We argue this trend has important consequences for creative destruction, product concentration, and firm dynamics. Winter, 1983. The emergence of new cities in Rural America played a big part for this transition. 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). CAPCP Center for the Study of Auctions, Procurements, and Competition Policy, CRIFES Center for Research on International Financial and Energy Security. & Severinov,S., 2001. The large inflows led to persistent changes in the sectoral composition of the local economy. Fabrizio Zilibotti. ", Peters, Michael & Severinov, Sergei, 1997. Michael Peters is an Associate Professor of Economics at Yale University and a Faculty Research Fellow at the NBER. " Internet auctions with many traders ," Working papers 11, Wisconsin Madison - Social Systems. Second, the refugees were allocated to rural areas and not to urban centers. The US is clearly the prime example of a country that was able to attract high-skilled migrants for a good part of the last 150 years. January 2021 CFP 1710 Author(s) Michael Peters. Footer Menu. He received his undergraduate degree in Economics at the University of Mannheim and his PhD from MIT. 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. As far as immigration is concerned, there is still lots to understand in terms of the importance of the type of skills immigrants bring. His research mostly focuses on macroeconomics, economic development and growth, and international trade. Department of Economics Yale University 28 Hillhouse Avenue New Haven, CT 06511 Tel: (203) 436-8475 In many developing countries, structural transformation takes the form of a rapid rise of services with limited industrialization. His research mostly focuses on macroeconomics, economic development and growth, and international trade. Social Menu. 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. Michael Peters from Yale will present Spatial Structural Change. Economics Department, Yale University - Cited by 1,053 - Macroeconomics - Development Economics - Growth . Allen Head. Michael Peters & Sergei Severinov, 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 & Severinov, Sergei, 2003. Increases in per-capita income, particularly in the long run. 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). So, at some point around 2010 I started to explore whether one could compile empirical evidence on this episode. The department offers a program of mentoring for students who want to pursue graduate education in economics (CARE). Follow. 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. 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 . 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 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. endstream endobj startxref 0 %%EOF 43 0 obj <>stream What were the results? At least three aspects of this study seem particularly context specific. What are some exciting areas for further research in this area? ", Sergei Severinov & Michael Peters, 2004. Michael Peters Economics Department, Yale University Verified email at . All material on this site has been provided by the respective publishers and authors. Phone (613) 533-2250 Fax (613) 533-6668 Email https . 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. How do local economies respond to large increases to the size of their population? New research by Yale Economist Michael Peters suggests that a large refugee settlement after World War II had three important consequences: The positive relationship between population size and productivity is at the heart of virtually all theories of economic growth. ", Celik, Gorkem & Peters, Michael, 2008. Speaker(s) Location. Try again later. Yale. I am an Associate Professor in the Economics Department at Yale. All Rights Reserved. I think we need more work to understand what happens when the population shrinks. 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". Title. 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. 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. For the case of India, service-led growth was an important driver of risingliving standard. 2023 National Bureau of Economic Research. ", Michael Peters & Sergei Severinov, 1995. Macroeconomics Economic Growth Urban Economics. 0q$D~;4} AF@D m endstream endobj 20 0 obj <> endobj 21 0 obj <> endobj 22 0 obj <>stream This particular setting is, of course, close to my heart. hb```f``} cf`ah`.d0 My research interests are in micro theory, especially the theory of competing mechanisms, and the theory of directed search. 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. But even within the US there are vast regional differences in the type of migrants that settle in different areas. A research summary and interview look at new work on the economic consequences of a large refugee settlement after World War II. " An ascending double auction ," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 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. The findings echo Acemoglu et al. 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 update listings or check citations waiting for approval, Michael Peters should log into the RePEc Author Service. This inflow increased the German population by almost 20%. Lack of Selection and Limits to Delegation: Firm Dynamics in Developing Countries . 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. armed forces vacation club for veterans 082 825 4557; welsh keith brymer jones wife zapperstore.xyz@gmail.com Michael Peters Vancouver School of Economics University of British Columbia 600 Iona Drive Vancouver, Canada V6T 1L4 604-822-4418 peters econ ubc ca. 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. Economics Department, Yale University. And they, luckily, had taken pictures of the old census publications, which I could digitize. 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. ". 2 PDF A commitment folk theorem A. Kalai, E. Kalai, E. Lehrer, D. Samet Economics 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. The program provides rigorous training in econometrics and quantitative economics as well as in economic theory. In this paper, I study a particular historical episode to provide direct evidence for the empirical relevance of such scale effects. Some immigration is low-skilled, some immigration is high-skilled. 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. Sort. 2038 MICHAEL PETERS products and markup-reducing product churning through creative destruction shape the equilibrium distribution of markups. . My results are consistent with this literature, even though my analysis takes a long-run view, which is I think more novel. targets the more productive firms can be beneficial in poor countries while being harmful in countries close to the economic frontier. Powered by Create your own unique website with customizable templates. At the heart of this analysis are West Germany population censuses for the years 1933, 1939, 1950, and 1961. For example, the recent influx of immigrants from Syria to Germany was pre-dominantly directed towards cities. Queen's University Dunning Hall, Room 209 94 University Avenue Kingston, Ontario K7L 3N6. ", Peters, Michael & Troncoso-Valverde, Cristin, 2013. Finally, the 1950s and 1960s were characterized by a secular increase in the manufacturing sector. ", Peters, Michael & Troncoso-Valverde, Cristian, 2010. Michael Peters ; Michael Peters . First, the German economy had just emerged from the Second World War and firm creation might have been particularly mobile across space. ", Michael Peters & Ralph A. Virtually all theories of economic growth predict a positive relationship between population size and productivity. 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. ", Celik, Gorkem & Peters, Michael, 2011.