endstream endobj startxref 0 %%EOF 43 0 obj <>stream Creative Destruction, Distance to Frontier, and Economic Development by ". 6 October, 2021 4:00 pm-6:00 pm. His research mostly focuses on macroeconomics, economic development and growth, and international trade. 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? Most demographers expect the global population to decline starting by around 2065. 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. I started working on growth theory during my PhD at MIT. 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 The findings echo Acemoglu et al. 2023 National Bureau of Economic Research. 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. Michael Peters | NBER There are two different undergraduate degrees in the College of the Liberal Arts that a student may earn in economics at Penn State. 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. See all articles by Michael Peters Michael Peters. Michael Peters | Queen's Economics Department He received his undergraduate degree in Economics at the University of Mannheim and his PhD from MIT. 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. Population Growth and Firm-Product Dynamics (with Michael Peters) Population growth has declined markedly in almost all major economies. 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. In my research I focus primarily on economic growth and long-run economic development. 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 . Department of Economics. ", Peters, Michael & Severinov, Sergei, 2006. . 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. Michael Peters Economics Department, Yale University Verified email at yale.edu. We argue this trend has important consequences for creative destruction, product concentration, and firm dynamics. In his research he focuses on economic growth and long-run economic development. 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. Skip to main content This particular setting is, of course, close to my heart. 0q$D~;4} AF@D m endstream endobj 20 0 obj <> endobj 21 0 obj <> endobj 22 0 obj <>stream 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". Lack of Selection and Limits to Delegation: Firm Dynamics in Developing Countries . 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. CAPCP Center for the Study of Auctions, Procurements, and Competition Policy, CRIFES Center for Research on International Financial and Energy Security. 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 . ", Peters, Michael & Szentes, Balazs, 2009. Yale. Peters,M. Michael Peters - Vancouver School of Economics How do local economies respond to large increases to the size of their population? 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. Macroeconomics Economic Growth Urban Economics. Being from Germany myself, one hears lots of stories about the WW2 expulsion. " An ascending double auction ," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 2038 MICHAEL PETERS products and markup-reducing product churning through creative destruction shape the equilibrium distribution of markups. Department of Economics Yale University 28 Hillhouse Avenue New Haven, CT 06511 Tel: (203) 436-8475 The ensuing expulsion was implemented between 1945 and 1948 and represents one of the largest forced population movements in world history. Start your day off right, with a Dayspring Coffee Second, the refugees were allocated to rural areas and not to urban centers. Michael Peters - Contact Title . 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. [PDF] The End of Economic Growth? Unintended Consequences of a At least three aspects of this study seem particularly context specific. Winter, 1983. 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. Solutions Manual - Michael Peters At the same time, the historical sources were full of anecdotes, which seemed to point at exactly the mechanism I wanted to explore. 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. Yale University - Department of Economics; Yale University - Cowles Foundation. Understanding better what the likely economic effects of this unprecedented change are going to be seems very important to me. I think we need more work to understand what happens when the population shrinks. 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 Department, Yale University Verified email at . His research mostly focuses on macroeconomics, economic development and growth, and international trade. Queen's University Dunning Hall, Room 209 94 University Avenue Kingston, Ontario K7L 3N6. Market Size and Spatial Growth - Evidence from Germany's Post-War ", Celik, Gorkem & Peters, Michael, 2008. 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 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 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. The large inflows led to persistent changes in the sectoral composition of the local economy. The following articles are merged in Scholar. Speaker(s) Location. In many developing countries, structural transformation takes the form of a rapid rise of services with limited industrialization. For example, after refugee settlement, the manufacturing sector expanded and stayed higher many years after refugees arrived. I would love to see more quantitative work on the consequences of migration that takes such differences into account. Powered by Create your own unique website with customizable templates. Ufuk Akcigit - Google Scholar [PDF] Declining Dynamism, Increasing Markups and Missing Growth: The PDF Heterogeneous Markups, Growth, and Endogenous Misallocation hb```f``} cf`ah`.d0 ", Peters, Michael & Troncoso-Valverde, Cristian, 2010. So, at some point around 2010 I started to explore whether one could compile empirical evidence on this episode. Conor Walsh. My results are consistent with this literature, even though my analysis takes a long-run view, which is I think more novel. . Michael Peters from Yale will present Spatial Structural Change. Michael Porter - Wikipedia [8] Author(s) Michael Peters. Sort. In his research he focuses on economic growth and long-run economic development. 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). Michael Peters - Vice President Corporate Strategy - LinkedIn 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). [PDF] Firm Creation and Local Growth | Semantic Scholar ", Michael Peters & Ralph A. interests: Trade, Economic Geography, and Macroeconomics contact: . What are the policy implications, if any, of this research? Michael Porter is the author of 20 books and numerous articles including Competitive Strategy, Competitive Advantage, Competitive Advantage of Nations, and On Competition. degree in economics. He received his undergraduate degree in Economics at the University of Mannheim and his PhD from MIT. A departmentalhonors programprovides a small group of outstanding students an opportunity for independent research and close contact with faculty and fellow students. 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. It was a real pleasure to talk with Mohamed El-Erian and cover a wide range of topics from economic . Michael Peters | Yale Economic Growth Center The department offers a program of mentoring for students who want to pursue graduate education in economics (CARE). Michael Peters - Google Scholar 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 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. Peters, Michael and Alp Simsek (2009), Solutions Manual for "Introduction to Modern Economic Growth", Princeton University Press. 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. Is the rise of services only due to income effects or can growth be service-led? 180 * 2021: Title. Their, This "Cited by" count includes citations to the following articles in Scholar. ", Peters, Michael & Severinov, Sergei, 1997. A research summary and interview look at new work on the economic consequences of a large refugee settlement after World War II. 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. ", Peters, Michael & Troncoso-Valverde, Cristin, 2013. Michael Peters, Yale - Department of Economics Macroeconomics Development Economics Growth. Try again later. Financial Accounting in an Economic Context - Jamie Pratt, Michael F ", Michael Peters & Sergei Severinov, 1995. "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. 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. These results provide direct evidence on the link between population growth, industrialization, and subsequent income growth. 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. Michael Peters Vancouver School of Economics University of British Columbia 600 Iona Drive Vancouver, Canada V6T 1L4 604-822-4418 peters econ ubc ca. And they, luckily, had taken pictures of the old census publications, which I could digitize. & Severinov,S., 2001. Michael Peters Economics Department, . Verified email at columbia.edu - Homepage. He received his undergraduate degree in Economics at the University of Mannheim and his PhD from MIT. 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. 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. Michael Peters | CEPR Some immigration is low-skilled, some immigration is high-skilled. ", Epstein, Larry G. & Peters, Michael, 1999. Research. 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 Articles Cited by Co-authors. 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. For example, the recent influx of immigrants from Syria to Germany was pre-dominantly directed towards cities. A Revelation Principle for Competing Mechanisms 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. 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. 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.