The External Balance Assessment Methodology: 2018 Update

Author/Editor:

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

Publication Date:

March 19, 2019

Electronic Access:

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Disclaimer: IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

Summary:

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.

Series:

Working Paper No. 19/65

Subject:

Notes:

Appendix for WP/19/65

English

Publication Date:

March 19, 2019

ISBN/ISSN:

9781498300933/1018-5941

Stock No:

WPIEA2019065

Price:

$18.00 (Academic Rate:$18.00)

Format:

Paper

Pages:

68

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