author={Cécile Couharde and Carl Grekou and Valérie Mignon},
title={MULTIPRIL, a New Database on Multilateral Price Levels and Currency Misalignments},
type={Working Papers},
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 pricecompetitiveness 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.}