以购买力等价理论为基础,汉堡经济旨在表示任意两个国家,长期以来保持的汇率应该趋于使人们消费在同样的商品或服务的金钱持平。在美国巨无霸的价格平均为每个$4.07,而在中国经市场汇率计算仅为$2.27,便宜了 44%。换句话说,原始的巨无霸指数显示人民币较美元被低估了44%。另一方面瑞士和挪威的货币则约被高估了100%。欧元较美元高估了21%;英镑低估了一点点,日元则和美元持平。这是我们第一次将印度囊括在调查的国家中,因为麦当劳并不在印度销售巨无霸,于是我们选取印度版巨无霸来研究,汉堡里面夹的是鸡肉而不是牛肉。但肉的价格占整个汉堡价格的比例小于10%,所以这也不会使结果产生太大偏差。结果显示,卢比的汇率被低估了53%。
Ketchup growth
番茄酱增值
Some find burgernomics hard to swallow. Burgerscannot easily be traded across borders, and pricesare distorted by big differences in the cost of non-traded local inputs such as rent and workers wages.The Big Mac index suggests that most emerging-market currencies are significantly undervalued, forinstance . But you would expect average prices tobe cheaper in poor countries than in rich onesbecause labour costs are lower. This is the basis of the so-called Balassa-Samuelson effect.Rich countries have much higher productivity and hence higher wages in the traded-goodssector than poor countries do. Because firms compete for workers, this also pushes up wagesin non-tradable goods and services, where rich countries productivity advantage is smaller.So average prices are cheaper in poor countries. The top chart shows a strong positiverelationship between the dollar price of a Big Mac and GDP per person
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