Marc Hafstead

Fellow; Director, Carbon Pricing Initiative; Director, Climate Finance and Financial Risk Initiative

Marc Hafstead joined RFF in 2013 from Stanford University. He is an RFF fellow and director of the Carbon Pricing Initiative and the Climate Finance and Financial Risk Initiative. His research has primarily focused on the evaluation and design of federal and state-level climate and energy policies using sophisticated multi-sector models of the US economy. With Stanford Professor and RFF University Fellow Lawrence H. Goulder, he wrote Confronting the Climate Challenge: US Policy Options (Columbia University Press) to evaluate the environmental and economic impacts of federal carbon taxes, cap-and-trade programs, clean energy standards, and gasoline. His research has also analyzed the distributional and employment impacts of carbon pricing and the design of tax adjustment mechanisms to reduce the emissions uncertainty of carbon tax policies. His paper “Impacts of a Carbon Tax across U.S. Household Income Groups: What Are the Equity-Efficiency Trade-Offs?” (with Larry Goulder, GyuRim Kim, and Xianling Long) won the Journal of Public Economics 2021 Atkinson Award for best paper published in the journal between 2018 and 2020. Hafstead has been cited in the popular press, including the Wall Street Journal, the Washington Post, Axios, and CNNMoney.


  • PhD in Economics, Stanford University, 2011
  • BA in Mathematical Methods in the Social Sciences & Economics, Northwestern University, 2004

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