The Big Mac Index

Applications of Purchasing Power Parity

L. Ong

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English

Palgrave Macmillan
13 March 2003

Economic forecasting; International economics

Purchasing Power Parity (PPP) is one of the most widely researched areas in international finance and one of the most controversial in the theory of exchange rate determination. This book demonstrates the applications of Purchasing Power Parity in exchange rate determination as well as more practical applications of salary comparison and the cost of living across borders. It uses ""The Economist"" magazine'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.

By: L. Ong
Imprint: Palgrave Macmillan
Country of Publication: United States
Edition: 2003 ed.
Dimensions: Height: 216mm, Width: 140mm, Spine: 13mm
Weight: 319g
ISBN: 9781403903105
ISBN 10: 1403903107
Pages: 126
Publication Date: 13 March 2003
Audience: College/higher education , Professional and scholarly , Further / Higher Education , Undergraduate
Format: Hardback
Publisher's Status: Active

Introduction Purchasing Power Parity: A Survey of the Issues The Growing Evidence on Purchasing Power Parity The Economics of the Big Mac Standard Burgernomics and the ASEAN Currency Crisis Big Macs and Wages To Go: Comparing the Purchasing Power of Earnings Around the World Professors and Hamburgers Index

LI LIAN ONG is an economist with the International Capital Markets Department at the International Monetary Fund in Washington DC. Prior to joining the IMF in 2002, Li Lian worked in Sydney and Hong Kong as the Asia economist for the Macquarie Group. She has also worked as a staff assistant at Arthur Andersen in Kuala Lumpur, Malaysia.