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Methods for identifying relevant policy impacts for valuation in benefit-cost analyses (BCAs) have received relatively little attention in academic research, applied policy analyses, and guidance documents. In this paper, we develop a systematic, transparent, and replicable process that draws upon information contained in records of Congressional hearings to identify relevant policy impacts for valuation in a BCA. Our approach involves classifying – and subsequently analyzing – statements from witnesses testifying in Congressional hearings on the topic of the BCA. By using Congressional hearings as the basis for our approach, we are identifying potential policy impacts from information provided during the very process the BCA is intended to inform. However, because this approach is quite resource-intensive and would be somewhat burdensome for agencies to implement, it may be best applied in the academic realm, with identified impacts resulting from such applications then made available to agency personnel for potential inclusion in BCAs. Using the case of the Glen Canyon Dam, we demonstrate the approach and its resulting improvements in the quality and transparency of the BCA it was intended to inform.

This paper attempts to quantify the employment and income effects of the Glasgow Eastern Area Renewal (GEAR) programme on its target area. This is done using an augmented Keynesian multiplier approach. The multiplier model is adjusted to take into account the particular characteristics of the injection and the fact that the target area is small and well-integrated within a large conurbation. The results are disaggregated so that the impact of each element of the programme is separately-identified, and the overall results are subject to sensitivity analysis. Although the estimated increases in employment and income are large in absolute terms, they are small relative to the decline that immediately preceded the introduction of the GEAR programme.

Policy analysts & politicians have in recent years shown great interest in assessing both short- & long-term consequences of public policies. Recent time-trend studies have attempted to depict the time dimension of policy consequences through extensions of regression techniques. Three linear trend models that have been used to depict policy impact through time-series analyses are critically examined. In a quasi-experimental time-series design, the models are applied to time-series of per capita state expenditures for large cities, in 8 states, over a 20-year period. Differences in degrees of multicollinearity & autocorrelation inherent in the three models are discussed, & the model providing the most conservative coefficient estimates is identified. 5 Tables, 3 Models. Modified HA.

Background:Studies of the policy impact of entrepreneurship research are largely based on linear, instrumental conceptions of impact and have tended to ignore the complex, political and relational nature of the research-policy nexus, resulting in misrepresentation and understatement of the policy impact of this relatively recent field of research.

Methods:Review of relevant literature and policy documents.

Aims and objectives:We reassess the relationship between entrepreneurship research and selected policies in the UK since the early1980s and we identify the potential for research to influence policy, drawing on the extensive and growing policy impact literature that has not to date focused on the entrepreneurship domain.

Findings:The impact of research on policy occurs through complex mechanisms operating in multiple spatial, temporal and other contexts. The primary contribution of this paper is to highlight the potential significance for this policy field of conceptual and enlightenment impacts over the long term. Significantly, we suggest that some research that was not explicitly driven by policy concerns – and which challenged existing orthodoxy – had some influence on UK entrepreneurship policy developments over the 1980–2020 period.

Discussion and conclusions:We call for focused research to improve our understanding of the entrepreneurship research-policy nexus in different contexts and we advocate for the development of ecosystems that enable stakeholders to address the creative tension between 'rigour' and 'relevance' in business and policy research.