The Level Reer Model In The External Balance Assessment Eba Methodology
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The Level Reer Model In The External Balance Assessment Eba Methodology
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Author : Rui Mano
language : en
Publisher: International Monetary Fund
Release Date : 2019-09-13
The Level Reer Model In The External Balance Assessment Eba Methodology written by Rui Mano and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-09-13 with Business & Economics categories.
This paper offers an empirical model of the drivers of the level of the Real Effective Exchange Rate (REER) that is now part of the IMF’s methodology for the assessment of external positions, including exchange rates. It constructs a measure of the level of the REER and it offers a panel regression that considers a large number of cross-sectional and time varying factors, guided by the extensive literature. Its main contribution is to enhance our understanding of the cross-sectional determinants of the level of the REER, while taking into account the time-series drivers. The framework accounts for the much larger cross-sectional variation of the level REER, and can better explain the time series variation of level REER when these are based on GDP-deflators rather than on consumer price indices. The latter suggest there may be merits to broadening the assessments to include such measures, although further analysis is required.
2022 Update Of The External Balance Assessment Methodology
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Author : Mr. Cian Allen
language : en
Publisher: International Monetary Fund
Release Date : 2023-03-03
2022 Update Of The External Balance Assessment Methodology written by Mr. Cian Allen and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-03-03 with Business & Economics categories.
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. This paper provides the latest version of the EBA methodology, updated in 2022 with additional refinements to the current account and real exchange rate regression models, as well as updated estimates for other components of the EBA methodology. The paper also includes an assessment of how estimated current account gaps based on EBA are associated with future external adjustment.
The External Balance Assessment Methodology 2018 Update
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Author : Mr.Luis M. Cubeddu
language : en
Publisher: International Monetary Fund
Release Date : 2019-03-19
The External Balance Assessment Methodology 2018 Update written by Mr.Luis M. Cubeddu and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-03-19 with Business & Economics categories.
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.
The External Balance Assessment Eba Methodology
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Author : Mr.Steven Phillips
language : en
Publisher: International Monetary Fund
Release Date : 2014-01-13
The External Balance Assessment Eba Methodology written by Mr.Steven Phillips and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-01-13 with Business & Economics categories.
The External Balance Assessment (EBA) methodology has been developed by the IMF’s Research Department as a successor to the CGER methodology for assessing current accounts and exchange rates in a multilaterally consistent manner. Compared to other approaches, EBA emphasizes distinguishing between the positive empirical analysis and the normative assessment of current accounts and exchange rates, and highlights the roles of policies and policy distortions. This paper provides a comprehensive description and discussion of the 2013 version (“2.0”) of the EBA methodology, including areas for its further development.
Norway
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Author : International Monetary Fund. European Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2015-09-09
Norway written by International Monetary Fund. European Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-09-09 with Business & Economics categories.
This 2015 Article IV Consultation highlights that the Norwegian economy performed well in 2014 despite the sharp fall in oil prices toward the end of the year. Mainland GDP grew at 2.2 percent, with weaker investment demand being offset by stronger government consumption. Unemployment stayed at a low level in 2014, but has recently edged up to 4.5 percent in June 2015 according to the labor force survey. The near-term outlook has weakened owing to lower oil prices. Mainland GDP growth is projected to slow to 1.3 percent in 2015 with weaker private investment and consumption. Looking further ahead, the medium and longer term present challenges of managing a transition away from the oil-dependent growth model.
India
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Author : International Monetary Fund. Asia and Pacific Dept
language : en
Publisher: International Monetary Fund
Release Date : 2014-02-20
India written by International Monetary Fund. Asia and Pacific Dept and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-02-20 with Business & Economics categories.
This 2014 Article IV Consultation highlights that India’s growth has slowed markedly, reflecting global developments and domestic supply constraints, while inflation remains stubbornly high. Led by falling infrastructure and corporate investment, the slowdown has generalized to other sectors of the economy. The financial positions of banks and corporate have deteriorated. The principal risk facing India is the inward spillover from global financial market volatility. Growth is projected at 4.6 percent for fiscal year 2013/14, and should pick up to 5.4 percent in 2014/15 (at factor cost).
Italy
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Author : International Monetary Fund. European Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2016-07-12
Italy written by International Monetary Fund. European Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-07-12 with Business & Economics categories.
This 2016 Article IV Consultation highlights that the Italian economy is recovering gradually from a deep and protracted recession. Buoyed by exceptionally accommodative monetary policy, favorable commodity prices, supportive fiscal policy, and improved confidence on the back of the authorities’ wide-ranging reform efforts, the economy grew by 0.8 percent in 2015 and continued to expand in the first quarter of 2016. Labor market conditions have been improving gradually, and nonperforming loans appear to be stabilizing at about 18 percent of total loans. Growth is projected to remain just under 1 percent in 2016 and at about 1 percent in 2017.
Rwanda 2021 Article Iv Consultation And Fifth Review Under The Policy Coordination Instrument Press Release Staff Report And Statement By The Executive Director For Rwanda
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Author : International Monetary Fund. African Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2022-01-13
Rwanda 2021 Article Iv Consultation And Fifth Review Under The Policy Coordination Instrument Press Release Staff Report And Statement By The Executive Director For Rwanda written by International Monetary Fund. African Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-01-13 with Business & Economics categories.
Rwanda’s medium-term outlook is positive, supported by the authorities’ large policy package to respond to the evolving COVID-19 pandemic and their continued commitment to the PCI in a challenging environment. Economic recovery is underway with easing of restrictions supported by faster vaccination rates since July. GDP growth is projected at 10.2 percent in 2021 and inflation remained subdued. But Rwanda’s remarkable economic and social progress over the last two decades faces a significant setback, with poverty, unemployment, and gender inequalities on the rise. These pandemic scars, if not addressed, risk reversing hard-won economic and social gains. With a large share of the population still unvaccinated and the emergence of new variants, risks to the outlook remain elevated.
Botswana 2021 Article Iv Consultation Press Release Staff Report And Statement By The Executive Director For Botswana
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Author : International Monetary Fund. African Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2021-06-02
Botswana 2021 Article Iv Consultation Press Release Staff Report And Statement By The Executive Director For Botswana written by International Monetary Fund. African Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-06-02 with Business & Economics categories.
Botswana entered the COVID-19 crisis with larger buffers than most countries, but significantly less than in the past. The country was contending with structural challenges, persistent negative external shocks and delays in adjustment that had already caused a significant weakening of international reserves coverage and the fiscal position amid high unemployment. The pandemic exacerbated these challenges causing a sharp GDP contraction, among the strongest in SSA and a widening in the current account deficit. Foreign exchange reserves dropped further, though still remaining well above adequate levels. The fiscal deficit widened significantly as the government sought to counter the economic impact of the COVID-19 crisis, and implemented a sizeable public wage increase agreed in 2019. The deficit was financed partially by drawing down on the Government Investment Account.
Nigeria
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Author : International Monetary Fund. African Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2018-03-07
Nigeria written by International Monetary Fund. African Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-03-07 with Business & Economics categories.
This 2018 Article IV Consultation highlights that the Nigerian economy is exiting recession but remains vulnerable. New foreign exchange measures, rising oil prices, attractive yields on government securities, and a tighter monetary policy have contributed to better foreign exchange availability, increased reserves to a four-year high, and contained inflationary pressures. Economic growth reached 0.8 percent in 2017, driven mainly by recovering oil production. Inflation declined to 15.4 percent year-over-year by end-December, from 18.5 percent at end-2016. Higher oil prices are supporting the near-term projections, but medium-term projections indicate that growth would remain relatively flat, with continuing declines in per capita real GDP under unchanged policies.