This paper describes the methodology for a new World Bank Human Capital Index (HCI). The HCI combines indicators of health and education into a measure of the human capital that a child born today can expect to obtain by her 18th birthday, given the risks of poor education and health that...

Simple welfare indices such as mean income are ubiquitous but not distribution sensitive. In contrast, existing distribution sensitive welfare indices are rarely used, often because they are difficult to explain and/or lack intuitive units. This paper proposes a simple new distribution sensitive...

This paper summarizes the methodology of the Worldwide Governance Indicators (WGI) project, and related analytical issues. The WGI cover over 200 countries and territories, measuring six dimensions of governance starting in 1996: Voice and Accountability, Political Stability and Absence of...

We use machine-learning methods to study the features and origins of the Baconian program, a cultural and methodological paradigm viewed as providing the intellectual roots for modern economic growth. After building a machine-readable corpus of Bacon's works, we estimate a structural topic...

Internalizing market transactions has been seen by New Institutional Economics (NIE) as a means of over-coming transaction costs. Several specific theories have been put forward as to how the presence of such costs (variously defined), or other institutional factors, motivates firms to...

Essay 1 investigates an empirical link between institutional variables and the performance of firms based on cross-country firm-level survey data. Current empirical evidence based on this type of data is unsatisfactory because employing survey responses as direct measures of institutional...

This thesis consists of three chapters on the choice of institutional governance. The first chapter provides empirical evidence on the effect of local norms on the contractual choice, using a comprehensive dataset on US agricultural leasing contracts. We focus on the choice between cash-rent and...

The first half of the dissertation studies how conditional lending by International Financial Institutions (IFIs) affects the implementation of economic reforms. In the presence of asymmetric information about the outcome of a structural reform between an opportunistic agenda-setter government...