EQCHANGE: A World Database on Actual and Equilibrium Effective Exchange Rates

145 Pages Posted: 4 Aug 2017

See all articles by Cecile Couharde

Cecile Couharde

CEROS, Paris Nanterre University

Anne-Laure Delatte

CNRS

Carl Grekou

Centre d'Etudes Prospectives et d'Info. Internationales (CEPII)

Valerie Mignon

CEROS, Paris Nanterre University

Florian Morvillier

CEROS, Paris Nanterre University

Date Written: July 2017

Abstract

The aim of this paper is to present EQCHANGE the new database developed by the CEPII on effective exchange rates. EQCHANGE includes two sub-databases containing data on (i) nominal and real effective exchange rates, and (ii) equilibrium real effective exchange rates and corresponding currency misalignments for advanced, emerging and developing countries. More specifically, the first sub-database delivers effective exchange rates for 187 countries that are computed under three different weighting schemes and two panels of trading partners (186 and top 30) over the 1973-2016 period. The second sub-database provides behavioral equilibrium exchange rate (BEER) estimates and corresponding currency misalignments for 182 economies over the 1973-2016 period. We describe the construction of the two datasets and illustrate some possible uses by presenting results concerning the evolution and main characteristics of currency misalignments in the world from 2015 to 2016. By providing publicly available indicators of equilibrium exchange rates, EQCHANGE aims to contribute to key debates in international macroeconomics.

Keywords: Exchange rates; Equilibrium exchange rates; Currency misalignments

JEL Classification: C23, C82, F31

Suggested Citation

Couharde, Cecile and Delatte, Anne-Laure and Grekou, Carl and Mignon, Valerie and Morvillier, Florian, EQCHANGE: A World Database on Actual and Equilibrium Effective Exchange Rates (July 2017). CEPR Discussion Paper No. DP12190. Available at SSRN: https://ssrn.com/abstract=3011428

Cecile Couharde (Contact Author)

CEROS, Paris Nanterre University ( email )

200 avenue de la République
NANTERRE, 92000
France

Anne-Laure Delatte

CNRS ( email )

3, rue Michel-Ange
Paris, 75794
France

Carl Grekou

Centre d'Etudes Prospectives et d'Info. Internationales (CEPII) ( email )

9 rue Georges Pitard
Paris Cedex 15, F-75015
France

Valerie Mignon

CEROS, Paris Nanterre University ( email )

200 avenue de la République
NANTERRE, 92000
France

Florian Morvillier

CEROS, Paris Nanterre University ( email )

200 avenue de la République
NANTERRE, 92000
France

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