The Big Mac Index Applications of Purchasing Power Parity,9781403903105

The Big Mac Index Applications of Purchasing Power Parity

by
ISBN13: 9781403903105
ISBN10: 1403903107
Format: Hardcover
Pub. Date: 2003-05-30
Publisher(s): Palgrave Macmillan
List Price: $162.07

Buy New

Usually Ships in 8 - 10 Business Days.
$154.35
Add to Cart

Rent Textbook

Select for Price
Add to Cart
There was a problem. Please try again later.

Digital

Rent Digital Options
Online:30 Days access
Downloadable:30 Days
$35.64
Online:60 Days access
Downloadable:60 Days
$47.52
Online:90 Days access
Downloadable:90 Days
$59.40
Online:120 Days access
Downloadable:120 Days
$71.28
Online:180 Days access
Downloadable:180 Days
$77.22
Online:1825 Days access
Downloadable:Lifetime Access
$118.80
*To support the delivery of the digital material to you, a non-refundable digital delivery fee of $3.99 will be charged on each digital item.
$77.22*
Add to Cart

Used Textbook

We're Sorry
Sold Out

Buy from our Marketplace starting at $113.65

How Marketplace Works:

  • This item is offered by an independent seller and not shipped from our warehouse
  • Item details like edition and cover design may differ from our description; see seller's comments before ordering.
  • Sellers much confirm and ship within two business days; otherwise, the order will be cancelled and refunded.
  • Marketplace purchases cannot be returned to eCampus.com. Contact the seller directly for inquiries; if no response within two days, contact customer service.
  • Additional shipping costs apply to Marketplace purchases. Review shipping costs at checkout.

Summary

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.

Author Biography

Li Lian Ong is Senior Analyst, Macquarie Bank.

Table of Contents

List of Tables
ix
List of Figures
x
Foreword xi
Bill Shields
Preface xiii
Acknowledgements xv
Notes on the Contributors xvi
Purchasing Power Parity: A Survey of the Issues
1(28)
Introduction
1(1)
Absolute and relative parities
2(2)
The index-number problem
4(5)
Determining the equilibrium exchange rate
9(3)
The productivity bias hypothesis
12(5)
Further qualifications to PPP
17(6)
Summary
23(6)
The Growing Evidence on Purchasing Power Parity
29(22)
Yihui Lan
Introduction
30(1)
The `trends' in PPP research
31(3)
Empirical evidence in the 1990s
34(7)
The Economist's Big Mac Index
41(2)
Summary
43(8)
The Economics of the Big Mac Standard
51(37)
Introduction
52(1)
The data
53(2)
The valuation of currencies
55(6)
Geographic effects
61(4)
Further tests of Big Mac PPP
65(3)
Relative parity
68(1)
Possible causes of deviations from parity
69(2)
Is the Big Mac all tradeable?
71(5)
Improving the Big Mac Index: the No-Frills Index
76(1)
Conclusion
77(1)
Appendices
78(10)
`Burgernomics' and the ASEAN Currency Crisis
88(4)
Introduction
88(2)
Currencies in crisis
90(2)
Big Macs and Wages To Go, Please: Comparing the Purchasing Power of Earnings Around the World
92(17)
Introduction
93(2)
On paycheques and purchasing power
95(3)
Who gets what where?
98(2)
Further extensions: accommodation and transportation
100(5)
Conclusion
105(4)
Professors and Hamburgers: An International Comparison of Real Academic Salaries
109(14)
Jason D. Mitchell
Introduction
110(3)
Comparisons of purchasing power
113(4)
Quality of life
117(1)
Conclusion
118(5)
Index 123

An electronic version of this book is available through VitalSource.

This book is viewable on PC, Mac, iPhone, iPad, iPod Touch, and most smartphones.

By purchasing, you will be able to view this book online, as well as download it, for the chosen number of days.

Digital License

You are licensing a digital product for a set duration. Durations are set forth in the product description, with "Lifetime" typically meaning five (5) years of online access and permanent download to a supported device. All licenses are non-transferable.

More details can be found here.

A downloadable version of this book is available through the eCampus Reader or compatible Adobe readers.

Applications are available on iOS, Android, PC, Mac, and Windows Mobile platforms.

Please view the compatibility matrix prior to purchase.