This book demonstrates the applications of Purchasing Power Parity (PPP) in exchange rate determination as well as more practical applications of salary comparison and the cost-of living across borders. It uses The Economist's annual Big Mac Index in place of the traditional basket of services used in PPP research. The author demonstrates that this is a good solution to the index-number problem since it is readily available and more appealing as an international monetary standard. The book also shows how The Big Mac Index could have been used to predict the Asian Currency Crisis and the Mexican Peso stand-off where more traditional economic measures failed.
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Editorial Reviews
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The survey chapters, articles, and references will be valuable to anyone interested in purchasing power parity."--E. Kacapyr, Choice
About the Author
Li Lian Ong is Senior Analyst, Macquarie Bank.
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Inside This Book
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Key Phrases - Statistically Improbable Phrases (SIPs):
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currency crisis, real academic salaries, productivity bias hypothesis, tracking exchange rates, purchasing power differentials, real net wages, exchange rate behaviour, forecasting exchange rates, purchasing power equivalents, actual exchange rate, price parity, real salaries Key Phrases - Capitalized Phrases (CAPs): (learn more)
Big Mac, New York, Purchasing Power Parity, Hong Kong, The Economist, Journal of Political Economy, Journal of International Economics, Journal of Finance, National Bureau of Economic Research, Working Paper Series, Eastern Europe, Union Bank of Switzerland, Staff Papers, The Growing Evidence, European Economic Review, South Africa, Economics Letters, New Zealand, No-Frills Index, American Economic Review, South Korea, Index Index, Louis Review, Bretton Woods, Public Policy Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Surprise Me!
currency crisis, real academic salaries, productivity bias hypothesis, tracking exchange rates, purchasing power differentials, real net wages, exchange rate behaviour, forecasting exchange rates, purchasing power equivalents, actual exchange rate, price parity, real salaries Key Phrases - Capitalized Phrases (CAPs): (learn more)
Big Mac, New York, Purchasing Power Parity, Hong Kong, The Economist, Journal of Political Economy, Journal of International Economics, Journal of Finance, National Bureau of Economic Research, Working Paper Series, Eastern Europe, Union Bank of Switzerland, Staff Papers, The Growing Evidence, European Economic Review, South Africa, Economics Letters, New Zealand, No-Frills Index, American Economic Review, South Korea, Index Index, Louis Review, Bretton Woods, Public Policy Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Surprise Me!
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cites this book:
- Foreign Exchange: A Practical Guide to the FX Markets (Wiley Finance) by Tim Weithers in Back Matter
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