Currency Valuation and Purchasing Power Parity
This paper aims to highlight key limitations of The Economist magazineâ€™s Big Mac Index (BMI). The Economist markets the BMI as a tool to determine valuation of currencies. This paper shows that the BMI is a misleading measure of currency valuation for economies whose markets are structurally different from the benchmark currency countries.
Volume (Year): 12 (2011)
Issue (Month): 3 (July)
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