2038 MICHAEL PETERS products and markup-reducing product churning through creative destruction shape the equilibrium distribution of markups. 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. 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". As far as immigration is concerned, there is still lots to understand in terms of the importance of the type of skills immigrants bring. There are two different undergraduate degrees in the College of the Liberal Arts that a student may earn in economics at Penn State. However, these gains were heavily skewed toward high-income households living in urban districts. 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. We argue this trend has important consequences for creative destruction, product concentration, and firm dynamics. ", Peters, Michael & Severinov, Sergei, 2003. Follow. 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. Negotiation and Take it or Leave it in Common Agency Journal of Economic Theory July 2003, Volume 111, Issue 1, Pages 88-109. . , & Michael Peters [NBER WP #26770] peer-reviewed publications: The Return to Big City Experience [04/22] w/ Mads Hejlesen . 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. A research summary and interview look at new work on the economic consequences of a large refugee settlement after World War II. Sort by citations Sort by year Sort by title. Before joining Yale University, he held a position at the London School of Economics. Department of Economics, University of Chicago - Cited by 9,241 - Macroeconomics - Economic Growth - Firm Dynamics - Entrepreneurship - Innovation . Michael Peters Economics Department, Yale University Verified email at yale.edu. 37 (2), pages 281-306, November. Like Tweet Share. Powered by Create your own unique website with customizable templates. 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. This is in stark contrast to most episodes of voluntary migration, both in the modern era and in the past. 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. Allen Head. A departmentalhonors programprovides a small group of outstanding students an opportunity for independent research and close contact with faculty and fellow students. ", Peters, Michael & Troncoso-Valverde, Cristian, 2010. 6 October, 2021 4:00 pm-6:00 pm. The system can't perform the operation now. targets the more productive firms can be beneficial in poor countries while being harmful in countries close to the economic frontier. A minor in economics is open to students enrolled in any college. But even within the US there are vast regional differences in the type of migrants that settle in different areas. 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. 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). Box 21345, New . Economics Department, Yale University - Cited by 1,053 - Macroeconomics - Development Economics - Growth . 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 . It was a real pleasure to talk with Mohamed El-Erian and cover a wide range of topics from economic . With leading researchers in economic theory, econometrics, international economics, and macroeconomics, the Economics Department at Penn State is an outstanding department. Michael Peters Vancouver School of Economics University of British Columbia 600 Iona Drive Vancouver, Canada V6T 1L4 604-822-4418 peters econ ubc ca. 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. Verified email at columbia.edu - Homepage. ", Michael Peters & Sergei Severinov, 2008. 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. Virtual. Queen's University Dunning Hall, Room 209 94 University Avenue Kingston, Ontario K7L 3N6. 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. The Geography of Remote Work . " Internet auctions with many traders ," Working papers 11, Wisconsin Madison - Social Systems. Michael Peters | Yale Economic Growth Center Home People Michael Peters Faculty Associate Professor of Economics Contact P. 203-436-8475 E. m.peters@yale.edu Expertise Development Economics, International Trade, Macroeconomics Website Download C.V. Peters,M. "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. 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. I am an Associate Professor in the Economics Department at Yale. 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. 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). At the heart of this analysis are West Germany population censuses for the years 1933, 1939, 1950, and 1961. For the case of India, service-led growth was an important driver of risingliving standard. Population Growth and Firm-Product Dynamics (with Michael Peters) Population growth has declined markedly in almost all major economies. In his research he focuses on economic growth and long-run economic development. 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. Speaker(s) Location. Try again later. [8] 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. 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. I started working on growth theory during my PhD at MIT. Footer Menu. In many developing countries, structural transformation takes the form of a rapid rise of services with limited industrialization. . This inflow increased the German population by almost 20%. 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. It is ideal for those who pursue high level professional careers in industry and government, or further study for the Ph.D. degree. Lack of Selection and Limits to Delegation: Firm Dynamics in Developing Countries . For example, the recent influx of immigrants from Syria to Germany was pre-dominantly directed towards cities. ", Michael Peters & Ralph A. 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 Skip to main content Michael Peters Economics Department, . Macroeconomics Development Economics Growth. We develop a methodology to measure the aggregate effects of input trade that takes such heterogeneity into account. In this paper, I study a particular historical episode to provide direct evidence for the empirical relevance of such scale effects. For the case of Germany, firm sorting acts as an amplifier of spatial inequality and accounts for. 2 PDF A commitment folk theorem A. Kalai, E. Kalai, E. Lehrer, D. Samet Economics And they, luckily, had taken pictures of the old census publications, which I could digitize. ", Celik, Gorkem & Peters, Michael, 2008. Research. Title. I am also a research affiliate at the CEPR and a faculty research fellow at the NBER. What are the policy implications, if any, of this research? The ensuing expulsion was implemented between 1945 and 1948 and represents one of the largest forced population movements in world history. firm and location productivity arecomplements and labor market frictions are sufficiently large. 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. Economics Department, Yale University. Michael Peters. 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. I am an Assistant Professor at the Department of Economics at the University of California, San Diego. endstream endobj startxref 0 %%EOF 43 0 obj <>stream 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. To link different versions of the same work, where versions have a different title, use this form. First, the German economy had just emerged from the Second World War and firm creation might have been particularly mobile across space. I think there are so many related interesting and important questions to work on. Students are exposed to detailed descriptions of 'how to' embark on a new venture in a logical manner. 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. My results are consistent with this literature, even though my analysis takes a long-run view, which is I think more novel. The Bulletin on Retirement and Disability, Productivity, Innovation, and Entrepreneurship, Boosting Grant Applications from Faculty at MSIs, Conference on Research in Income and Wealth, Early Indicators of Later Work Levels, Disease and Death, Improving Health Outcomes for an Aging Population, Measuring the Clinical and Economic Outcomes Associated with Delivery Systems, Retirement and Disability Research Center, The Roybal Center for Behavior Change in Health, Training Program in Aging and Health Economics, Transportation Economics in the 21st Century. His research mostly focuses on macroeconomics, economic development and growth, and international trade. Yale Department of Economics. Michael Porter is the author of 20 books and numerous articles including Competitive Strategy, Competitive Advantage, Competitive Advantage of Nations, and On Competition. target no need to return item. He received his undergraduate degree in Economics at the University of Mannheim and his PhD from MIT. degree in economics. Affiliation: Yale. J. Blaum, Claire Lelarge, Michael Peters Published 1 December 2016 Economics ERN: Microeconometric Models of Firm Behavior in Open Economies (Topic) Firms differ substantially in their participation in foreign input markets. 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 & Sergei Severinov, 2008. Please note that most corrections can take a couple of weeks to filter through the various RePEc services. 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. 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 Economics SSRN Electronic Journal 2021 Virtually all theories of economic growth predict a positive relationship between population size and productivity. 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. Journal of Urban Economics, Volume 120, July 2022, 103454. ", Michael Peters & Sergei Severinov, 2001. 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 Cited by. The large inflows led to persistent changes in the sectoral composition of the local economy. 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. 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. In his research he focuses on economic growth and long-run economic development. 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