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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. But even within the US there are vast regional differences in the type of migrants that settle in different areas. Michael Peters is an Associate Professor of Economics at Yale University and a Faculty Research Fellow at the NBER. 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? Being from Germany myself, one hears lots of stories about the WW2 expulsion. 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. 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. interests: Trade, Economic Geography, and Macroeconomics contact: . Conor Walsh. 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. 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. Department of Economics, University of Chicago - Cited by 9,241 - Macroeconomics - Economic Growth - Firm Dynamics - Entrepreneurship - Innovation . At the heart of this analysis are West Germany population censuses for the years 1933, 1939, 1950, and 1961. endstream endobj startxref 0 %%EOF 43 0 obj <>stream 2038 MICHAEL PETERS products and markup-reducing product churning through creative destruction shape the equilibrium distribution of markups. American Economic Review. . Michael Peters from Yale will present Spatial Structural Change. target no need to return item. 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". 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. I would love to see more quantitative work on the consequences of migration that takes such differences into account. His research mostly focuses on macroeconomics, economic development and growth, and international trade. The persistent long-term effects of the refugee settlement imply that the government policy of settling refugees in rural labor markets might have changed the long-term path of local industrialization in West Germany. I am an Assistant Professor at the Department of Economics at the University of California, San Diego. However, these gains were heavily skewed toward high-income households living in urban districts. Increases in per-capita income, particularly in the long run. 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. "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. 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. ", Peters, Michael & Severinov, Sergei, 2003. Sort by citations Sort by year Sort by title. Department of Economics Yale University 28 Hillhouse Avenue New Haven, CT 06511 Tel: (203) 436-8475 I think we need more work to understand what happens when the population shrinks. See all articles by Michael Peters Michael Peters. For the case of Germany, firm sorting acts as an amplifier of spatial inequality and accounts for. Affiliation: Yale. And they, luckily, had taken pictures of the old census publications, which I could digitize. What motivated you to take on this research question? 2023 National Bureau of Economic Research. 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. 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. What are some exciting areas for further research in this area? Winter, 1983. 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. Create your own unique website with customizable templates. ", Michael Peters & Ralph A. 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. 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 The link between market size and productivity has always been a central aspect in the field but there was relatively little empirical work. firm and location productivity arecomplements and labor market frictions are sufficiently large. 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). 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. Columbia University. ", Peters, Michael & Troncoso-Valverde, Cristin, 2013. . January 2021 CFP 1710 Author(s) Michael Peters. 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. Skip to main content This is in stark contrast to most episodes of voluntary migration, both in the modern era and in the past. Sort. Cited by. Fertility rates in most of the developed world have already declined below 2 and we see the same trends in developing countries. Macroeconomics Economic Growth Urban Economics. Virtually all theories of economic growth predict a positive relationship between population size and productivity. What are the policy implications, if any, of this research? Productive firms thus settle in productive. ", Peters, Michael & Szentes, Balazs, 2009. 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. In this paper, I study a particular historical episode to provide direct evidence for the empirical relevance of such scale effects. " Internet auctions with many traders ," Working papers 11, Wisconsin Madison - Social Systems. 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. Follow. 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. Like Tweet Share. (2006). 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. The emergence of new cities in Rural America played a big part for this transition. There are two different undergraduate degrees in the College of the Liberal Arts that a student may earn in economics at Penn State. Michael Peters Economics Department, Yale University Verified email at yale.edu. Ming Xu. , & Michael Peters [NBER WP #26770] peer-reviewed publications: The Return to Big City Experience [04/22] w/ Mads Hejlesen . Michael Peters & Sergei Severinov, 2008. ", Peters, Michael & Severinov, Sergei, 2005. armed forces vacation club for veterans 082 825 4557; welsh keith brymer jones wife zapperstore.xyz@gmail.com 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. CAPCP Center for the Study of Auctions, Procurements, and Competition Policy, CRIFES Center for Research on International Financial and Energy Security. 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. 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. The system can't perform the operation now. A research summary and interview look at new work on the economic consequences of a large refugee settlement after World War II. He received his undergraduate degree in Economics at the University of Mannheim and his PhD from MIT. 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. Footer Menu. 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. My results are consistent with this literature, even though my analysis takes a long-run view, which is I think more novel. Social Menu. Some immigration is low-skilled, some immigration is high-skilled. ", Michael Peters & Sergei Severinov, 2001. 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. 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. With leading researchers in economic theory, econometrics, international economics, and macroeconomics, the Economics Department at Penn State is an outstanding department. 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). First, the German economy had just emerged from the Second World War and firm creation might have been particularly mobile across space. targets the more productive firms can be beneficial in poor countries while being harmful in countries close to the economic frontier. 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. The first months where very discouraging because so little data seemed to have survived. Population Growth and Firm-Product Dynamics (with Michael Peters) Population growth has declined markedly in almost all major economies. 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. Michael Peters - Contact Welcome to my website! For example, after refugee settlement, the manufacturing sector expanded and stayed higher many years after refugees arrived. 180 * 2021: 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. 37 (2), pages 281-306, November. To make corrections to the bibliographic information of a particular item, find the technical contact on the abstract page of that item. 6 October, 2021 4:00 pm-6:00 pm. Box 21345, New . This particular setting is, of course, close to my heart. 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. 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. In particular, refugee settlement seemed to have ignited the process of industrialization in agricultural communities. At least three aspects of this study seem particularly context specific. 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). The program provides rigorous training in econometrics and quantitative economics as well as in economic theory. Michael Peters Economics Department, Yale University Verified email at . hbbd``b`*@q`$3DY $,> L@)"3` 2 In my research I focus primarily on economic growth and long-run economic development. In his research he focuses on economic growth and long-run economic development. I am also a research affiliate at the CEPR and a faculty research fellow at the NBER. 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. In this paper, I study a particular historical episode to provide direct evidence for the empirical relevance of such scale effects. 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. Allen Head. In many developing countries, structural transformation takes the form of a rapid rise of services with limited industrialization. Peters,M. 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. 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. Business dynamism - namely job reallocation, firm entry and creative destruction - is declining. Michael Peters Economics 1995 This paper explores two models of an economy in which contracts are exchanged. ", Sergei Severinov & Michael Peters, 2004. 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. 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. All material on this site has been provided by the respective publishers and authors. View Michael Peters' profile on LinkedIn, the world's largest professional community. My research interests are in micro theory, especially the theory of competing mechanisms, and the theory of directed search. ", Celik, Gorkem & Peters, Michael, 2011. About; Graduate; IDE-MA Program; Undergraduate; Events; Research; Centers; P.O. American Economic Review 111 (1), 231-75, 2021. Michael Peters ; Michael Peters . 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. 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. U Akcigit, H Alp, M Peters. Is the rise of services only due to income effects or can growth be service-led? ", Peters, Michael & Severinov, Sergei, 2006. 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 .