Theoretical analyses of (optimal) performance measures are typically performed within therealm of the linear agency model. This model implies that, for a given compensation scheme,the agent's optimal effort is unrelated to the amount of noise in the performance measure...

Trust is a concept that has attracted - significant attention in economic theory and research within the last two decades: it has been applied in a number of contexts and has been investigated both as an explanatory and as a dependent variable. In this paper, we explore the questions of what...

We (a) propose an implementable innovation index, (b) relate it to existing innovation definitions and (c) show whole-economy and industry-specific results for the UK market sector, 2000-2005. Our innovation measure starts by observing that we could get more GDP without innovation by simply...

We argue that using wage data alone, it is virtually impossible to identify whether Assortative Matching between worker and firm types is positive or negative. In standard competitive matching models the wages are determined by the marginal contribution of a worker, and the marginal contribution...

The accumulation of the human capital stock plays a key role to explain the macroeconomic performance across regions. However, despite the strong theoretical support for this claim, empirical evidence has been not very convincing, probably because of the low quality of the data. This paper...

Vaccination represents a canonical example of externalities in economics, yet there are few estimates of their magnitudes. I estimate social and externality benefits of influenza vaccination in two settings. First, using a natural experiment, I estimate the impacts of aggregate vaccination rates...