Who Is Michael Kremer?
Michael Robert Kremer is an American economist known for his work on global poverty and development. He helped bring field experiments, including randomized controlled trials, into development economics.
In 2019, Kremer shared the Nobel Prize in Economic Sciences with Abhijit Banerjee and Esther Duflo. They received the prize for their experimental approach to fighting global poverty.
Kremer was born on November 12, 1964, in New York City. He earned his Ph.D. in economics from Harvard University in 1992.
Early Life and Education
Kremer grew up in Kansas after his family moved there. His mother was a professor of literature. He later studied at Harvard University, where he earned his degree and then completed a Ph.D. in economics.
After finishing his studies, he worked at MIT and later joined Harvard. He became the Gates Professor of Developing Societies at Harvard, a role he held from 2003 to 2020.
Career and Research
Kremer is best known for studying simple ways to improve life in developing countries. His work covers education, health, water, farming, finance, and innovation.
In the 1990s, he and other researchers carried out field experiments in western Kenya. They tested different ways to improve education and child health. One important study looked at deworming medicine for schoolchildren. The research found that the treatment reduced school absences by about one-quarter.
This work helped show how careful experiments can test which programs really work. It became an important part of modern development economics.
Nobel Prize
In 2019, Michael Kremer shared the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel with Abhijit Banerjee and Esther Duflo.
The Nobel committee honored them for their experimental approach to alleviating global poverty. Their research broke large problems into smaller questions and tested possible solutions through field experiments.
Vaccine Research
Kremer also worked on Advance Market Commitments, or AMCs. These agreements can encourage companies to develop vaccines for diseases that affect poorer countries.
With Rachel Glennerster, he helped develop the idea of an AMC for vaccines. A $1.5 billion pneumococcal vaccine program was later launched with Gavi, the World Bank Group, governments, and the Bill & Melinda Gates Foundation. The vaccines have reached 60 developing countries.
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Awards and Recognition
Kremer has received several major honors. These include the 2019 Nobel Prize in Economic Sciences, a 1997 MacArthur Fellowship, membership in the National Academy of Sciences, and fellowship in the American Academy of Arts and Sciences.
Personal Life
Michael Kremer is married to Rachel Glennerster, a development economist. The two have worked together on research, including work on vaccine programs.
Reliable public information does not clearly confirm whether they have children.
Michael Kremer’s Net Worth
There is no reliable public source that confirms Michael Kremer’s personal net worth. His financial details are not publicly established, so online estimates should be treated with caution.
Michael Kremer’s World Bank Role in 2026
On September 16, 2026, the World Bank Group announced that Michael Kremer had been appointed Chief Economist and Senior Vice President for Development Economics. His appointment takes effect on October 1, 2026. He will lead the World Bank’s research, data, and analysis work on global development.
Kremer’s current research includes education, health, water, finance, agriculture, and new technology. His work has also helped support programs that reach millions of people in developing countries.
How old is Michael Kremer?
Michael Kremer is 61 years old as of September 2026. He was born on November 12, 1964.
Why did Michael Kremer win the Nobel Prize?
He shared the 2019 Nobel Prize in Economic Sciences for an experimental approach to fighting global poverty.
What is Michael Kremer known for?
He is known for field experiments in development economics, his research on deworming in Kenya, and his work on vaccine programs.
Where does Michael Kremer work?
He is a University Professor at the University of Chicago and directs its Development Innovation Lab. From October 1, 2026, he is set to serve as the World Bank Group’s Chief Economist.
Sources
Nobel laureate Michael Kremer has joined the World Bank …
Nobel laureate Michael Kremer joins World Bank as Group …
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