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This box provides a model-based analysis of the impact of discretionary fiscal policy measures on economic growth and inflation since the start of the COVID-19 pandemic, as reflected in the March 2025 ECB staff macroeconomic projections for the euro area. Fiscal policy lent substantial support to the euro area economy in response to the pandemic and the energy crisis, while adding to public deficits and debt.
The 2024 arrest and subsequent release of activist Paul Watson, the founder of the NGO Sea Shepherd that fights to protect ocean
The money to support well-paid American jobs exists—it’s just being hoarded at the top. Economist William Lazonick argues that this is not just unfair; it’s a failure of the whole economic system.
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The Bank's Court of Directors acts as a unitary board, setting the organisation's strategy and budget and taking key decisions on resourcing and appointments. Required to meet a minimum seven times per year, it has five executive members from the Bank and up to nine non-executive members.
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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.
Recent months have seen a dramatic shift in US policies on diversity, equity, and inclusion (DEI). These changes carry deep economic consequences. President Donald Trump’s executive orders aim to ban DEI initiatives in federal agencies and contractors, and private companies have felt pressure to weaken or drop their DEI programmes. Trump has framed what was once a corporate safeguard against discrimination as “illegal and immoral”, marking a stark reversal in legal and business norms.
In recent years, the US has experienced high growth in the online gambling market, and the majority of states in the US have legalized online casino platforms to attain more potential financial gains for the country. The favourable gambling atmosphere of the US highly assists gambling developers to enter the market without any fear, and they ... Read more
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
