Skip to main content 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. Create your own unique website with customizable templates. 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. My aunt, for example, grew up in the Eastern Territories and had to flee on a horse. 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. Business dynamism - namely job reallocation, firm entry and creative destruction - 20 PDF View 7 excerpts, cites results and methods There are two different undergraduate degrees in the College of the Liberal Arts that a student may earn in economics at Penn State. Speaker(s) Location. 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, 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. His research mostly focuses on macroeconomics, economic development and growth, and international trade. 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. The ensuing expulsion was implemented between 1945 and 1948 and represents one of the largest forced population movements in world history. ", Michael Peters & Sergei Severinov, 2001. You can help correct errors and omissions. I am an Associate Professor in the Economics Department at Yale. At the heart of this analysis are West Germany population censuses for the years 1933, 1939, 1950, and 1961. 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. Department of Economics Yale University 28 Hillhouse Avenue New Haven, CT 06511 Tel: (203) 436-8475 . 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 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 Yale University - Department of Economics; Yale University - Cowles Foundation. . For the case of Germany, firm sorting acts as an amplifier of spatial inequality and accounts for. 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. MICHAEL PETERS AUGUST 2022 Contact Department of Economics Yale University 28 Hillhouse Avenue New Haven, CT 06511 eMail: [email protected] Academic Appointments 2021-2022 Visiting Scholar, New York University Stern School of Business Michael Peters Economics 1995 This paper explores two models of an economy in which contracts are exchanged. See all articles by Michael Peters Michael Peters. 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. Population Growth and Firm-Product Dynamics (with Michael Peters) Population growth has declined markedly in almost all major economies. ", Sergei Severinov & Michael Peters, 2004. 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 It was a real pleasure to talk with Mohamed El-Erian and cover a wide range of topics from economic . Verified email at columbia.edu - Homepage. This is in stark contrast to most episodes of voluntary migration, both in the modern era and in the past. ", Celik, Gorkem & Peters, Michael, 2008. Department of Economics. Michael Peters from Yale will present Spatial Structural Change. 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. Research. 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. The emergence of new cities in Rural America played a big part for this transition. ", Michael Peters & Sergei Severinov, 2008. Macroeconomics Economic Growth Urban Economics. 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? 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. ", Peters, Michael & Szentes, Balazs, 2009. 2 PDF A commitment folk theorem A. Kalai, E. Kalai, E. Lehrer, D. Samet 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. ", Peters, Michael & Severinov, Sergei, 2003. The first months where very discouraging because so little data seemed to have survived. Department of Economics, University of Chicago - Cited by 9,241 - Macroeconomics - Economic Growth - Firm Dynamics - Entrepreneurship - Innovation . 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. 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. Business dynamism - namely job reallocation, firm entry and creative destruction - is declining. " Internet auctions with many traders ," Working papers 11, Wisconsin Madison - Social Systems. For example, after refugee settlement, the manufacturing sector expanded and stayed higher many years after refugees arrived. 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 Being from Germany myself, one hears lots of stories about the WW2 expulsion. Some immigration is low-skilled, some immigration is high-skilled. 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 ", Halevy, Yoram & Peters, Michael, 2007. U Akcigit, H Alp, M Peters. Increases in per-capita income, particularly in the long run. Michael Peters & Sergei Severinov, 2008. Michael Peters Economics Department, Yale University Verified email at yale.edu. The Geography of Remote Work . 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. Professor email [email protected] 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. 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. A departmentalhonors programprovides a small group of outstanding students an opportunity for independent research and close contact with faculty and fellow students. This particular setting is, of course, close to my heart. What were the results? Title. %PDF-1.5 % [8] How do local economies respond to large increases to the size of their population? . Note that if the versions have a very similar title and are in the author's profile, the links will usually be created automatically. At least three aspects of this study seem particularly context specific. Michael Peters | Yale Economic Growth Center Home People Michael Peters Faculty Associate Professor of Economics Contact P. 203-436-8475 E. [email protected] Expertise Development Economics, International Trade, Macroeconomics Website Download C.V. Powered by Create your own unique website with customizable templates. hbbd``b`*@q`$3DY $,> L@)"3` 2 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. 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". ", Celik, Gorkem & Peters, Michael, 2011. 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 Virtual. endstream endobj startxref 0 %%EOF 43 0 obj <>stream Journal of Urban Economics, Volume 120, July 2022, 103454. In this paper, I study a particular historical episode to provide direct evidence for the empirical relevance of such scale effects. " An ascending double auction ," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. To update listings or check citations waiting for approval, Michael Peters should log into the RePEc Author Service. Yale Department of Economics. Virtually all theories of economic growth predict a positive relationship between population size and productivity. 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 & Severinov, Sergei, 2005. Understanding better what the likely economic effects of this unprecedented change are going to be seems very important to me. Cited by. 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. 6 October, 2021 4:00 pm-6:00 pm. My research interests are in micro theory, especially the theory of competing mechanisms, and the theory of directed search. By 1950, about 8 million people had been transferred to West Germany, increasing its population by more than 20 percent. American Economic Review 111 (1), 231-75, 2021. 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 . 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. For example, the recent influx of immigrants from Syria to Germany was pre-dominantly directed towards cities. Michael Peters. What are the policy implications, if any, of this research? ", Michael Peters & Sergei Severinov, 1995. This inflow increased the German population by almost 20%. target no need to return item. degree in economics. Finally, the 1950s and 1960s were characterized by a secular increase in the manufacturing sector. 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. 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. I am an Assistant Professor at the Department of Economics at the University of California, San Diego. 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). Start your day off right, with a Dayspring Coffee A research summary and interview look at new work on the economic consequences of a large refugee settlement after World War II. Michael Porter is the author of 20 books and numerous articles including Competitive Strategy, Competitive Advantage, Competitive Advantage of Nations, and On Competition. 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. To make corrections to the bibliographic information of a particular item, find the technical contact on the abstract page of that item. Economics Department, Yale University - Cited by 1,053 - Macroeconomics - Development Economics - Growth . Michael Peters is an Associate Professor of Economics at Yale University and a Faculty Research Fellow at the NBER. CAPCP Center for the Study of Auctions, Procurements, and Competition Policy, CRIFES Center for Research on International Financial and Energy Security. Peters,M. targets the more productive firms can be beneficial in poor countries while being harmful in countries close to the economic frontier. Lack of Selection and Limits to Delegation: Firm Dynamics in Developing Countries .