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In this paper, I study a particular historical episode to provide direct evidence for the empirical relevance of such scale effects. 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. It is ideal for those who pursue high level professional careers in industry and government, or further study for the Ph.D. degree. 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 ", Peters, Michael & Troncoso-Valverde, Cristin, 2013. Note that if the versions have a very similar title and are in the author's profile, the links will usually be created automatically. How do local economies respond to large increases to the size of their population? Finally, the 1950s and 1960s were characterized by a secular increase in the manufacturing sector. 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. I am an Associate Professor in the Economics Department at Yale. 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. 37 (2), pages 281-306, November. He received his undergraduate degree in Economics at the University of Mannheim and his PhD from MIT. Most demographers expect the global population to decline starting by around 2065. The program provides rigorous training in econometrics and quantitative economics as well as in economic theory. View Michael Peters' profile on LinkedIn, the world's largest professional community. ", Peters, Michael & Severinov, Sergei, 2005. He received his undergraduate degree in Economics at the University of Mannheim and his PhD from MIT. What are the policy implications, if any, of this research? 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. Macroeconomics Economic Growth Urban Economics. 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. 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. firm and location productivity arecomplements and labor market frictions are sufficiently large. Yale Department of Economics. Footer Menu. Articles Cited by Co-authors. Michael Peters is an Associate Professor of Economics at Yale University and a Faculty Research Fellow at the NBER. Fabrizio Zilibotti. 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, 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. 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. The findings echo Acemoglu et al. American Economic Review 111 (1), 231-75, 2021. 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. Winter, 1983. 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 However, these gains were heavily skewed toward high-income households living in urban districts. American Economic Review. 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 Is the rise of services only due to income effects or can growth be service-led? Michael Peters from Yale will present Spatial Structural Change. 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. Refugee settlement led to persistent increases in the local population, the share of people working in manufacturing, and income per capita. , & Michael Peters [NBER WP #26770] peer-reviewed publications: The Return to Big City Experience [04/22] w/ Mads Hejlesen . Economics Department, Yale University - Cited by 1,053 - Macroeconomics - Development Economics - Growth . target no need to return item. degree in economics. 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. Peters, Michael and Alp Simsek (2009), Solutions Manual for "Introduction to Modern Economic Growth", Princeton University Press. Department of Economics, University of Chicago - Cited by 9,241 - Macroeconomics - Economic Growth - Firm Dynamics - Entrepreneurship - Innovation . . 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. Powered by Create your own unique website with customizable templates. At the heart of this analysis are West Germany population censuses for the years 1933, 1939, 1950, and 1961. At the same time, the historical sources were full of anecdotes, which seemed to point at exactly the mechanism I wanted to explore. 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. Affiliation: Yale. Business dynamism - namely job reallocation, firm entry and creative destruction - 20 PDF View 7 excerpts, cites results and methods 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 Allen Head. Start your day off right, with a Dayspring Coffee Social Menu. See all articles by Michael Peters Michael Peters. There, details are also given on how to add or correct references and citations. The Geography of Remote Work . Economics Department, Yale University. Skip to main content hbbd``b`*@q`$3DY $,> L@)"3` 2 ", Michael Peters & Ralph A. 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. Title. 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 Author(s) Michael Peters. The large inflows led to persistent changes in the sectoral composition of the local economy. 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. ", Peters, Michael & Severinov, Sergei, 1997. But even within the US there are vast regional differences in the type of migrants that settle in different areas. 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. So, at some point around 2010 I started to explore whether one could compile empirical evidence on this episode. Phone (613) 533-2250 Fax (613) 533-6668 Email https . All material on this site has been provided by the respective publishers and authors. Like Tweet Share. In many developing countries, structural transformation takes the form of a rapid rise of services with limited industrialization. I am also a research affiliate at the CEPR and a faculty research fellow at the NBER. Michael Peters Economics Department, Yale University Verified email at yale.edu. The emergence of new cities in Rural America played a big part for this transition. 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. 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. As far as immigration is concerned, there is still lots to understand in terms of the importance of the type of skills immigrants bring. ", Epstein, Larry G. & Peters, Michael, 1999. 0q$D~;4} AF@D m endstream endobj 20 0 obj <> endobj 21 0 obj <> endobj 22 0 obj <>stream The following articles are merged in Scholar. Lack of Selection and Limits to Delegation: Firm Dynamics in Developing Countries . Verified email at yale.edu. To make corrections to the bibliographic information of a particular item, find the technical contact on the abstract page of that item. 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. For example, the recent influx of immigrants from Syria to Germany was pre-dominantly directed towards cities. 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. A minor in economics is open to students enrolled in any college. U Akcigit, H Alp, M Peters. He received his undergraduate degree in Economics at the University of Mannheim and his PhD from MIT. Michael Peters - Contact Welcome to my website! I started working on growth theory during my PhD at MIT. This particular setting is, of course, close to my heart. 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. %PDF-1.5 % Macroeconomics Development Economics Growth. You can help correct errors and omissions. The department offers a program of mentoring for students who want to pursue graduate education in economics (CARE). Title . We argue this trend has important consequences for creative destruction, product concentration, and firm dynamics. ", Michael Peters & Sergei Severinov, 1995. 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. 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. Michael Peters Economics Department, Yale University Verified email at . "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, 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". 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. Box 21345, New . Ming Xu. Sort by citations Sort by year Sort by title. 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. This inflow increased the German population by almost 20%. 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. His research mostly focuses on macroeconomics, economic development and growth, and international trade. 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. Second, the refugees were allocated to rural areas and not to urban centers. Michael Peters is an Associate Professor of Economics at Yale University and a Faculty Research Fellow at the NBER. I think we need more work to understand what happens when the population shrinks. 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. Fertility rates in most of the developed world have already declined below 2 and we see the same trends in developing countries. My aunt, for example, grew up in the Eastern Territories and had to flee on a horse. 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). CAPCP Center for the Study of Auctions, Procurements, and Competition Policy, CRIFES Center for Research on International Financial and Energy Security. To link different versions of the same work, where versions have a different title, use this form. Please note that most corrections can take a couple of weeks to filter through the various RePEc services. 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. Understanding better what the likely economic effects of this unprecedented change are going to be seems very important to me. 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. 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.