Cécile Couharde, Anne-Laure Delatte, Carl Grekou, Valérie Mignon, Florian Morvillier, 02 September 2017

Academics have traditionally computed their own measure for assessing whether a currency is over- or undervalued, while policymakers rely on scarce public information with inconsistent data. This column introduces a new database, EQCHANGE, which includes nominal and real effective exchange rates, as well as equilibrium real effective exchange rates for more than 180 countries from 1973 onwards. It represents the longest and largest publicly available database on equilibrium exchange rates and corresponding misalignments.

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