One of the acknowledged limitations of British welfare-to-work policies has been that they do not necessarily succeed in assisting people with multiple problems and needs. This article will first examine conflicting aspects of welfare-to-work policies and the conflict between welfare-to-work and...

There are three key types of political risk facing state and personal pension schemes: those induced by demographic, economic and pure political considerations. The state scheme in the UK has been susceptible to all three types of political risk with the result that the annual real internal rate...

This paper examines the financial system prerequisites needed for the successful delivery of funded private pensions. In particular, it examines the financial instruments and investment strategies required during both the accumulation and decumulation stages. It does so within the context of a...

The rise of the 'regulatory state' (Majone, 1994; Loughlin and Scott, 1997; Moran, 2001) has not been limited to regulation of the privatised sector, or even of the private sector more generally. There is now a considerable 'regulatory state within the state' (Hood et al, 1999), and it seems to be...

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The Basel Committee on Banking Supervision is proposing to introduce, in 2006, new risk-based requirements for internationally active (and other significant) banks. These will replace the relatively risk-invariant requirements in the current Accord. This article examines the implications of this...

It has been suggested (Morris, Shin 2001) that co-ordination failure between holders of debt can affect the price of debt. In essence, fear of premature foreclosure by other debtors can lead to preemptive action, affecting the value of debt. Using a continuous-time framework related to a Merton...