Centers for International Price Research


Founding Directors

Mario J. Crucini
Vanderbilt University

Mototsugu Shintani
Vanderbilt University

Chris I. Telmer
Carnegie-Mellon University

Affiliated Institutions

Globalization and Monetary Policy Institute, Federal Reserve Bank of Dallas Mark Wynne, Director

Contributing Partners

David Parsley, Vanderbilt University

Hakan Yilmazkuday, Temple University

International Partners

Christoph Fischer, Deutsche Bundesbank

Daniel Levy, Bar-Ilan University, Israel

Marios Zachariadis, University of Cyprus


This archive was developed by Mario J. Crucini, Chris I. Telmer and Marios Zachariadis. Users of the archive are requested to cite the following article:

“Understanding European Real Exchange Rates,” (Mario J. Crucini, Chris I. Telmer, and Marios Zachariadis), American Economic Review, June 2005, Vol. 95, No 23, 724-738.

The Eurostat price data consists of four separate cross-sections with the properties indicated in the table below (clicking on the links in the country and goods rows provides lists of available countries and goods, by year of the cross-section):

Number of countries
Number of goods
Proportion missing
Least missing
Most missing
Proportion branded

The Eurostat price data (in local currencies) are provided here:

This data or subsets of it have been used in the following academic papers:

Giri, Rahul. 2012. Local costs of distribution, international trade costs and micro evidence on the Law of One Price, Journal of International Economics, 86:1.

Yorukoglu, Mehmet. 2000. Product vs. process innovations and economic fluctuations. Carnegie-Rochester Conference Series on Public Policy 52, 137-163.

Inanc, Ozlem and Marios Zachariadis. 2012. “The importance of trade costs in deviations from the Law-of-One-Price: Estimates based on the direction of trade,” Economic Inquiry, 50:3, 667-689.

Mario Crucini and Christopher Telmer gratefully acknowledge the financial support of the National Science Foundation (SES-0136979) and the Carnegie Bosch Institute.

back to home page

Research Associates

George Alessandria, FRB of Philadelphia

Chikako Baba, IMF

Dave Backus, New York University

Paul Bergin, UC-Davis

Martin Berka, Massey University

Eric Bond, Vanderbilt University

Ariel Burstein, UCLA

Luca Dedola, European Central Bank

Michael Devereux, University of British Columbia

Benjamin Eden, Vanderbilt University

Charles Engel, University of Wisconsin

Etienne Gagnon, Federal Reserve Board

Rahul Giri, ITAM

Pinelopi Goldberg, Princeton University

Linda Goldberg, FRB of New York

Gita Gopinath, Harvard University

Yuriy Gorodnichenko, UC-Berkeley

Rebecca Hellerstein, FRB of New York

Kevin Huang, Vanderbilt University

David Hummels, Purdue University

Michael Knetter, University of Wisconsin

Anthony Landry, FRB of Dallas

Beverly Lapham, Queen's University

Sylvain Leduc, FRB of San Francisco

Virgiliu Midrigan, New York University

Kanda Naknoi, Purdue University

Masao Ogaki, Keio University

Joel Rodrigue, Vanderbilt University

Kim Ruhl, New York University

Ina Simonovska, UC Davis

Gregor Smith, Queen's University

Takayuki Tsuruga, Kansai University

Jian Wang, Federal Reserve Bank of Dallas


The Center for International Microeconomic Prices is a public data and research dissemination portal. The goal is to build the authorative compliation of absolute (domestic currency) micro-price data at the level of international cities and below (e.g. outlets, firms and so forth). The Center also sponsors occasional conferences and workshops on international price determination and related topics in international trade and macroeconomics. We welcome contributions of other researchers whether it be research on international micro-prices and/or data archives. Some of public archives made available here have been supported by grants from the National Science Foundation. The grant numbers and principal investigators are identified on the sub-pages where those data are found. The content published hereon reflect those of the authors and contributors and not the view of the National Science Foundation.