Follow. targets the more productive firms can be beneficial in poor countries while being harmful in countries close to the economic frontier. . Michael Peters is an Associate Professor of Economics at Yale University and a Faculty Research Fellow at the NBER. . Note that if the versions have a very similar title and are in the author's profile, the links will usually be created automatically. Queen's University Dunning Hall, Room 209 94 University Avenue Kingston, Ontario K7L 3N6. Virtually all theories of economic growth predict a positive relationship between population size and productivity. To what extent these findings have a direct relevance for immigration policy today, is a great question. Increases in per-capita income, particularly in the long run. Some immigration is low-skilled, some immigration is high-skilled. 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. Publications by author | Yale Department of Economics All Rights Reserved. [PDF] Firm Creation and Local Growth | Semantic Scholar ", Michael Peters & Sergei Severinov, 1995. In this paper, I study a particular historical episode to provide direct evidence for the empirical relevance of such scale effects. Winter, 1983. Michael Peters - Vice President Corporate Strategy - LinkedIn Verified email at yale.edu. 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 Research Conor Walsh Michael Peters Economics 1995 This paper explores two models of an economy in which contracts are exchanged. A departmentalhonors programprovides a small group of outstanding students an opportunity for independent research and close contact with faculty and fellow students. ", Peters, Michael & Szentes, Balazs, 2009. Virtual. Is the rise of services only due to income effects or can growth be service-led? 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 Verified email at columbia.edu - Homepage. A bachelor of arts (ECLBA) or a bachelor of science degree (ECLBS) in economics. 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. 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. He received his undergraduate degree in Economics at the University of Mannheim and his PhD from MIT. January 2021 CFP 1710 Author(s) Michael Peters. Michael Peters | Yale Economic Growth Center Most demographers expect the global population to decline starting by around 2065. 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. 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. The findings echo Acemoglu et al. 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. 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. Phone (613) 533-2250 Fax (613) 533-6668 Email https . Michael Peters - Google Scholar fabian eckert Michael Peters Economics SSRN Electronic Journal 2021 Virtually all theories of economic growth predict a positive relationship between population size and productivity. I think we need more work to understand what happens when the population shrinks. Title. A minor in economics is open to students enrolled in any college. These results provide direct evidence on the link between population growth, industrialization, and subsequent income growth. Business dynamism - namely job reallocation, firm entry and creative destruction - is declining. To link different versions of the same work, where versions have a different title, use this form. 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 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 . This particular setting is, of course, close to my heart. 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). Lack of Selection and Limits to Delegation: Firm Dynamics in Developing Countries . ", Celik, Gorkem & Peters, Michael, 2008. Author(s) Michael Peters. Michael Peters | NBER 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 However, these gains were heavily skewed toward high-income households living in urban districts. In this paper, I study a particular historical episode to provide direct evidence for the empirical relevance of such scale effects. 2 PDF A commitment folk theorem A. Kalai, E. Kalai, E. Lehrer, D. Samet Economics For general information on how to correct material on RePEc, see these instructions. At the same time, the historical sources were full of anecdotes, which seemed to point at exactly the mechanism I wanted to explore. Michael Peters Economics Department, Yale University Verified email at yale.edu. Skip to main content 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. ", Peters, Michael & Troncoso-Valverde, Cristian, 2010. What are some exciting areas for further research in this area? 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. interests: Trade, Economic Geography, and Macroeconomics contact: . 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. Yale University - Department of Economics; Yale University - Cowles Foundation. target no need to return item. In particular, refugee settlement seemed to have ignited the process of industrialization in agricultural communities. Michael Peters Economics Department, . 6 October, 2021 4:00 pm-6:00 pm. Michael Peters, Yale - Department of Economics American Economic Journal . 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. ", Peters, Michael & Troncoso-Valverde, Cristin, 2013. Negotiation and Take it or Leave it in Common Agency Journal of Economic Theory July 2003, Volume 111, Issue 1, Pages 88-109. . 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. For example, the recent influx of immigrants from Syria to Germany was pre-dominantly directed towards cities. 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. [8] How do local economies respond to large increases to the size of their population? hWR8~}aU)$pnf[=dXdf3 #LZ%HOKqe;sLX"e"a.j0&5uB0tpV p?dc>'53i[C^kq6C_jQylAt;23].8^AQx>nsl?Xge1Wp\g>. Journal of Urban Economics, Volume 120, July 2022, 103454. 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. Michael Peters | IDEAS/RePEc I would love to see more quantitative work on the consequences of migration that takes such differences into account. 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. 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. My results are consistent with this literature, even though my analysis takes a long-run view, which is I think more novel. 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. . 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. 2023 National Bureau of Economic Research. 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. I am an Assistant Professor at the Department of Economics at the University of California, San Diego. By 1950, about 8 million people had been transferred to West Germany, increasing its population by more than 20 percent. Michael Peters. 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, 1997. 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. Yale Department of Economics. 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". Box 21345, New . 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 . We argue this trend has important consequences for creative destruction, product concentration, and firm dynamics. U Akcigit, H Alp, M Peters. About; Graduate; IDE-MA Program; Undergraduate; Events; Research; Centers; P.O. 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. Macroeconomics Development Economics Growth. Columbia University. 180 * 2021: PDF Heterogeneous Markups, Growth, and Endogenous Misallocation michael peters economics ubc Ming Xu. The link between market size and productivity has always been a central aspect in the field but there was relatively little empirical work. ", Halevy, Yoram & Peters, Michael, 2007. 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 Vancouver School of Economics University of British Columbia 600 Iona Drive Vancouver, Canada V6T 1L4 604-822-4418 peters econ ubc ca. 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. His research mostly focuses on macroeconomics, economic development and growth, and international trade. 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. Social Menu. Solutions Manual - Michael Peters To update listings or check citations waiting for approval, Michael Peters should log into the RePEc Author Service. & Severinov,S., 2001. Michael Peters | VoxDev I think there are so many related interesting and important questions to work on. ", Epstein, Larry G. & Peters, Michael, 1999. 2038 MICHAEL PETERS products and markup-reducing product churning through creative destruction shape the equilibrium distribution of markups. Conor Walsh. First, the German economy had just emerged from the Second World War and firm creation might have been particularly mobile across space. 0q$D~;4} AF@D m endstream endobj 20 0 obj <> endobj 21 0 obj <> endobj 22 0 obj <>stream For example, after refugee settlement, the manufacturing sector expanded and stayed higher many years after refugees arrived. Macroeconomics Economic Growth Urban Economics. Productive firms thus settle in productive. This inflow increased the German population by almost 20%. The large inflows led to persistent changes in the sectoral composition of the local economy. Start your day off right, with a Dayspring Coffee Before joining Yale University, he held a position at the London School of 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? Finally, most of the literature focusing on the link between density and productivity focuses on the effects of positive population shocks. Fabian Eckert - Google Scholar As far as immigration is concerned, there is still lots to understand in terms of the importance of the type of skills immigrants bring. michael peters economics ubc Yale. Penn State now offers a two-year program designated only for the M.A. Michael Porter is the author of 20 books and numerous articles including Competitive Strategy, Competitive Advantage, Competitive Advantage of Nations, and On Competition. And they, luckily, had taken pictures of the old census publications, which I could digitize. Department of Economics, University of Chicago - Cited by 9,241 - Macroeconomics - Economic Growth - Firm Dynamics - Entrepreneurship - Innovation .