## 2022 Update of the External Balance Assessment Methodology

_IMF Working Papers, March 3, 2023_

## Source details

**Canonical URL:** [2022 Update of the External Balance Assessment Methodology](https://www.imf.org/en/publications/wp/issues/2023/03/02/2022-update-of-the-external-balance-assessment-methodology-530509)

## Other formats

- [Markdown version](/en/publications/wp/issues/2023/03/02/2022-update-of-the-external-balance-assessment-methodology-530509/index.md)
- [Structured JSON version](/en/publications/wp/issues/2023/03/02/2022-update-of-the-external-balance-assessment-methodology-530509/index.json)
- [Bundle manifest](/en/publications/wp/issues/2023/03/02/2022-update-of-the-external-balance-assessment-methodology-530509/bundle-manifest.json)

## Bibliographic details
- 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

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### Overview
- 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.

### Key updates and refinements
- 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.

### Major themes and subject coverage
- 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

### Authors and publication
- By Cian Allen, Camila Casas, Giovanni Ganelli, Luciana Juvenal, Daniel Leigh, Pau Rabanal, Cyril Rebillard, Jair Rodriguez, João Tovar Jalles
- March 3, 2023

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## Content in this bundle

- **Working Paper**
  - [Working Paper (Markdown version)](/-/media/files/publications/wp/2023/english/wpiea2023047-print-pdf.pdf.md){rel="alternate" type="text/markdown"}
  - [Working Paper (PDF)](/-/media/files/publications/wp/2023/english/wpiea2023047-print-pdf.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/publications/wp/issues/2023/03/02/2022-update-of-the-external-balance-assessment-methodology-530509_