The External Balance Assessment Methodology: 2018 Update
Electronic Access:
Free Download. Use the free Adobe Acrobat Reader to view this PDF file
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. 2019/065
Subject:
Balance of payments Capital controls Current account Current account balance External balance assessment (EBA) External position Foreign exchange Real effective exchange rates
English
Publication Date:
March 19, 2019
ISBN/ISSN:
9781498300933/1018-5941
Stock No:
WPIEA2019065
Pages:
68
Please address any questions about this title to publications@imf.org