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MULTIPRIL, a new database on multilateral price levels and currency misalignments

Cécile Couharde, Carl Grekou () and Valérie Mignon ()

International Economics, 2021, vol. 165, issue C, 94-117

Abstract: This paper describes the new CEPII-MULTIPRIL database on Multilateral Price Levels (MPL) introduced in 2020. The MULTIPRIL database covers a wide sample of 178 countries over the 1990–2018 period, and includes relative price level series computed vis-à-vis two sets of trading partners (177 and the top 30) according to three different trade-weighting schemes. It also contains MPL-based currency misalignments series for 156 countries over the 1991–2018 period. MULTIPRIL offers the potential to improve the coverage and quality of worldwide price-competitiveness comparisons. By focusing on price level data, it usefully complements the EQCHANGE database on equilibrium exchange rates and currency misalignments derived from series in indices. Its multilateral setting provides a more comprehensive picture of relative price levels and currency misalignments compared to existing bilateral measures.

Keywords: Multilateral price levels; Equilibrium exchange rates; Currency misalignments; Bayesian model averaging (search for similar items in EconPapers)
JEL-codes: C32 C82 F31 (search for similar items in EconPapers)
Date: 2021
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Working Paper: MULTIPRIL, a New Database on Multilateral Price Levels and Currency Misalignments (2021)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:inteco:v:165:y:2021:i:c:p:94-117

DOI: 10.1016/j.inteco.2020.12.003

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