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Real effective exchange rates for 178 countries: a new database

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  • Zsolt Darvas

Abstract

Click here for the most recently updated database The real effective exchange rate (REER), which measures the development of the real value of a countryâ??s currency against the basket of the trading partners of the country, is a frequently used variable in both theoretical and applied economic research and policy analysis. It is used for a wide variety of purposes, such as assessing the equilibrium value of a currency, the change in price or cost competitiveness, the drivers of trade flows, or incentives for reallocation production between the tradable and the non-tradable sectors. Due to the importance of the REER in economic research and policy analysis, several institutions, such as the World Bank, the Eurostat, the BIS, the OECD, just to name a few, publish various REER indicators which are freely downloadable. Altogether, these institutions publish data for 113 countries. The countries for which data are available include all advanced and several emerging and developing countries. However, different databases may have different methodologies and even the 109 countries included in the World Bank database miss several dozen countries of the world. Our database has three novelties: Using a consistent methodology, we calculate CPI-based REER for 178 countries (plus the euro area) for annual data and for 153 countries (plus the euro area) for monthly data. We calculate the REER for all countries up to date, eg in the current vintage of the database we calculate up to January 2012. It is relatively easy to calculate REER against any arbitrary group of countries â?? what is needed for this is a re-scaling of the weighting matrix. The database will be irregularly updated.

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File URL: http://www.bruegel.org/download/parent/716-real-effective-exchange-rates-for-178-countries-a-new-database/file/1630-real-effective-exchange-rates-for-178-countries-a-new-database/
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Bibliographic Info

Paper provided by Bruegel in its series Working Papers with number 716.

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Date of creation: Mar 2012
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Handle: RePEc:bre:wpaper:716

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Cited by:
  1. Jean Pisani-Ferry & André Sapir & Guntram B. Wolff, . "EU-IMF assistance to euro area countries: an early assessment," Blueprints, Bruegel, number 779, June.
  2. Johannesen, Niels, 2014. "Tax evasion and Swiss bank deposits," Journal of Public Economics, Elsevier, vol. 111(C), pages 46-62.
  3. Benkovskis, Konstantins & Wörz, Julia, 2013. "Non-price competitiveness of exports from emerging countries," Working Paper Series 1612, European Central Bank.
  4. Giovanni Andrea Cornia & Bruno Martorano, 2012. "Development Policies and Income Inequality in Selected Developing Regions, 1980–2010," UNCTAD Discussion Papers 210, United Nations Conference on Trade and Development.
  5. Das, Debasish Kumar, 2012. "Determinants of current account imbalances in the global economy: A dynamic panel analysis," MPRA Paper 42419, University Library of Munich, Germany.

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