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Defence spending: Economic gains or lasting fiscal challenges?

Rising defence spending may lift economic activity modestly in the short term, but it brings additional fiscal strain while effects on long-run growth are uncertain. Lasting economic benefits are more likely if governments improve procurement and pursue broader structural reforms alongside rearmament.

By Ben Congrave and Young-Hyun Shin, OECD Economics Department

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Business people strolling around Vienna

Austria: Restoring the public finances in the face of ageing

Austria enjoys high living standards, strong institutions and a highly skilled workforce. But the economy was hit hard by the energy price shocks following Russia’s war of aggression against Ukraine. After a strong rebound from the pandemic, activity slowed sharply in 2023–24, leading to a prolonged recession and a sizeable fiscal deficit that stood at 4.5% of GDP in 2025.

By Falilou Fall, OECD Economics Department

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The investor base for sovereign debt: Recent developments and potential implications

Long-term sovereign bond yields have risen as fiscal pressures mount and central banks step back from bond markets. With private investors playing a larger role, borrowing costs may remain higher and markets may become more volatile, raising important questions for debt management and financial stability.

By Masatoshi Ando, Ben Conigrave, Álvaro Pina and Caroline Roulet, OECD Economics Department.

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Aprovechar el talento del Perú convirtiendo educación en movilidad social

La población joven del Perú tiene un gran potencial, pero una parte importante sigue sin aprovecharse. La movilidad intergeneracional ha mejorado en educación, pero sigue siendo débil en ingresos. Esta desconexión explica por qué una población joven y cada vez más educada no se ha traducido en un mayor crecimiento de la productividad ni en oportunidades económicas más amplias.
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Wired for power: The energy behind the AI revolution

Artificial intelligence is fast becoming a defining driver of electricity demand in Europe. As AI deployment accelerates, the key constraint is shifting from computing power to the capacity of electricity grids to absorb large, continuous and localised loads. This blog examines how updating and modernising grid planning, connection rules and energy regulation are emerging as important enablers of AI’s future in the EU.
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Why Regulating Lobbying Matters for Competition: New Insights from the OECD PMR Indicators

By Cristiana Vitale, OECD Economics Department. Effective competition is central to vibrant economies. It keeps prices low for consumers, encourages… Read More »Why Regulating Lobbying Matters for Competition: New Insights from the OECD PMR Indicators

Estancados a los 52? Repensar el subsidio de desempleo para las personas mayores en España

Por Aida Caldera, Claudia Ramírez y Dimitris Mavridis, Departamento de Economía de la OCDE Versión en inglés El mercado laboral… Read More »Estancados a los 52? Repensar el subsidio de desempleo para las personas mayores en España

Stuck at 52? Rethinking unemployment assistance for older jobseekers in Spain

By Aida Caldera, Claudia Ramírez and Dimitris Mavridis, OECD Economics Department Spanish Version Spain’s labour market has undergone a strong… Read More »Stuck at 52? Rethinking unemployment assistance for older jobseekers in Spain

How the Lucky Country Can Stay That Way: Improving Productivity Growth, Housing Affordability and Fiscal Sustainability in Australia

Australia is often called the “Lucky Country,” but maintaining high living standards will require reforms to lift productivity growth, restore housing affordability, and strengthen fiscal sustainability. Drawing on the OECD Economic Survey of Australia 2026, this blog highlights key priorities—from boosting competition and business dynamism to easing housing supply constraints and improving the tax mix—while keeping long-term resilience and climate risks in view.
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Stablecoins on the rise: A risk for financial stability? 

By Caroline Roulet, OECD Economics Department. Stablecoins are a type of crypto-asset designed to maintain a stable value by anchoring… Read More »Stablecoins on the rise: A risk for financial stability?