{
  "title": "Exchange Rate Assessments: Methodologies for Oil Exporting Countries",
  "publication": "IMF Working Papers, December 1, 2009",
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  "summary": "Are the current account fluctuations in oil-exporting countries \"excessive\"? How should their real exchange rate respond to the evolution of external (and domestic) fundamentals?",
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    {
      "heading": "Overview and Purpose",
      "content": "- Authors: Irineu E de Carvalho Filho, Rudolfs Bems\n- Publication date: December 1, 2009\n- Objective: Develop methodologies tailored to oil-exporting countries to assess whether current account fluctuations are \"excessive\" and how the real exchange rate should respond to external and domestic fundamentals."
    },
    {
      "heading": "Key Findings",
      "content": "- Price-based methodologies (based on the time series of real effective exchange rates):\n  - Identify a strong link between the real exchange rate and the terms of trade.\n  - Have relatively limited explanatory power.\n- Empirical model of the current account:\n  - Fits oil-exporting countries' data well.\n  - Provides a useful benchmark for assessing external balances.\n- Intertemporal model incorporating the stock of oil reserves:\n  - Provides useful benchmarks for oil exporters' external balances."
    },
    {
      "heading": "Subject Areas and Keywords",
      "content": "- Subject: Current account, Current account balance, Oil, Personal income, Real exchange rates\n- Keywords: growth rate, oil exporter, oil-exporting country, terms of trade, WP\n\n---\n\n Content in this bundle\n\n- wp09281\n  - wp09281 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - wp09281 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/31/exchange-rate-assessments-methodologies-for-oil-exporting-countries-23463"
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    "Authors: Irineu E de Carvalho Filho, Rudolfs Bems",
    "Published: December 1, 2009",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781451874266.001",
    "Authors: Irineu E de Carvalho Filho, Rudolfs Bems",
    "Publication date: December 1, 2009",
    "Objective: Develop methodologies tailored to oil-exporting countries to assess whether current account fluctuations are \"excessive\" and how the real exchange rate should respond to external and domestic fundamentals.",
    "Price-based methodologies (based on the time series of real effective exchange rates):",
    "Empirical model of the current account:",
    "Intertemporal model incorporating the stock of oil reserves:",
    "Subject: Current account, Current account balance, Oil, Personal income, Real exchange rates",
    "Keywords: growth rate, oil exporter, oil-exporting country, terms of trade, WP",
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