Current account imbalances are back at the centre of global policy debates, as persistent surpluses and deficits interact with trade tensions and external vulnerabilities. This blog shows that imbalances mainly reflect differences in saving behaviour, and that reducing them will require tailored domestic reforms in both deficit and surplus economies.

By Erik Frohm, John Hooley, Fatih Ozturk, Łukasz Rawdanowicz and Nivetha Sivakumar, OECD Economics Department

The escalation of conflict in the Middle East caused a spike in commodity prices that quickly fed into higher global inflation. A recent moderation in commodity prices has caused some subsequent easing in consumer price inflation in many economies. These dynamics are well captured by high-frequency daily price indicators using web-scraping software.

By Patrice Ollivaud and Ben Westmore, OECD Economics Department

The prevalence of non-compete clauses is surprisingly high, with adverse consequences for economic dynamism, wages and productivity. This brings into closer focus recent attempts to restrict the use of such clauses in some OECD countries.

By Dan Andrews, Andrea Garnero and Sara Holttinen

Italy’s ageing population is shrinking the workforce, yet many young people still struggle to enter stable employment. Helping young people succeed at school and work is now essential for the country’s long-term growth.

by Emilia Soldani and Tim Bulman, OECD Economics Department

Versione italiana

L’invecchiamento demografico riduce la forza lavoro, eppure molti giovani continuano a incontrare difficoltà nell’accedere a un’occupazione stabile. Aiutarli ad avere successo nel percorso scolastico e nel mondo del lavoro è oggi fondamentale per la crescita di lungo periodo del Paese.

di Emilia Soldani and Tim Bulman, OECD Economics Department

English version

Estonia is entering a new phase of digital transformation, seeking to turn its world-leading digital government and strong ICT sector into broader productivity gains across the economy. Artificial intelligence offers major opportunities, but realising its potential will require wider adoption by businesses, stronger skills, and continued innovation in the public sector.

By Zuzana Smidova, OECD Economics Department

Norway remains highly prosperous and egalitarian, but modest growth and sovereign wealth fund risks underscore a need for fiscal and structural reform.

By Hansjörg Blöchliger, OECD Economics Department

The Middle East conflict has disrupted more than just energy exports. With the flow of goods through the Strait of Hormuz slowing to a mere trickle, the world’s supply chains, from fertilisers to chemicals, have been under strain, pushing up prices and weighing on global growth.

by Christine Arriola, Seung-Hee Koh, Catherine MacLeod, OECD Economics Department