", Epstein, Larry G. & Peters, Michael, 1999. This particular setting is, of course, close to my heart. You can help correct errors and omissions. For example, the recent influx of immigrants from Syria to Germany was pre-dominantly directed towards cities. ", Sergei Severinov & Michael Peters, 2004. He received his undergraduate degree in Economics at the University of Mannheim and his PhD from MIT. , & Michael Peters [NBER WP #26770] peer-reviewed publications: The Return to Big City Experience [04/22] w/ Mads Hejlesen . At the same time, the historical sources were full of anecdotes, which seemed to point at exactly the mechanism I wanted to explore. Fertility rates in most of the developed world have already declined below 2 and we see the same trends in developing countries. 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. Productive firms thus settle in productive. First, the German economy had just emerged from the Second World War and firm creation might have been particularly mobile across space. 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. 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 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. ", Peters, Michael & Troncoso-Valverde, Cristian, 2010. All material on this site has been provided by the respective publishers and authors. Macroeconomics Development Economics Growth. 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 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. " Internet auctions with many traders ," Working papers 11, Wisconsin Madison - Social Systems. ", Michael Peters & Ralph A. 180 * 2021: 2038 MICHAEL PETERS products and markup-reducing product churning through creative destruction shape the equilibrium distribution of markups. Conor Walsh. Create your own unique website with customizable templates. 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. 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. Population Growth and Firm-Product Dynamics (with Michael Peters) Population growth has declined markedly in almost all major economies. American Economic Journal . Penn State now offers a two-year program designated only for the M.A. 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. The system can't perform the operation now. The Geography of Remote Work . 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. Please note that most corrections can take a couple of weeks to filter through the various RePEc services. For example, after refugee settlement, the manufacturing sector expanded and stayed higher many years after refugees arrived. Skip to main content His research mostly focuses on macroeconomics, economic development and growth, and international trade. Articles Cited by Co-authors. Michael Peters Economics Department, . I think we need more work to understand what happens when the population shrinks. Like Tweet Share. degree in economics. 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 . It was a real pleasure to talk with Mohamed El-Erian and cover a wide range of topics from economic . Macroeconomics Economic Growth Urban Economics. 37 (2), pages 281-306, November. 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. 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). 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. The following articles are merged in Scholar. Economics Department, Yale University - Cited by 1,053 - Macroeconomics - Development Economics - Growth . Title. Michael Peters is an Associate Professor of Economics at Yale University and a Faculty Research Fellow at the NBER. ", Michael Peters & Sergei Severinov, 1995. Winter, 1983. So, at some point around 2010 I started to explore whether one could compile empirical evidence on this episode. 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. 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. Follow. Michael Peters ; Michael Peters . What are some exciting areas for further research in this area? ", Celik, Gorkem & Peters, Michael, 2008. 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. My aunt, for example, grew up in the Eastern Territories and had to flee on a horse. The first months where very discouraging because so little data seemed to have survived. Comprehensive cases at the end of the text have been hand-picked by the authors to go hand-in-hand . Fabrizio Zilibotti. 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. Affiliation: Yale. 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. 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. What were the results? Box 21345, New . ", Peters, Michael & Szentes, Balazs, 2009. These results provide direct evidence on the link between population growth, industrialization, and subsequent income growth. ", Michael Peters & Sergei Severinov, 2001. Business dynamism - namely job reallocation, firm entry and creative destruction - is declining. The findings echo Acemoglu et al. Sort. 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. My research interests are in micro theory, especially the theory of competing mechanisms, and the theory of directed search. American Economic Review. We develop a methodology to measure the aggregate effects of input trade that takes such heterogeneity into account. Second, the refugees were allocated to rural areas and not to urban centers. ", Peters, Michael & Severinov, Sergei, 2005. 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. 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. 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. ", Peters, Michael & Troncoso-Valverde, Cristin, 2013. J Blaum, C Lelarge, M Peters. 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. Department of Economics. 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. Most demographers expect the global population to decline starting by around 2065. 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 general information on how to correct material on RePEc, see these instructions. . The ones marked, American Economic Journal: Macroeconomics 10 (4), 77-127, Journal of International Economics 120, 59-83, New articles related to this author's research, Research Assistant Professor of Economics, Boston University, Department of Economics, University of Chicago, Tuntex Professor of International and Development Economics, Yale University, Professor of Economics, London School of Economics, Professor of Economics, INSEAD, London School of Economics and College de France, Heterogeneous Markups, Growth, and Endogenous Misallocation, The gains from input trade with heterogeneous importers, Lack of selection and limits to delegation: firm dynamics in developing countries, Market size and spatial growth-evidence from germanys post-war population expulsions, Firm size, quality bias and import demand, A method to construct geographical crosswalks with an application to us counties since 1790, Growing Like India: The Unequal Effects of Service-Led Growth, Solutions manual for introduction to modern economic growth, European immigrants and the United States rise to the technological frontier, Creative Destruction, Distance to Frontier, and Economic Development, Sprouting Cities: How Rural America Industrialized, Discussion of The Matthew effectand market concentration: Search complementarities and monopsony power by Fernndez-Villaverde, Mandelman, Yu and Zanetti. My results are consistent with this literature, even though my analysis takes a long-run view, which is I think more novel. I am an Associate Professor in the Economics Department at Yale. interests: Trade, Economic Geography, and Macroeconomics contact: . hbbd``b`*@q`$3DY $,> L@)"3` 2 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. Is the rise of services only due to income effects or can growth be service-led? 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. 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
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