## Exchange Rate Assessments: Methodologies for Oil Exporting Countries

_IMF Working Papers, December 1, 2009_

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## Bibliographic details
- Authors: Irineu E de Carvalho Filho, Rudolfs Bems
- Published: December 1, 2009
- Series: IMF Working Papers
- DOI: https://doi.org/10.5089/9781451874266.001

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### Overview and Purpose
- 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.

### Key Findings
- Price-based methodologies (based on the time series of real effective exchange rates):
  - Identify a strong link between the real exchange rate and the terms of trade.
  - Have relatively limited explanatory power.
- Empirical model of the current account:
  - Fits oil-exporting countries' data well.
  - Provides a useful benchmark for assessing external balances.
- Intertemporal model incorporating the stock of oil reserves:
  - Provides useful benchmarks for oil exporters' external balances.

### Subject Areas and Keywords
- 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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_Source: https://www.imf.org/en/publications/wp/issues/2016/12/31/exchange-rate-assessments-methodologies-for-oil-exporting-countries-23463_