These results provide direct evidence on the link between population growth, industrialization, and subsequent income growth. Winter, 1983. 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. 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. Productive firms thus settle in productive. Finally, most of the literature focusing on the link between density and productivity focuses on the effects of positive population shocks. Finally, the 1950s and 1960s were characterized by a secular increase in the manufacturing sector. 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. ", Peters, Michael & Troncoso-Valverde, Cristin, 2013. ", Celik, Gorkem & Peters, Michael, 2008. 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. 2038 MICHAEL PETERS products and markup-reducing product churning through creative destruction shape the equilibrium distribution of markups. Michael Peters from Yale will present Spatial Structural Change. Sort by citations Sort by year Sort by title. 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. In my research I focus primarily on economic growth and long-run economic development. I am an Assistant Professor at the Department of Economics at the University of California, San Diego. Title . . Research. Refugee settlement led to persistent increases in the local population, the share of people working in manufacturing, and income per capita. The ensuing expulsion was implemented between 1945 and 1948 and represents one of the largest forced population movements in world history. hWR8~}aU)$pnf[=dXdf3 #LZ%HOKqe;sLX"e"a.j0&5uB0tpV p?dc>'53i[C^kq6C_jQylAt;23].8^AQx>nsl?Xge1Wp\g>. 37 (2), pages 281-306, November. 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. 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. Note that if the versions have a very similar title and are in the author's profile, the links will usually be created automatically. 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 Fertility rates in most of the developed world have already declined below 2 and we see the same trends in developing countries. Department 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. For example, after refugee settlement, the manufacturing sector expanded and stayed higher many years after refugees arrived. All material on this site has been provided by the respective publishers and authors. In his research he focuses on economic growth and long-run economic development. Some immigration is low-skilled, some immigration is high-skilled. Ming Xu. ", Celik, Gorkem & Peters, Michael, 2011. To what extent these findings have a direct relevance for immigration policy today, is a great question. [8] And they, luckily, had taken pictures of the old census publications, which I could digitize. 0q$D~;4} AF@D m endstream endobj 20 0 obj <> endobj 21 0 obj <> endobj 22 0 obj <>stream I think there are so many related interesting and important questions to work on. January 2021 CFP 1710 Author(s) Michael Peters. Conor Walsh. My research interests are in micro theory, especially the theory of competing mechanisms, and the theory of directed search. 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 " An ascending double auction ," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. The link between market size and productivity has always been a central aspect in the field but there was relatively little empirical work. "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. Macroeconomics Economic Growth Urban Economics. Negotiation and Take it or Leave it in Common Agency Journal of Economic Theory July 2003, Volume 111, Issue 1, Pages 88-109. . Business dynamism - namely job reallocation, firm entry and creative destruction - 20 PDF View 7 excerpts, cites results and methods 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. 2023 National Bureau of Economic Research. As far as immigration is concerned, there is still lots to understand in terms of the importance of the type of skills immigrants bring. He received his undergraduate degree in Economics at the University of Mannheim and his PhD from MIT. firm and location productivity arecomplements and labor market frictions are sufficiently large. Population Growth and Firm-Product Dynamics (with Michael Peters) Population growth has declined markedly in almost all major economies. 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. 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 . With leading researchers in economic theory, econometrics, international economics, and macroeconomics, the Economics Department at Penn State is an outstanding department. At the same time, the historical sources were full of anecdotes, which seemed to point at exactly the mechanism I wanted to explore. American Economic Review 111 (1), 231-75, 2021. Columbia University. Comprehensive cases at the end of the text have been hand-picked by the authors to go hand-in-hand . 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. Is the rise of services only due to income effects or can growth be service-led? (2006). Department of Economics, University of Chicago - Cited by 9,241 - Macroeconomics - Economic Growth - Firm Dynamics - Entrepreneurship - Innovation . 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. degree in economics. Penn State now offers a two-year program designated only for the M.A. 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. 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. All Rights Reserved. There are two different undergraduate degrees in the College of the Liberal Arts that a student may earn in economics at Penn State. The model can be solved analytically and allows for a precise theoretical characteri-zation of the underlying determinants of market power and its macroeconomic conse-quences. 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. ", Peters, Michael & Szentes, Balazs, 2009. The system can't perform the operation now. Being from Germany myself, one hears lots of stories about the WW2 expulsion. 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.