CEPII, Recherche et Expertise sur l'economie mondiale
MULTIPRIL, a new database on multilateral price levels and currency misalignments


Cécile Couharde
Carl Grekou
Valérie Mignon

 Highlights :
  • MULTIPRIL is a global database on Multilateral Price Levels (MPL).
  • MULTIPRIL includes (i) relative price level series computed vis-à-vis two sets of trading partners according to three different trade-weighting schemes, and (ii) MPL-based currency misalignments series.
  • MULTIPRIL covers a wide sample of 178 countries over the 1990-2018 period.

 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

 JEL : F31, C32, C82
CEPII Working Paper
N°2020-12, October 2020

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 Fields of expertise

Money & Finance
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