At the same time, the historical sources were full of anecdotes, which seemed to point at exactly the mechanism I wanted to explore. Social Menu. 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. ", Halevy, Yoram & Peters, Michael, 2007. armed forces vacation club for veterans 082 825 4557; welsh keith brymer jones wife zapperstore.xyz@gmail.com 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. Lack of Selection and Limits to Delegation: Firm Dynamics in Developing Countries . fabian eckert 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. American Economic Journal . 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. We develop a methodology to measure the aggregate effects of input trade that takes such heterogeneity into account. Being from Germany myself, one hears lots of stories about the WW2 expulsion. Please note that most corrections can take a couple of weeks to filter through the various RePEc services. 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 In this paper, I study a particular historical episode to provide direct evidence for the empirical relevance of such scale effects. ", Celik, Gorkem & Peters, Michael, 2011. 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. Department of Economics Yale University 28 Hillhouse Avenue New Haven, CT 06511 Tel: (203) 436-8475 Comprehensive cases at the end of the text have been hand-picked by the authors to go hand-in-hand . ", Peters, Michael & Severinov, Sergei, 2005. Michael Peters | Yale Economic Growth Center 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. ", Sergei Severinov & Michael Peters, 2004. ", Peters, Michael & Severinov, Sergei, 2003. 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. All material on this site has been provided by the respective publishers and authors. Skip to main content Michael Peters Economics 1995 This paper explores two models of an economy in which contracts are exchanged. The program provides rigorous training in econometrics and quantitative economics as well as in economic theory. And they, luckily, had taken pictures of the old census publications, which I could digitize. The following articles are merged in Scholar. My aunt, for example, grew up in the Eastern Territories and had to flee on a horse. Michael Peters is an Associate Professor of Economics at Yale University and a Faculty Research Fellow at the NBER. [PDF] Declining Dynamism, Increasing Markups and Missing Growth: The 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. 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). American Economic Review. 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. %PDF-1.5 % In his research he focuses on economic growth and long-run economic development. 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. 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. CAPCP Center for the Study of Auctions, Procurements, and Competition Policy, CRIFES Center for Research on International Financial and Energy Security. 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. Department of Economics. . Michael Peters | Cowles Foundation for Research in Economics A Revelation Principle for Competing Mechanisms Michael Peters Vancouver School of Economics University of British Columbia 600 Iona Drive Vancouver, Canada V6T 1L4 604-822-4418 peters econ ubc ca. 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. The link between market size and productivity has always been a central aspect in the field but there was relatively little empirical work. ", Peters, Michael & Szentes, Balazs, 2009. So, at some point around 2010 I started to explore whether one could compile empirical evidence on this episode. 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. . 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. Michael Peters Economics SSRN Electronic Journal 2021 Virtually all theories of economic growth predict a positive relationship between population size and productivity. michael peters economics ubc Columbia University. View Michael Peters' profile on LinkedIn, the world's largest professional community. 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. 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. interests: Trade, Economic Geography, and Macroeconomics contact: . 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. At the heart of this analysis are West Germany population censuses for the years 1933, 1939, 1950, and 1961. Research | montoya.econ.ubc.ca 37 (2), pages 281-306, November. Michael Peters Economics Department, . 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 and a Faculty Research Fellow at the NBER. 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? hWR8~}aU)$pnf[=dXdf3 #LZ%HOKqe;sLX"e"a.j0&5uB0tpV p?dc>'53i[C^kq6C_jQylAt;23].8^AQx>nsl?Xge1Wp\g>. There are two different undergraduate degrees in the College of the Liberal Arts that a student may earn in economics at Penn State. Economics Department, Yale University. 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. The findings echo Acemoglu et al. We argue this trend has important consequences for creative destruction, product concentration, and firm dynamics. A research summary and interview look at new work on the economic consequences of a large refugee settlement after World War II. Financial Accounting in an Economic Context - Jamie Pratt, Michael F Business dynamism - namely job reallocation, firm entry and creative destruction - 20 PDF View 7 excerpts, cites results and methods Some immigration is low-skilled, some immigration is high-skilled. Fabrizio Zilibotti - Google Scholar Virtual. I am an Assistant Professor at the Department of Economics at the University of California, San Diego. My research interests are in micro theory, especially the theory of competing mechanisms, and the theory of directed search. Journal of Urban Economics, Volume 120, July 2022, 103454. Box 21345, New . ", Michael Peters & Ralph A. 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 J Blaum, C Lelarge, M Peters. Negotiation and Take it or Leave it in Common Agency Journal of Economic Theory July 2003, Volume 111, Issue 1, Pages 88-109. . Financial Accounting, 11th Edition | Wiley Michael Peters | IDEAS/RePEc 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. Start your day off right, with a Dayspring Coffee A minor in economics is open to students enrolled in any college. ", Peters, Michael & Severinov, Sergei, 2006. For the case of India, service-led growth was an important driver of risingliving standard. Michael Peters, Yale - Department of Economics Peters,M. Fabrizio Zilibotti. However, these gains were heavily skewed toward high-income households living in urban districts. I am an Associate Professor in the Economics Department at Yale. 2023 National Bureau of Economic Research. This particular setting is, of course, close to my heart. 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. He received his undergraduate degree in Economics at the University of Mannheim and his PhD from MIT. It was a real pleasure to talk with Mohamed El-Erian and cover a wide range of topics from economic . He received his undergraduate degree in Economics at the University of Mannheim and his PhD from MIT. 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 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. Michael Peters | Queen's Economics Department Verified email at yale.edu. Finally, most of the literature focusing on the link between density and productivity focuses on the effects of positive population shocks. Like Tweet Share. This inflow increased the German population by almost 20%. The emergence of new cities in Rural America played a big part for this transition. To link different versions of the same work, where versions have a different title, use this form. Speaker(s) Location. Their, This "Cited by" count includes citations to the following articles in Scholar. For general information on how to correct material on RePEc, see these instructions. A bachelor of arts (ECLBA) or a bachelor of science degree (ECLBS) in economics. Virtually all theories of economic growth predict a positive relationship between population size and productivity. 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. (2006). First, the German economy had just emerged from the Second World War and firm creation might have been particularly mobile across space. 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. 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. Yale. ", Celik, Gorkem & Peters, Michael, 2008. ", Peters, Michael & Troncoso-Valverde, Cristian, 2010. All Rights Reserved. You can help correct errors and omissions. About; Graduate; IDE-MA Program; Undergraduate; Events; Research; Centers; P.O. ", Epstein, Larry G. & Peters, Michael, 1999. It is ideal for those who pursue high level professional careers in industry and government, or further study for the Ph.D. degree. 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. The large inflows led to persistent changes in the sectoral composition of the local economy. Sort. Macroeconomics Development Economics Growth. Productive firms thus settle in productive. Market Size and Spatial Growth - Evidence from Germany's Post-War Affiliation: Yale. 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 What were the results? " An ascending double auction ," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. I think there are so many related interesting and important questions to work on. hbbd``b`*@q`$3DY $,> L@)"3` 2 [PDF] Firm Creation and Local Growth | Semantic Scholar Second, the refugees were allocated to rural areas and not to urban centers. Michael Peters | VoxDev Conor Walsh - Google Scholar With leading researchers in economic theory, econometrics, international economics, and macroeconomics, the Economics Department at Penn State is an outstanding department. [PDF] A folk theorem for competing mechanisms | Semantic Scholar