Michael Kremer

Last updated

Michael Kremer
Kremer bio.jpg
Kremer in 2020
Born
Michael Robert Kremer

(1964-11-12) November 12, 1964 (age 56)
Education Harvard University (AB, AM, PhD)
Awards Nobel Prize in Economics (2019)
Scientific career
Fields Development economics
Health economics
Institutions Massachusetts Institute of Technology
Harvard University
The University of Chicago
Doctoral advisor Robert Barro
Doctoral students Edward Miguel [2]
Seema Jayachandran

Michael Robert Kremer (born November 12, 1964) [3] is an American development economist who is University Professor in Economics And Public Policy at the University of Chicago. [4] He is the founding director of the Development Innovation Lab at the Becker Friedman Institute for Economics. [5] Kremer served as the Gates Professor of Developing Societies at Harvard University until 2020. [4] In 2019, he was jointly awarded the Nobel Memorial Prize in Economics, together with Esther Duflo and Abhijit Banerjee, [6] "for their experimental approach to alleviating global poverty." [7]

Contents

Early life and education

Michael Robert Kremer was born in 1964 to Eugene and Sara Lillian (née Kimmel) Kremer in New York City. His father, Eugene Kremer was the son of Jewish immigrants to the US from Austria-Poland. His mother, Sara Lillian Kremer was a professor of English literature, who specialized in American Jewish and Holocaust literature. Her parents were Jewish immigrants to the US from Poland. [8] He graduated from Harvard University (A.B. in Social Studies in 1985 and Ph.D. in Economics in 1992). [4] [9]

Career

A postdoctoral fellow at Massachusetts Institute of Technology (MIT) from 1992 to 1993, Kremer was a visiting assistant professor at the University of Chicago in Spring 1993, and professor at MIT from 1993 to 1999. From 1999 to 2020, he was a professor at Harvard University. He joined the faculty at the University of Chicago as University Professor in the Kenneth C. Griffin Department of Economics, the College, and the Harris School of Public Policy on September 1, 2020. [4] [5]

Kremer has focused his research on poverty reduction, often as it relates to education economics and health economics. [10] Working with Abhijit Banerjee and Esther Duflo (with whom he shared the 2019 Nobel Memorial Prize in Economics), he helped establish the effectiveness of randomized controlled trials to test proposed antipoverty measures. [11] Describing Kremer’s early use of pioneering experimental methods, Duflo said that Kremer “was there from the very beginning, and took enormous risks . . . . He is a visionary.” [12]

Kremer is a Fellow of the American Academy of Arts and Sciences, [13] a recipient of a MacArthur Fellowship (1997) [14] and a Presidential Faculty Fellowship, and was named a Young Global Leader by the World Economic Forum. [15] He is a research affiliate at Innovations for Poverty Action(IPA), [16] a New Haven, Connecticut-based research outfit dedicated to creating and evaluating solutions to social and international development problems. Kremer is a member of Giving What We Can, an effective altruism organization whose members pledge to give 10% of their income to effective charities. [17] He is founder and president of WorldTeach, a Harvard-based organization which places college students and recent graduates as volunteer teachers on summer and year-long programs in developing countries around the world. He is also co-founder of Precision Agriculture for Development (PAD), a non-profit organization that leverages the global emergence of the mobile phone to provide digital agronomic advisory services to smallholder farmers at scale. [18]

Kremer started the advanced market commitment, which focuses on creating incentive mechanisms to encourage the development of vaccines for use in developing countries, and the use of randomized trials to evaluate interventions in the social sciences. He created the well-known economic theory regarding skill complementarities called Kremer's O-Ring Theory of Economic Development. [19] In 2000, Kremer, along with Charles Morcom, published a study recommending that governments fight elephant poaching by stockpiling ivory and so that they can proactively flood the market if elephant populations decline too severely. [20]

In his widely cited paper "Population Growth and Technological Change: One Million B.C. to 1990", Kremer studied economic change over the last one million years. [21] He found that economic growth increased with population growth.

Kremer led a panel on the reformation of education systems at the International Growth Centre's Growth Week 2010. [22] In early 2021, he was appointed by the G20 to the High Level Independent Panel (HLIP) on financing the global commons for pandemic preparedness and response, co-chaired by Ngozi Okonjo-Iweala, Tharman Shanmugaratnam and Lawrence Summers. [23]

Recognition

Personal life

Kremer is the husband of economist Rachel Glennerster.

Notes

  1. Cf. Nobel Prize biography
  2. "The political economy of education and health in Kenya / a thesis presented by Edward Andrew Miguel". Research Kenya. Archived from the original on September 27, 2016. Retrieved May 3, 2014.
  3. U.S. Public Records Index Vol 1 & 2 (Provo, UT: Ancestry.com Operations, Inc.), 2010.
  4. 1 2 3 4 "Curriculum Vitae (Michael Kremer)" (PDF). University of Chicago. Retrieved November 28, 2020.
  5. 1 2 "Nobel-winning economist Michael Kremer to join UChicago faculty as University Professor | UChicago News" . Retrieved August 25, 2020.
  6. Wearden, Graeme (October 14, 2019). "Nobel Prize in Economics won by Banerjee, Duflo and Kremer". The Guardian. ISSN   0261-3077 . Retrieved October 14, 2019.
  7. "The Prize in Economic Sciences 2019" (PDF) (Press release). Royal Swedish Academy of Sciences. October 14, 2019.
  8. "JEWISH NOBEL PRIZE WINNERS IN ECONOMICS".
  9. Aggarwal-Schifellite, Manisha (October 14, 2019). "Nobel in economic sciences awarded: Michael Kremer wins Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel". The Harvard Gazette.
  10. Wiseman, Paul; Ljubojevic, Aleksandar; LeBlanc, Steve (October 14, 2019). "3 economists who study poverty win Nobel Prize". apnews.com. Associated Press. The three winners, who have worked together, revolutionized developmental economics by pioneering field experiments that generate practical insights into how poor people respond to education, health care and other programs meant to lift them out of poverty.
  11. Cho, Adrian (October 14, 2019). "Economics Nobel honors trio taking an experimental approach to fighting poverty". Science. doi:10.1126/science.aaz7975.
  12. Smialek, Jeanna (October 14, 2019). "Nobel Economics Prize Goes to Pioneers in Reducing Poverty: Three professors, Abhijit Banerjee and Esther Duflo, both of M.I.T., and Michael Kremer of Harvard, were honored". The New York Times.
  13. https://www.amacad.org/person/michael-kremer Retrieved July 25, 2020, Saturday
  14. "MacArthur Foundation". www.macfound.org. Retrieved July 23, 2018.
  15. https://www.weforum.org/agenda/authors/michael-kremer/ Retrieved July 25, 2020, Saturday
  16. https://www.poverty-action.org Retrieved July 25, 2020, Saturday
  17. "Members". www.givingwhatwecan.org.
  18. "PAD". www.precisionag.org.
  19. Kremer, Michael (1993). "The O-Ring Theory of Economic Development". Q. J. Econ. Oxford University Press. 108 (3): 551–575. doi:10.2307/2118400. JSTOR   2118400.
  20. Kremer, Michael; Morcom, Charles (March 2000). "Elephants". American Economic Review. 90 (1): 212–234. doi:10.1257/aer.90.1.212.
  21. Kremer, Michael (1993). "Population Growth and Technological Change: One Million B.C. to 1990". The Quarterly Journal of Economics. 108 (3): 681–716. doi:10.2307/2118405. ISSN   0033-5533. JSTOR   2118405. S2CID   139085606.
  22. "Growth Week 2010 – Summary" (PDF).
  23. Ministry of Economy and FinanceThe G20 establishes a High Level Independent Panel on financing the Global Commons for Pandemic Preparedness and Response Ministry of Economy and Finance, press release of January 27, 2021.
  24. Johnson, Simon; Pollard, Niklas (October 14, 2019). "Trio wins economics Nobel for science-based poverty fight". Reuters.
  25. Agencies. "Trio win Nobel Prize in economics for work on poverty". www.timesofisrael.com. Retrieved August 7, 2020.
  26. Michael Kremer Center for Global Development (CGD).

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