Carol is a Professor of Economics at Imperial College Business School in the Organisation & Management Group.
Carol's research interests focus on the impact of incentives on the quality of health care delivery and health system productivity and, more widely, on the design and consequences of incentives within the public sector and the boundary between the state and private markets.
She was Senior Economic Advisor to NHS Executive on Regulation of the NHS Internal Market 1993-4, Co-Director of the Centre for the Analysis of Social Exclusion at London School of Economics between 1997-2007, Co-Director and Director of the Centre for Market and Public Organisation between1998-2009. She has undertaken a wide range of public service activities including the Chair of the ESRC research grants board 2005-2009 and a member of the ESRC Council.
In 2010 Carol was awarded a CBE for her services to social science. The accolade recognises Carol’s research into public economics and economics of health care as well as her work with colleagues from other social science and medical disciplines. In 2014 she was elected as a fellow of the British Academy.
Her research has been published in a wide number of leading economics journals. In 2010 Carol and co-author John Van Reenan were awarded the International Health Economics Association Arrow Award for the best paper in health economics worldwide for their paper "Can Pay Regulation Kill?" JPE 118(21):222-273. In 2016 Carol and co-authors Martin Gaynor and Rodrigo Moreno-Serra were awarded the American Economic Association Prize for the best paper published in the American Economic Journal: Economic Policy in 2012-15. In 2017 she and co-authors Martin Gaynor and Stephan Seiler were awarded the International Health Economics Association Arrow Award for the best paper in health economics worldwide.