IDEAS home Printed from https://ideas.repec.org/p/imf/imfwpa/2019-065.html
   My bibliography  Save this paper

The External Balance Assessment Methodology: 2018 Update

Author

Listed:
  • Luis M. Cubeddu
  • Signe Krogstrup
  • Gustavo Adler
  • Pau Rabanal
  • Mai Chi Dao
  • Swarnali A Hannan
  • Luciana Juvenal
  • Carolina Osorio Buitron
  • Cyril Rebillard
  • Daniel Garcia-Macia
  • Callum Jones
  • Jair Rodriguez
  • Kyun Suk Chang
  • Deepali Gautam
  • Zijiao Wang
  • Nan Li

Abstract

The assessment of external positions and exchange rates is a key mandate of the IMF. This paper presents the updated External Balance Assessment (EBA) framework—a key input in the conduct of multilaterally-consistent external sector assessments of 49 advanced and emerging market economies—following the two rounds of refinements adopted since the framework was introduced in 2012 (as described in Phillips et al., 2013). It also presents new complementary tools for shedding light on the role of structural factors in explaining external imbalances and assessing potential biases in the measurement of external positions. Remaining challenges and areas of future work are also discussed.

Suggested Citation

  • Luis M. Cubeddu & Signe Krogstrup & Gustavo Adler & Pau Rabanal & Mai Chi Dao & Swarnali A Hannan & Luciana Juvenal & Carolina Osorio Buitron & Cyril Rebillard & Daniel Garcia-Macia & Callum Jones & J, 2019. "The External Balance Assessment Methodology: 2018 Update," IMF Working Papers 2019/065, International Monetary Fund.
  • Handle: RePEc:imf:imfwpa:2019/065
    as

    Download full text from publisher

    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=46643
    Download Restriction: no

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Claire Giordano, 2019. "How frequent a BEER? Assessing the impact of data frequency on real exchange rate misalignment estimation," Questioni di Economia e Finanza (Occasional Papers) 522, Bank of Italy, Economic Research and International Relations Area.
    2. Rui Mano & Carolina Osorio Buitron & Luca A Ricci & Mauricio Vargas, 2019. "The Level REER model in the External Balance Assessment (EBA) Methodology," IMF Working Papers 19/192, International Monetary Fund.
    3. Kathryn M. E. Dominguez, 2020. "Revisiting Exchange Rate Rules," IMF Economic Review, Palgrave Macmillan;International Monetary Fund, vol. 68(3), pages 693-719, September.
    4. Miriam Koomen & Laurence Wicht, 2020. "Demographics, pension systems, and the current account: an empirical assessment using the IMF current account model," Working Papers 2020-23, Swiss National Bank.
    5. Gustavo Adler & Daniel Garcia-Macia & Signe Krogstrup, 2019. "The Measurement of External Accounts," IMF Working Papers 19/132, International Monetary Fund.
    6. Claire Giordano, 2020. "An update of the Bank of Italy methodology underlying the estimation of price-competitiveness misalignments," Questioni di Economia e Finanza (Occasional Papers) 556, Bank of Italy, Economic Research and International Relations Area.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:imf:imfwpa:2019/065. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Jim Beardow) or (Hassan Zaidi) The email address of this maintainer does not seem to be valid anymore. Please ask Hassan Zaidi to update the entry or send us the correct email address. General contact details of provider: http://edirc.repec.org/data/imfffus.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.