{
  "title": "2022 Update of the External Balance Assessment Methodology",
  "publication": "IMF Working Papers, March 3, 2023",
  "sourceUrl": "https://www.imf.org/en/publications/wp/issues/2023/03/02/2022-update-of-the-external-balance-assessment-methodology-530509",
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  "summary": "The assessment of external positions and exchange rates of member countries is a key mandate of the IMF. The External Balance Assessment (EBA) methodology has provided the framework for conducting external sector assessments by Fund staff since its introduction in 2012.",
  "sections": [
    {
      "heading": "Overview",
      "content": "- The External Balance Assessment (EBA) methodology provides the framework for conducting external sector assessments by Fund staff since its introduction in 2012.\n- This paper provides the latest version of the EBA methodology, updated in 2022.\n- The paper includes an assessment of how estimated current account gaps based on EBA are associated with future external adjustment."
    },
    {
      "heading": "Key updates and refinements",
      "content": "- Additional refinements to the current account regression models.\n- Additional refinements to the real exchange rate regression models.\n- Updated estimates for other components of the EBA methodology."
    },
    {
      "heading": "Major themes and subject coverage",
      "content": "- Balance of payments\n- Current account; Current account balance; Current accounts\n- External balance assessment (EBA); External position; External sustainability\n- Foreign exchange; Real effective exchange rates; Real exchange rates\n- Associated factors and keywords: global imbalances, labor market rigidity, OECD product market, EBA gaps adjustment, EBA current account model, EBA REER, exchange rates, external sector assessments"
    },
    {
      "heading": "Authors and publication",
      "content": "- By Cian Allen, Camila Casas, Giovanni Ganelli, Luciana Juvenal, Daniel Leigh, Pau Rabanal, Cyril Rebillard, Jair Rodriguez, João Tovar Jalles\n- March 3, 2023\n\n---\n\n Content in this bundle\n\n- Working Paper\n  - Working Paper (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Working Paper (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2023/03/02/2022-update-of-the-external-balance-assessment-methodology-530509"
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    "Authors: Cian Allen, Camila Casas, Giovanni Ganelli, Luciana Juvenal, Daniel Leigh, Pau Rabanal, Cyril Rebillard, Jair Rodriguez, João Tovar Jalles",
    "Published: March 3, 2023",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9798400234934.001",
    "The External Balance Assessment (EBA) methodology provides the framework for conducting external sector assessments by Fund staff since its introduction in 2012.",
    "This paper provides the latest version of the EBA methodology, updated in 2022.",
    "The paper includes an assessment of how estimated current account gaps based on EBA are associated with future external adjustment.",
    "Additional refinements to the current account regression models.",
    "Additional refinements to the real exchange rate regression models.",
    "Updated estimates for other components of the EBA methodology.",
    "Balance of payments",
    "Current account; Current account balance; Current accounts",
    "External balance assessment (EBA); External position; External sustainability",
    "Foreign exchange; Real effective exchange rates; Real exchange rates",
    "Associated factors and keywords: global imbalances, labor market rigidity, OECD product market, EBA gaps adjustment, EBA current account model, EBA REER, exchange rates, external sector assessments",
    "By Cian Allen, Camila Casas, Giovanni Ganelli, Luciana Juvenal, Daniel Leigh, Pau Rabanal, Cyril Rebillard, Jair Rodriguez, João Tovar Jalles",
    "March 3, 2023",
    "**Working Paper**"
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