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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Square_Dealings who wrote (20088)1/1/2005 11:59:03 AM
From: mishedlo  Read Replies (3) of 116555
 
Big Mac index
The Economist's Big Mac index is based on the theory of purchasing-power parity (PPP), the idea that exchange rates should move to equalise the prices of a basket of goods and services across different countries. Our basket is the Big Mac. For example, the cheapest burger in the chart is in China, at $1.26, compared with an average American price of $3. This implies that the yuan is 58% undervalued relative to its Big Mac dollar-PPP. On the same basis, the euro is 25% overvalued, the yen 17% undervalued.

economist.com
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