Governments around the world are clamouring to engage the private sector in order to build infrastructure and deliver public services. However, the role of the state in managing new relationships with companies is often murky. Is the government a slow and wasteful bureaucracy that must be held...

A general approach for calibrating Monte Carlo models to the market prices of benchmark securities is presented. Starting from a given model for market dynamics (price diffusion, rate diffusion, etc.), the algorithm corrects price-misspecifications and finite-sample effects in the simulation by...

In most cases, policy scholars interested in the role of policy analysts in promoting and practicing evidence-based policy-making rely on very partial survey results, or on anecdotal case studies and interview research. Despite the existence of a large body of literature on policy analysis,...

Purpose – The “two communities” metaphor for the relationship between policy and academia is inconsistent with empirical evidence that shows that a sizeable minority of public servants use academic research in their policy-related work. The purpose of this paper is to investigate the two...