In this paper, I study a particular historical episode to provide direct evidence for the empirical relevance of such scale effects. interests: Trade, Economic Geography, and Macroeconomics contact: . 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 - Vancouver School of Economics ", Peters, Michael & Severinov, Sergei, 1997. Department of Economics, University of Chicago - Cited by 9,241 - Macroeconomics - Economic Growth - Firm Dynamics - Entrepreneurship - Innovation . target no need to return item. I started working on growth theory during my PhD at MIT. Michael Peters | Yale Department of Economics New Research by Michael Peters on the Economic Consequences of Refugee Financial Accounting in an Economic Context - Jamie Pratt, Michael F targets the more productive firms can be beneficial in poor countries while being harmful in countries close to the economic frontier. Michael Peters Vancouver School of Economics University of British Columbia 600 Iona Drive Vancouver, Canada V6T 1L4 604-822-4418 peters econ ubc ca. Publications by author | Yale Department of Economics What are the policy implications, if any, of this research? ", Michael Peters & Sergei Severinov, 2008. 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 Michael Peters is an Associate Professor of Economics at Yale University and a Faculty Research Fellow at the NBER. 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 Gains from Input Trade with Heterogeneous Importers " Internet auctions with many traders ," Working papers 11, Wisconsin Madison - Social Systems. Title . About; Graduate; IDE-MA Program; Undergraduate; Events; Research; Centers; P.O. fabian eckert Try again later. 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. (2006). See all articles by Michael Peters Michael Peters. We argue this trend has important consequences for creative destruction, product concentration, and firm dynamics. 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 Geography of Remote Work . There, details are also given on how to add or correct references and citations. I think we need more work to understand what happens when the population shrinks. Ufuk Akcigit - Google Scholar Michael Peters is an Associate Professor of Economics at Yale University and a Faculty Research Fellow at the NBER. Michael Peters Economics SSRN Electronic Journal 2021 Virtually all theories of economic growth predict a positive relationship between population size and productivity. 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. You can help correct errors and omissions. ", Epstein, Larry G. & Peters, Michael, 1999. 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 He received his undergraduate degree in Economics at the University of Mannheim and his PhD from MIT. This is in stark contrast to most episodes of voluntary migration, both in the modern era and in the past. Michael Porter is the author of 20 books and numerous articles including Competitive Strategy, Competitive Advantage, Competitive Advantage of Nations, and On Competition. Fabian Eckert - Google Scholar Michael Peters Economics 1995 This paper explores two models of an economy in which contracts are exchanged. 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. Sort. 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. He received his undergraduate degree in Economics at the University of Mannheim and his PhD from MIT. Business dynamism - namely job reallocation, firm entry and creative destruction - 20 PDF View 7 excerpts, cites results and methods Research. Powered by Create your own unique website with customizable templates. ", Halevy, Yoram & Peters, Michael, 2007. What are some exciting areas for further research in this area? I am also a research affiliate at the CEPR and a faculty research fellow at the NBER. I would love to see more quantitative work on the consequences of migration that takes such differences into account. The program provides rigorous training in econometrics and quantitative economics as well as in economic theory. 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. 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). Verified email at columbia.edu - Homepage. CAPCP Center for the Study of Auctions, Procurements, and Competition Policy, CRIFES Center for Research on International Financial and Energy Security. 0q$D~;4} AF@D m endstream endobj 20 0 obj <> endobj 21 0 obj <> endobj 22 0 obj <>stream My results are consistent with this literature, even though my analysis takes a long-run view, which is I think more novel. This particular setting is, of course, close to my heart. 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. Michael Peters | IDEAS/RePEc 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. A research summary and interview look at new work on the economic consequences of a large refugee settlement after World War II. My aunt, for example, grew up in the Eastern Territories and had to flee on a horse. 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". & Severinov,S., 2001. ", Michael Peters & Sergei Severinov, 1995. Second, the refugees were allocated to rural areas and not to urban centers. A bachelor of arts (ECLBA) or a bachelor of science degree (ECLBS) in economics. Being from Germany myself, one hears lots of stories about the WW2 expulsion. 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 Department of Economics Yale University 28 Hillhouse Avenue New Haven, CT 06511 Tel: (203) 436-8475 Michael Peters - Google Scholar All material on this site has been provided by the respective publishers and authors. Increases in per-capita income, particularly in the long run. 37 (2), pages 281-306, November. The system can't perform the operation now. 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). The link between market size and productivity has always been a central aspect in the field but there was relatively little empirical work. The emergence of new cities in Rural America played a big part for this transition. Finally, the 1950s and 1960s were characterized by a secular increase in the manufacturing sector. A Revelation Principle for Competing Mechanisms Follow. Creative Destruction, Distance to Frontier, and Economic Development by Box 21345, New . U Akcigit, H Alp, M Peters. Title. 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 Economics 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. I think there are so many related interesting and important questions to work on. 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. To what extent these findings have a direct relevance for immigration policy today, is a great question. ", Michael Peters & Sergei Severinov, 2001. Columbia University. Note that if the versions have a very similar title and are in the author's profile, the links will usually be created automatically. ", Peters, Michael & Severinov, Sergei, 2003. Is the rise of services only due to income effects or can growth be service-led? ", Peters, Michael & Troncoso-Valverde, Cristian, 2010. 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. Lack of Selection and Limits to Delegation: Firm Dynamics in Developing Countries . Ming Xu. His research mostly focuses on macroeconomics, economic development and growth, and international trade. Footer Menu. First, the German economy had just emerged from the Second World War and firm creation might have been particularly mobile across space. Entrepreneurship - McGraw Hill Education How do local economies respond to large increases to the size of their population? 2023 National Bureau of Economic Research. hbbd``b`*@q`$3DY $,> L@)"3` 2 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. Michael Peters | Yale Economic Growth Center 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 Phone (613) 533-2250 Fax (613) 533-6668 Email https . Journal of Urban Economics, Volume 120, July 2022, 103454. There are two different undergraduate degrees in the College of the Liberal Arts that a student may earn in economics at Penn State. Research | montoya.econ.ubc.ca The ensuing expulsion was implemented between 1945 and 1948 and represents one of the largest forced population movements in world history. ", Peters, Michael & Szentes, Balazs, 2009. I am an Associate Professor in the Economics Department at Yale. Together with my colleague Costas Arkolakis and Sun Kyoung Lee at Michigan, we work on a project on the link between migration and economic development in the US between 1880 and 1920 where we try to carefully measure differences in innovation potential between migrants from different countries. Like Tweet Share. Queen's University Dunning Hall, Room 209 94 University Avenue Kingston, Ontario K7L 3N6. A departmentalhonors programprovides a small group of outstanding students an opportunity for independent research and close contact with faculty and fellow students. %PDF-1.5 % 2038 MICHAEL PETERS products and markup-reducing product churning through creative destruction shape the equilibrium distribution of markups. But even within the US there are vast regional differences in the type of migrants that settle in different areas. However, these gains were heavily skewed toward high-income households living in urban districts. Allen Head. 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. 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 following articles are merged in Scholar. American Economic Journal . 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. Population Growth and Firm-Product Dynamics (with Michael Peters) Population growth has declined markedly in almost all major economies. I am an Assistant Professor at the Department of Economics at the University of California, San Diego. Market Size and Spatial Growth - Evidence from Germany's Post-War [8] 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. Solutions Manual - Michael Peters Conor Walsh. . 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. michael peters economics ubc [PDF] Declining Dynamism, Increasing Markups and Missing Growth: The 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. . Productive firms thus settle in productive. Financial Accounting, 11th Edition | Wiley 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. Author(s) Michael Peters. Macroeconomics Development Economics Growth. Economics Department, Yale University - Cited by 1,053 - Macroeconomics - Development Economics - Growth . Michael Peters. Most demographers expect the global population to decline starting by around 2065. ", Peters, Michael & Severinov, Sergei, 2006. 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. We develop a methodology to measure the aggregate effects of input trade that takes such heterogeneity into account. Michael Peters - Contact 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. " An ascending double auction ," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 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. 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. 2 PDF A commitment folk theorem A. Kalai, E. Kalai, E. Lehrer, D. Samet Economics At the same time, the historical sources were full of anecdotes, which seemed to point at exactly the mechanism I wanted to explore. 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.