The External Balance Assessment Methodology: 2018 Update
Luis M. Cubeddu,
Pau Rabanal (),
Mai Chi Dao,
Swarnali A Hannan,
Carolina Osorio Buitron,
Callum Jones (),
Kyun Suk Chang,
Zijiao Wang and
No 19/65, IMF Working Papers from International Monetary Fund
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.
Keywords: External sector; Current account balances; Terms of trade; Current account surpluses; Current account deficits; current account,exchange rates,external sustainability,global imbalances.,Eba,capital control,output gap,institutional quality,OAD (search for similar items in EconPapers)
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