Michael Greenstone is the Milton Friedman Distinguished Service Professor in Economics, the College and the Harris School, as well as the Director of the Becker Friedman Institute and the interdisciplinary Energy Policy Institute at the University of Chicago. He previously served as the Chief Economist for President Obama’s Council of Economic Advisers, where he co-led the development of the United States Government’s social cost of carbon. Greenstone also directed The Hamilton Project, which studies policies to promote economic growth, and has since joined its Advisory Council. He is an elected member of the American Academy of Arts and Sciences, a fellow of the Econometric Society, and a former editor of the Journal of Political Economy. Before coming to the University of Chicago, Greenstone was the 3M Professor of Environmental Economics at MIT.

Greenstone’s research, which has influenced policy globally, is largely focused on uncovering the benefits and costs of environmental quality and society’s energy choices. His current work is particularly focused on testing innovative ways to increase energy access and improve the efficiency of environmental regulations around the world. Additionally, he is producing empirically grounded estimates of the local and global impacts of climate change as a co-director of the Climate Impact Lab. He also created the Air Quality Life Index that provides a measure of the gain in life expectancy communities would experience if their particulates air pollution concentrations are brought into compliance with global or national standards.

Greenstone received a Ph.D. in economics from Princeton University and a BA in economics with High Honors from Swarthmore College.

 

PODCAST: Michael Greenstone On Environmental Economics … And Basketball

Areas of Focus: Social Cost of Carbon
Definition
Social Cost of Carbon
The social cost of carbon is an essential tool for incorporating the cost of climate change into policy-making, corporate planning and investment decisionmaking in the United States and around the...
Climate Impact Lab
Definition
Climate Impact Lab
Climate change is already altering lives every day. The Climate Impact Lab is building the world’s most comprehensive body of research quantifying the impacts of climate change sector-by-sector, community-by-community, around...
AQLI
Definition
AQLI
Particulate air pollution is one of the most serious risks to human health globally. To help communicate those risks, the Air Quality Life Index (AQLI) converts particulate air pollution into...
E&E Lab
Definition
E&E Lab
The Energy & Environment Lab partners with civic and community leaders to identify, rigorously evaluate, and help scale programs and policies to improve the environment and ensure access to reliable...
Hydraulic Fracturing
Definition
Hydraulic Fracturing
Hydraulic fracturing is perhaps the most important innovation in the energy system in the last half century, but nearby communities are concerned about its potential effects on water quality, public...
Energy Efficiency
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Energy Efficiency
Improving energy efficiency is lauded as a promising way reduce emissions and lower energy costs. Yet, a robust body of research demonstrates that not all efficiency investments deliver. EPIC faculty...
Energy Markets
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Energy Markets
Well-functioning markets are essential for providing access to reliable, affordable energy. EPIC research is uncovering the policies, prices and information needed to help energy markets work efficiently.
Fossil Fuels
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Fossil Fuels
Under current policies, fossil fuels will play an important role in the energy system for the foreseeable future. EPIC research is exploring the costs and benefits of these fuels as...
Renewable Energy
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Renewable Energy
Lower technology costs and supportive public policies are driving an increase in renewable energy in markets around the world. EPIC research is assessing the costs, benefits, and efficiency of policies...
Climate Change
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Climate Change
Climate change is an urgent global challenge. EPIC research is helping to assess its impacts, quantify its costs, and identify an efficient set of policies to reduce emissions and adapt...
Climate Economics
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Climate Economics
Climate change will affect every sector of the economy, both locally and globally. EPIC research is quantifying these effects to help guide policymakers, businesses, and individuals working to mitigate and...
Climate Law & Policy
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Climate Law & Policy
As countries around the world implement policies to confront climate change, EPIC research is calculating which policies will have the most impact for the least cost.
Environment
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Environment
Producing and using energy damages people’s health and the environment. EPIC research is quantifying the social costs of energy choices and uncovering policies that help protect health while facilitating growth.
Air Pollution
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Air Pollution
Air pollution from fossil fuel combustion poses a grave threat to human health worldwide. EPIC research is using real-world data to calculate the effects of air pollution on human health...
Environmental Health
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Environmental Health
Energy and industrial processes introduce toxins into the environment. EPIC research is helping to educate policymakers and consumers on the social and economic costs of this pollution, and the potential...
EPIC-China
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EPIC-China
China is indisputably critical to addressing the global energy challenge. China is one of the world’s biggest economies, its top carbon emitter, and among its most polluted countries. Yet, China...
EPIC-India
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EPIC-India
As the world’s fastest-growing carbon emitter and second most-polluted country, India is central to the global energy challenge. EPIC’s robust team in India works hand-in-hand with government leaders to implement...