Simplifying the Big Mac Index

Kenneth Clements; Jiawei Si

Simplifying the Big Mac Index

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Abstract

The Economist magazine recently introduced a major innovation to its famous Big Mac Index of currency values by adjusting for differences in incomes of countries. A recent paper (O’Brien and Ruiz de Vargas, forthcoming, OR) explains clearly the workings of the new index, something overlooked by The Economist. The current paper draws on OR to suggest an alternative formulation that is attractive in its simplicity.

Original language	English
Publisher	UWA Business School
Publication status	Published - 2016

Publication series

Name	Economics Discussion Papers
No.	10
Volume	16

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DP16.10Clements,K.andSi,J.-SimplifyingtheBigMacIndex.pdfFinal published version, 221 KB

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Simplifying the Big Mac Index

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