Open finance enables the sharing of, and access to, financial sector data. This paper analyses the benefits, risks and implementation challenges of Open finance and provides policy recommendations for the safe and successful implementation of such data-sharing frameworks in finance. It considers...

Ukraine has recently experienced a significant economic downturn as a result of the COVID-19 pandemic and the war caused by a large-scale military aggression of the Russian Federation. In conditions of the constant fluctuations of the national economy, the stimulating effect of the budgetary...

We investigate the causal effect of government spending on real output conditional on economic freedom. Using data for 161 countries from 2000 to 2019 results show, first, that the size of the fiscal multiplier is inversely related to the level of freedom and, second, countries with the mean...

Announcing a large fiscal stimulus may signal the government’s pessimism about the severity of a recession to the private sector, impairing the stabilizing effects of the policy. Using a theoretical model, we show that these signaling effects occur when the stimulus exceeds expectations and...