try the following:
df.loc[df.index.get_level_values('Period') != 0, 'Value'] = 0
Explanation:
In [5]: df Out[5]: Value Date Period 20130101 0 12 1 13 20130102 0 13 1 14 In [6]: df.index.get_level_values('Period') Out[6]: Int64Index([0, 1, 0, 1], dtype='int64', name='Period') In [7]: df.index.get_level_values('Period') != 0 Out[7]: array([False, True, False, True], dtype=bool) In [8]: df[df.index.get_level_values('Period') != 0] Out[8]: Value Date Period 20130101 1 13 20130102 1 14 In [9]: df.loc[df.index.get_level_values('Period') != 0, 'Value'] = 0 In [10]: df Out[10]: Value Date Period 20130101 0 12 1 0 20130102 0 13 1 0
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