To what extent these findings have a direct relevance for immigration policy today, is a great question. 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. . The department offers a program of mentoring for students who want to pursue graduate education in economics (CARE). Verified email at yale.edu. ", Epstein, Larry G. & Peters, Michael, 1999. Research - Michael Peters My results are consistent with this literature, even though my analysis takes a long-run view, which is I think more novel. With leading researchers in economic theory, econometrics, international economics, and macroeconomics, the Economics Department at Penn State is an outstanding department. Increases in per-capita income, particularly in the long run. Michael Peters Economics SSRN Electronic Journal 2021 Virtually all theories of economic growth predict a positive relationship between population size and productivity. The system can't perform the operation now. Second, the refugees were allocated to rural areas and not to urban centers. 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. Market Size and Spatial Growth - Evidence from Germany's Post-War How do local economies respond to large increases to the size of their population? 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. 2038 MICHAEL PETERS products and markup-reducing product churning through creative destruction shape the equilibrium distribution of markups. ", Michael Peters & Sergei Severinov, 1995. Follow. 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. ", Peters, Michael & Szentes, Balazs, 2009. Macroeconomics Development Economics Growth. Conor Walsh - Google Scholar 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. 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 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). 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 But even within the US there are vast regional differences in the type of migrants that settle in different areas. Michael Peters | Yale Department of Economics A departmentalhonors programprovides a small group of outstanding students an opportunity for independent research and close contact with faculty and fellow students. Department of Economics. ", Celik, Gorkem & Peters, Michael, 2011. Most demographers expect the global population to decline starting by around 2065. For the case of Germany, firm sorting acts as an amplifier of spatial inequality and accounts for. Michael Peters Economics Department, Yale University Verified email at . 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. Verified email at columbia.edu - Homepage. 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. 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. 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. targets the more productive firms can be beneficial in poor countries while being harmful in countries close to the economic frontier. Understanding better what the likely economic effects of this unprecedented change are going to be seems very important to me. 2023 National Bureau of Economic Research. [PDF] Declining Dynamism, Increasing Markups and Missing Growth: The 0q$D~;4} AF@D m endstream endobj 20 0 obj <> endobj 21 0 obj <> endobj 22 0 obj <>stream Michael Peters - Vice President Corporate Strategy - LinkedIn 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. The first months where very discouraging because so little data seemed to have survived. 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 Solutions Manual - Michael Peters A research summary and interview look at new work on the economic consequences of a large refugee settlement after World War II. 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. 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. endstream endobj startxref 0 %%EOF 43 0 obj <>stream My research interests are in micro theory, especially the theory of competing mechanisms, and the theory of directed search. Fertility rates in most of the developed world have already declined below 2 and we see the same trends in developing countries. Social Menu. [PDF] A folk theorem for competing mechanisms | Semantic Scholar This is in stark contrast to most episodes of voluntary migration, both in the modern era and in the past. Michael Porter - Wikipedia I am also a research affiliate at the CEPR and a faculty research fellow at the NBER. Michael Peters - Contact 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 Geography of Remote Work . 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. 6 October, 2021 4:00 pm-6:00 pm. Speaker(s) Location. Yale. Try again later. The Gains from Input Trade with Heterogeneous Importers Finally, the 1950s and 1960s were characterized by a secular increase in the manufacturing sector. To make corrections to the bibliographic information of a particular item, find the technical contact on the abstract page of that item. Michael Peters | CEPR Michael Peters | Queen's Economics Department So, at some point around 2010 I started to explore whether one could compile empirical evidence on this episode. See all articles by Michael Peters Michael Peters. Refugee settlement led to persistent increases in the local population, the share of people working in manufacturing, and income per capita. Footer Menu. Michael Peters - Google Scholar . & Severinov,S., 2001. American Economic Review. Virtual. Productive firms thus settle in productive. 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. Michael Peters. 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. 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 . Lack of Selection and Limits to Delegation: Firm Dynamics in Developing Countries . . hb```f``} cf`ah`.d0 Publications by author | Yale Department of Economics I started working on growth theory during my PhD at MIT. New Research by Michael Peters on the Economic Consequences of Refugee Sort. ", Sergei Severinov & Michael Peters, 2004. 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 Box 21345, New . Students are exposed to detailed descriptions of 'how to' embark on a new venture in a logical manner. A minor in economics is open to students enrolled in any college. 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. Negotiation and Take it or Leave it in Common Agency Journal of Economic Theory July 2003, Volume 111, Issue 1, Pages 88-109. . 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, Yale - Department of Economics Winter, 1983. For the case of India, service-led growth was an important driver of risingliving standard. Michael Peters - Vancouver School of Economics 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 | Cowles Foundation for Research in Economics At the same time, the historical sources were full of anecdotes, which seemed to point at exactly the mechanism I wanted to explore. Peters,M. Journal of Urban Economics, Volume 120, July 2022, 103454. 180 * 2021: [8] 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. 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. The following articles are merged in Scholar. 37 (2), pages 281-306, November. It was a real pleasure to talk with Mohamed El-Erian and cover a wide range of topics from economic . Finally, most of the literature focusing on the link between density and productivity focuses on the effects of positive population shocks. 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. Start your day off right, with a Dayspring Coffee Michael Peters | IDEAS/RePEc Michael Peters | VoxDev 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). armed forces vacation club for veterans 082 825 4557; welsh keith brymer jones wife zapperstore.xyz@gmail.com About; Graduate; IDE-MA Program; Undergraduate; Events; Research; Centers; P.O. Ming Xu. 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 Department of Economics Yale University 28 Hillhouse Avenue New Haven, CT 06511 Tel: (203) 436-8475 Being from Germany myself, one hears lots of stories about the WW2 expulsion. 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. Yale Department of Economics. 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. You can help correct errors and omissions. Ufuk Akcigit - Google Scholar 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. Business dynamism - namely job reallocation, firm entry and creative destruction - 20 PDF View 7 excerpts, cites results and methods