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The program provides rigorous training in econometrics and quantitative economics as well as in economic theory. 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. Winter, 1983. 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. Comprehensive cases at the end of the text have been hand-picked by the authors to go hand-in-hand . Some immigration is low-skilled, some immigration is high-skilled. He received his undergraduate degree in Economics at the University of Mannheim and his PhD from MIT. Michael Peters Economics Department, . 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 & Troncoso-Valverde, Cristian, 2010. View Michael Peters' profile on LinkedIn, the world's largest professional community. Productive firms thus settle in productive. 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 the case of India, service-led growth was an important driver of risingliving standard. To link different versions of the same work, where versions have a different title, use this form. 180 * 2021: Try again later. I am an Assistant Professor at the Department of Economics at the University of California, San Diego. ", Celik, Gorkem & Peters, Michael, 2008. 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. Peters, Michael and Alp Simsek (2009), Solutions Manual for "Introduction to Modern Economic Growth", Princeton University Press. 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 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. 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. I started working on growth theory during my PhD at MIT. A bachelor of arts (ECLBA) or a bachelor of science degree (ECLBS) in economics. CAPCP Center for the Study of Auctions, Procurements, and Competition Policy, CRIFES Center for Research on International Financial and Energy Security. hb```f``} cf`ah`.d0 Verified email at columbia.edu - Homepage. I think we need more work to understand what happens when the population shrinks. . In his research he focuses on economic growth and long-run economic development. I would love to see more quantitative work on the consequences of migration that takes such differences into account. 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. But even within the US there are vast regional differences in the type of migrants that settle in different areas. hbbd``b`*@q`$3DY $,> L@)"3` 2 ". To what extent these findings have a direct relevance for immigration policy today, is a great question. 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 Follow. 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. In this paper, I study a particular historical episode to provide direct evidence for the empirical relevance of such scale effects. American Economic Review. Phone (613) 533-2250 Fax (613) 533-6668 Email https . So, at some point around 2010 I started to explore whether one could compile empirical evidence on this episode. Department of Economics. 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 ", Peters, Michael & Severinov, Sergei, 2005. Title. Virtual. Articles Cited by Co-authors. [8] 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 particular setting is, of course, close to my heart. 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. 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. 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. What are the policy implications, if any, of this research? 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, 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. And they, luckily, had taken pictures of the old census publications, which I could digitize. What motivated you to take on this research question? 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. J Blaum, C Lelarge, M Peters. Refugee settlement led to persistent increases in the local population, the share of people working in manufacturing, and income per capita. In his research he focuses on economic growth and long-run economic development. My aunt, for example, grew up in the Eastern Territories and had to flee on a horse. Macroeconomics Economic Growth Urban Economics. . U Akcigit, H Alp, M Peters. For example, the recent influx of immigrants from Syria to Germany was pre-dominantly directed towards cities. At the same time, the historical sources were full of anecdotes, which seemed to point at exactly the mechanism I wanted to explore. There are two different undergraduate degrees in the College of the Liberal Arts that a student may earn in economics at Penn State. Create your own unique website with customizable templates. Increases in per-capita income, particularly in the long run. The first months where very discouraging because so little data seemed to have survived. The department offers a program of mentoring for students who want to pursue graduate education in economics (CARE). 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). 6 October, 2021 4:00 pm-6:00 pm. This inflow increased the German population by almost 20%. endstream endobj startxref 0 %%EOF 43 0 obj <>stream Being from Germany myself, one hears lots of stories about the WW2 expulsion. ", Peters, Michael & Troncoso-Valverde, Cristin, 2013. Michael Peters Economics 1995 This paper explores two models of an economy in which contracts are exchanged. The large inflows led to persistent changes in the sectoral composition of the local economy. ", Michael Peters & Sergei Severinov, 2001. To update listings or check citations waiting for approval, Michael Peters should log into the RePEc Author Service. 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. Conor Walsh. It is ideal for those who pursue high level professional careers in industry and government, or further study for the Ph.D. degree. There, details are also given on how to add or correct references and citations. Speaker(s) Location. The Geography of Remote Work . 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. For example, after refugee settlement, the manufacturing sector expanded and stayed higher many years after refugees arrived. Skip to main content 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. Their, This "Cited by" count includes citations to the following articles in Scholar. Virtually all theories of economic growth predict a positive relationship between population size and productivity. Michael Peters is an Associate Professor of Economics at Yale University and a Faculty Research Fellow at the NBER. ", Peters, Michael & Severinov, Sergei, 2006. 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 - is declining. ", Peters, Michael & Severinov, Sergei, 1997. A minor in economics is open to students enrolled in any college. 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). Yale. 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. Ming Xu. 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. My results are consistent with this literature, even though my analysis takes a long-run view, which is I think more novel. 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. Note that if the versions have a very similar title and are in the author's profile, the links will usually be created automatically. 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. Fertility rates in most of the developed world have already declined below 2 and we see the same trends in developing countries. 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. 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. Penn State now offers a two-year program designated only for the M.A. This is in stark contrast to most episodes of voluntary migration, both in the modern era and in the past. Box 21345, New . ", Epstein, Larry G. & Peters, Michael, 1999. 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). American Economic Journal . Yale University - Department of Economics; Yale University - Cowles Foundation. At the heart of this analysis are West Germany population censuses for the years 1933, 1939, 1950, and 1961. 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. . Business dynamism - namely job reallocation, firm entry and creative destruction - 20 PDF View 7 excerpts, cites results and methods 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. Journal of Urban Economics, Volume 120, July 2022, 103454. See all articles by Michael Peters Michael Peters. 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. January 2021 CFP 1710 Author(s) Michael Peters. "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. Columbia University. For general information on how to correct material on RePEc, see these instructions. 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. To make corrections to the bibliographic information of a particular item, find the technical contact on the abstract page of that item. 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. Please note that most corrections can take a couple of weeks to filter through the various RePEc services. In this paper, I study a particular historical episode to provide direct evidence for the empirical relevance of such scale effects. Allen Head. 37 (2), pages 281-306, November. For the case of Germany, firm sorting acts as an amplifier of spatial inequality and accounts for. Author(s) Michael Peters. Affiliation: Yale. Peters,M. The following articles are merged in Scholar. Footer Menu. firm and location productivity arecomplements and labor market frictions are sufficiently large. 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. What are some exciting areas for further research in this area? ", Michael Peters & Sergei Severinov, 1995. Most demographers expect the global population to decline starting by around 2065. %PDF-1.5 % Yale Department of Economics. Michael Peters Economics SSRN Electronic Journal 2021 Virtually all theories of economic growth predict a positive relationship between population size and productivity. . However, these gains were heavily skewed toward high-income households living in urban districts. As far as immigration is concerned, there is still lots to understand in terms of the importance of the type of skills immigrants bring. All Rights Reserved. Michael Porter is the author of 20 books and numerous articles including Competitive Strategy, Competitive Advantage, Competitive Advantage of Nations, and On Competition. My research interests are in micro theory, especially the theory of competing mechanisms, and the theory of directed search. (2006). 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. 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. degree in economics. About; Graduate; IDE-MA Program; Undergraduate; Events; Research; Centers; P.O. 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. In my research I focus primarily on economic growth and long-run economic development. 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. 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 Michael Peters. 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. Michael Peters from Yale will present Spatial Structural Change. 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 Before joining Yale University, he held a position at the London School of Economics. Population Growth and Firm-Product Dynamics (with Michael Peters) Population growth has declined markedly in almost all major economies. Finally, most of the literature focusing on the link between density and productivity focuses on the effects of positive population shocks. 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. 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? Michael Peters Economics Department, Yale University Verified email at . The link between market size and productivity has always been a central aspect in the field but there was relatively little empirical work.