & Szentes, Balazs, 2009. targets the more productive firms can be beneficial in poor countries while being harmful in countries close to the economic frontier. In his research he focuses on economic growth and long-run economic development. Michael Peters Economics 1995 This paper explores two models of an economy in which contracts are exchanged. 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. The department offers a program of mentoring for students who want to pursue graduate education in economics (CARE). Before joining Yale University, he held a position at the London School of Economics. Peters, Michael and Alp Simsek (2009), Solutions Manual for "Introduction to Modern Economic Growth", Princeton University Press. My results are consistent with this literature, even though my analysis takes a long-run view, which is I think more novel. hb```f``} cf`ah`.d0 Department of Economics, University of Chicago - Cited by 9,241 - Macroeconomics - Economic Growth - Firm Dynamics - Entrepreneurship - Innovation . Michael Peters & Sergei Severinov, 2008. 2 PDF A commitment folk theorem A. Kalai, E. Kalai, E. Lehrer, D. Samet Economics endstream endobj startxref 0 %%EOF 43 0 obj <>stream It is ideal for those who pursue high level professional careers in industry and government, or further study for the Ph.D. degree. Title. interests: Trade, Economic Geography, and Macroeconomics contact: . For example, after refugee settlement, the manufacturing sector expanded and stayed higher many years after refugees arrived. I think there are so many related interesting and important questions to work on. I think we need more work to understand what happens when the population shrinks. ", Peters, Michael & Troncoso-Valverde, Cristian, 2010. Most demographers expect the global population to decline starting by around 2065. Population Growth and Firm-Product Dynamics (with Michael Peters) Population growth has declined markedly in almost all major economies. He received his undergraduate degree in Economics at the University of Mannheim and his PhD from MIT. "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. View Michael Peters' profile on LinkedIn, the world's largest professional community. 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). ", Peters, Michael & Severinov, Sergei, 2003. Department of Economics Yale University 28 Hillhouse Avenue New Haven, CT 06511 Tel: (203) 436-8475 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. What are some exciting areas for further research in this area? For the case of India, service-led growth was an important driver of risingliving standard. In particular, refugee settlement seemed to have ignited the process of industrialization in agricultural communities. 2038 MICHAEL PETERS products and markup-reducing product churning through creative destruction shape the equilibrium distribution of markups. & Severinov,S., 2001. [8] 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. 6 October, 2021 4:00 pm-6:00 pm. Second, the refugees were allocated to rural areas and not to urban centers. As far as immigration is concerned, there is still lots to understand in terms of the importance of the type of skills immigrants bring. 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. We develop a methodology to measure the aggregate effects of input trade that takes such heterogeneity into account. 2023 National Bureau of Economic Research. Phone (613) 533-2250 Fax (613) 533-6668 Email https . Macroeconomics Development Economics Growth. The system can't perform the operation now. 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. 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). His research mostly focuses on macroeconomics, economic development and growth, and international trade. 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. 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. American Economic Review. %PDF-1.5 % However, these gains were heavily skewed toward high-income households living in urban districts. Their, This "Cited by" count includes citations to the following articles in Scholar. I would love to see more quantitative work on the consequences of migration that takes such differences into account. 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. 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 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. 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. J Blaum, C Lelarge, M Peters. Virtually all theories of economic growth predict a positive relationship between population size and productivity. hbbd``b`*@q`$3DY $,> L@)"3` 2 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. 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. His research mostly focuses on macroeconomics, economic development and growth, and international trade. What motivated you to take on this research question? 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. Box 21345, New . Michael Peters is an Associate Professor of Economics at Yale University and a Faculty Research Fellow at the NBER. Lack of Selection and Limits to Delegation: Firm Dynamics in Developing Countries . , & Michael Peters [NBER WP #26770] peer-reviewed publications: The Return to Big City Experience [04/22] w/ Mads Hejlesen . To link different versions of the same work, where versions have a different title, use this form. About; Graduate; IDE-MA Program; Undergraduate; Events; Research; Centers; P.O. Cited by. 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". The first months where very discouraging because so little data seemed to have survived. 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. Journal of Urban Economics, Volume 120, July 2022, 103454. 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 Understanding better what the likely economic effects of this unprecedented change are going to be seems very important to me. 37 (2), pages 281-306, November. ", Michael Peters & Sergei Severinov, 2008. Sort by citations Sort by year Sort by title. . What are the policy implications, if any, of this research? Michael Peters is an Associate Professor of Economics at Yale University and a Faculty Research Fellow at the NBER. 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 First, the German economy had just emerged from the Second World War and firm creation might have been particularly mobile across space. By 1950, about 8 million people had been transferred to West Germany, increasing its population by more than 20 percent. ", Peters, Michael & Troncoso-Valverde, Cristin, 2013. 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. 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. 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 emergence of new cities in Rural America played a big part for this transition. The Geography of Remote Work . Yale. Queen's University Dunning Hall, Room 209 94 University Avenue Kingston, Ontario K7L 3N6. Some immigration is low-skilled, some immigration is high-skilled. Michael Peters Economics SSRN Electronic Journal 2021 Virtually all theories of economic growth predict a positive relationship between population size and productivity. 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. Virtual. 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. . 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. This is in stark contrast to most episodes of voluntary migration, both in the modern era and in the past. Macroeconomics Economic Growth Urban Economics. Economics Department, Yale University - Cited by 1,053 - Macroeconomics - Development Economics - Growth . Start your day off right, with a Dayspring Coffee " An ascending double auction ," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. Skip to main content Follow. 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. 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 Yale University - Department of Economics; Yale University - Cowles Foundation. Increases in per-capita income, particularly in the long run. There, details are also given on how to add or correct references and citations. 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.
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