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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. Finally, most of the literature focusing on the link between density and productivity focuses on the effects of positive population shocks. 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. But even within the US there are vast regional differences in the type of migrants that settle in different areas. With leading researchers in economic theory, econometrics, international economics, and macroeconomics, the Economics Department at Penn State is an outstanding department. 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. 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. Economics Department, Yale University. 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. All Rights Reserved. For example, the recent influx of immigrants from Syria to Germany was pre-dominantly directed towards cities. Macroeconomics Economic Growth Urban Economics. ", Peters, Michael & Severinov, Sergei, 1997. 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 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. Their, This "Cited by" count includes citations to the following articles in Scholar. I think we need more work to understand what happens when the population shrinks. Create your own unique website with customizable templates. Title. 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? , & Michael Peters [NBER WP #26770] peer-reviewed publications: The Return to Big City Experience [04/22] w/ Mads Hejlesen . In this paper, I study a particular historical episode to provide direct evidence for the empirical relevance of such scale effects. American Economic Review 111 (1), 231-75, 2021. 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 His research mostly focuses on macroeconomics, economic development and growth, and international trade. This is in stark contrast to most episodes of voluntary migration, both in the modern era and in the past. In my research I focus primarily on economic growth and long-run economic development. The department offers a program of mentoring for students who want to pursue graduate education in economics (CARE). 0q$D~;4} AF@D m endstream endobj 20 0 obj <> endobj 21 0 obj <> endobj 22 0 obj <>stream 2023 National Bureau of Economic Research. 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). Michael Peters Vancouver School of Economics University of British Columbia 600 Iona Drive Vancouver, Canada V6T 1L4 604-822-4418 peters econ ubc ca. Verified email at yale.edu. 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. Yale. Department of Economics, University of Chicago - Cited by 9,241 - Macroeconomics - Economic Growth - Firm Dynamics - Entrepreneurship - Innovation . Note that if the versions have a very similar title and are in the author's profile, the links will usually be created automatically. 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. 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. ", Michael Peters & Sergei Severinov, 2001. 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. & Severinov,S., 2001. His research mostly focuses on macroeconomics, economic development and growth, and international trade. Michael Peters Economics Department, . 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. I am an Assistant Professor at the Department of Economics at the University of California, San Diego. 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. Journal of Urban Economics, Volume 120, July 2022, 103454. . Michael Peters & Sergei Severinov, 2008. ", Michael Peters & Sergei Severinov, 1995. To link different versions of the same work, where versions have a different title, use this form. armed forces vacation club for veterans 082 825 4557; welsh keith brymer jones wife zapperstore.xyz@gmail.com 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 large inflows led to persistent changes in the sectoral composition of the local economy. Like Tweet Share. At the heart of this analysis are West Germany population censuses for the years 1933, 1939, 1950, and 1961. A minor in economics is open to students enrolled in any college. 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 "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. My research interests are in micro theory, especially the theory of competing mechanisms, and the theory of directed search. Please note that most corrections can take a couple of weeks to filter through the various RePEc services. ", Celik, Gorkem & Peters, Michael, 2011. Virtually all theories of economic growth predict a positive relationship between population size and productivity. We develop a methodology to measure the aggregate effects of input trade that takes such heterogeneity into account. Michael Peters is an Associate Professor of Economics at Yale University and a Faculty Research Fellow at the NBER. Most demographers expect the global population to decline starting by around 2065. January 2021 CFP 1710 Author(s) Michael Peters. These results provide direct evidence on the link between population growth, industrialization, and subsequent income growth. 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. Penn State now offers a two-year program designated only for the M.A. To update listings or check citations waiting for approval, Michael Peters should log into the RePEc Author Service. hb```f``} cf`ah`.d0 What are the policy implications, if any, of this research? This inflow increased the German population by almost 20%. American Economic Review. " An ascending double auction ," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. American Economic Journal . Peters,M. Start your day off right, with a Dayspring Coffee %PDF-1.5 % Peters, Michael and Alp Simsek (2009), Solutions Manual for "Introduction to Modern Economic Growth", Princeton University Press. Finally, the 1950s and 1960s were characterized by a secular increase in the manufacturing sector. We argue this trend has important consequences for creative destruction, product concentration, and firm dynamics. Michael Peters Economics 1995 This paper explores two models of an economy in which contracts are exchanged. ", Halevy, Yoram & Peters, Michael, 2007. 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. 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. By 1950, about 8 million people had been transferred to West Germany, increasing its population by more than 20 percent. 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. View Michael Peters' profile on LinkedIn, the world's largest professional community. Powered by Create your own unique website with customizable templates. Department of Economics. Business dynamism - namely job reallocation, firm entry and creative destruction - 20 PDF View 7 excerpts, cites results and methods " Internet auctions with many traders ," Working papers 11, Wisconsin Madison - Social Systems. I started working on growth theory during my PhD at MIT. 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. My aunt, for example, grew up in the Eastern Territories and had to flee on a horse. There are two different undergraduate degrees in the College of the Liberal Arts that a student may earn in economics at Penn State. To make corrections to the bibliographic information of a particular item, find the technical contact on the abstract page of that item. In his research he focuses on economic growth and long-run economic development. Population Growth and Firm-Product Dynamics (with Michael Peters) Population growth has declined markedly in almost all major economies. Cited by. The Geography of Remote Work . Lack of Selection and Limits to Delegation: Firm Dynamics in Developing Countries . All material on this site has been provided by the respective publishers and authors. Increases in per-capita income, particularly in the long run. So, at some point around 2010 I started to explore whether one could compile empirical evidence on this episode. 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. 2038 MICHAEL PETERS products and markup-reducing product churning through creative destruction shape the equilibrium distribution of markups. For the case of Germany, firm sorting acts as an amplifier of spatial inequality and accounts for. 2 PDF A commitment folk theorem A. Kalai, E. Kalai, E. Lehrer, D. Samet Economics The link between market size and productivity has always been a central aspect in the field but there was relatively little empirical work. Michael Peters Economics SSRN Electronic Journal 2021 Virtually all theories of economic growth predict a positive relationship between population size and productivity. I would love to see more quantitative work on the consequences of migration that takes such differences into account. In many developing countries, structural transformation takes the form of a rapid rise of services with limited industrialization. ", Peters, Michael & Szentes, Balazs, 2009. Michael Peters. 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. Comprehensive cases at the end of the text have been hand-picked by the authors to go hand-in-hand . 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 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. 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. . Macroeconomics Development Economics Growth. Queen's University Dunning Hall, Room 209 94 University Avenue Kingston, Ontario K7L 3N6. Footer Menu. 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. ", Peters, Michael & Severinov, Sergei, 2006. His research mostly focuses on macroeconomics, economic development and growth, and international trade. There, details are also given on how to add or correct references and citations. target no need to return item. 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. Speaker(s) Location. Michael Peters Economics Department, Yale University Verified email at . It is ideal for those who pursue high level professional careers in industry and government, or further study for the Ph.D. degree. 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". You can help correct errors and omissions. targets the more productive firms can be beneficial in poor countries while being harmful in countries close to the economic frontier. Title . J Blaum, C Lelarge, M Peters. 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. Is the rise of services only due to income effects or can growth be service-led? For the case of India, service-led growth was an important driver of risingliving standard. 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. 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. As far as immigration is concerned, there is still lots to understand in terms of the importance of the type of skills immigrants bring. CAPCP Center for the Study of Auctions, Procurements, and Competition Policy, CRIFES Center for Research on International Financial and Energy Security. 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. ", Michael Peters & Ralph A. Sort. 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. In his research he focuses on economic growth and long-run economic development. 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 Try again later. Fertility rates in most of the developed world have already declined below 2 and we see the same trends in developing countries. Some immigration is low-skilled, some immigration is high-skilled. A bachelor of arts (ECLBA) or a bachelor of science degree (ECLBS) in economics. hWR8~}aU)$pnf[=dXdf3 #LZ%HOKqe;sLX"e"a.j0&5uB0tpV p?dc>'53i[C^kq6C_jQylAt;23].8^AQx>nsl?Xge1Wp\g>. degree in economics. Ming Xu. 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. 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 Michael Peters - Contact Welcome to my website! Negotiation and Take it or Leave it in Common Agency Journal of Economic Theory July 2003, Volume 111, Issue 1, Pages 88-109. . Phone (613) 533-2250 Fax (613) 533-6668 Email https . Michael Peters ; Michael Peters . See all articles by Michael Peters Michael Peters. 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. Skip to main content Yale Department of Economics. This particular setting is, of course, close to my heart. Department of Economics Yale University 28 Hillhouse Avenue New Haven, CT 06511 Tel: (203) 436-8475 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. hbbd``b`*@q`$3DY $,> L@)"3` 2 Follow. What motivated you to take on this research question? He received his undergraduate degree in Economics at the University of Mannheim and his PhD from MIT. Columbia University. 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. Conor Walsh. Research. In this paper, I study a particular historical episode to provide direct evidence for the empirical relevance of such scale effects. Before joining Yale University, he held a position at the London School of Economics. 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. 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 . What are some exciting areas for further research in this area? ", Peters, Michael & Severinov, Sergei, 2005. 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 He received his undergraduate degree in Economics at the University of Mannheim and his PhD from MIT. ", Peters, Michael & Troncoso-Valverde, Cristian, 2010. Winter, 1983. The program provides rigorous training in econometrics and quantitative economics as well as in economic theory. 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.
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