This paper investigates the role of mortgage refinancing in shaping the estimates of marginal propensity to consume (MPC) and its implications for fiscal policy. Using U.S. household data, we find that MPCs decrease during the year of mortgage refinancing and stabilize afterwards, particularly among households with lower liquid assets, higher debtto-income ratios, and valuable illiquid assets. The empirical evidence suggests that refinancing provides extra liquidity, reducing MPCs.

The world of online gambling has witnessed remarkable innovation over the past decade, with mobile technology playing a pivotal role in reshaping how players interact with online casinos. Among the most convenient and secure payment methods gaining traction are pay by phone online casinos.  This approach allows players to fund their casino accounts effortlessly using ... Read more

The Money Markets Committee is a forum for market participants and authorities to discuss the UK unsecured deposits and funding market and securities lending and repo markets.

Gone are the days when players prioritized luck games over skill. Though online casinos have undergone significant changes with the advanced technologies and development in the last decade, one notable growth is the rise of skill-based games, where players can exhibit their strategies and skills at casino games rather than relying on mere luck. Skill-based ... Read more