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'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.
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'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.
The national bestseller that turns you into “an expert at pairing wine with just about anything, from pizza and Lucky Charms to pad thai and Popeye’s” (Maxim). Featured on Today and CBS This Morning Named one of the best books of the year by Food & Wine, Saveur, and Town & Country Sancerre and Cheetos go together like milk and cookies. The science behind this unholy alliance is as elemental as acid, fat, salt, and minerals. Wine pro Vanessa Price explains how to create your own pairings while proving you don’t necessarily need fancy foods to unlock the joys of wine. Building upon the outsize success of her weekly column in Grub Street, Price offers delightfully bold wine and food pairings alongside hilarious tales from her own unlikely journey as a Kentucky girl making it in the Big Apple and in the wine business. Using language everyone can understand, she reveals why each dynamic duo is a match made in heaven, serving up memorable takeaways that will help you navigate any wine list or local bottle shop. Charmingly illustrated and bubbling with personality, Big Macs & Burgundy will open your mind to the entirely fun and entirely accessible wine pairings out there waiting to be discovered—and make you do a few spit-takes along the way. “The book explores all different kinds of combinations, including breakfast pairings like avocado toast and Rueda Verdejo, pairings for entertaining like shrimp cocktail & Valdeorras Godello, and even some pairings with popular Trader Joe’s items.” —Food & Wine “A smart, useful guide to drinking the world’s great wine, whether you’re pairing it with foie gras or Fritos.” —Town & Country
Seeks to provide an engaging and comprehensive primer to economics that explains key concepts without technical jargon and using common-sense examples.
What is Big Mac Index Since 1986, The Economist has been publishing a price index known as the Big Mac Index. This index serves as an informal method of evaluating the purchasing power parity (PPP) between two currencies. Additionally, it serves as a test of the extent to which market exchange rates result in commodities costing the same in different nations. Essentially it "seeks to make exchange-rate theory a bit more digestible." Through the use of this index, the relative cost of purchasing a Big Mac, which is a hamburger that is sold in McDonald's restaurants, is compared across the globe. How you will benefit (I) Insights, and validations about the following topics: Chapter 1: Big Mac Index Chapter 2: Inflation Chapter 3: Fast-food restaurant Chapter 4: Purchasing power parity Chapter 5: Exchange rate Chapter 6: Big Mac Chapter 7: Balassa-Samuelson effect Chapter 8: Index (economics) Chapter 9: Law of one price Chapter 10: Penn effect Chapter 11: Marshall-Lerner condition Chapter 12: McDonald's Chapter 13: Revaluation Chapter 14: International dollar Chapter 15: Christmas Price Index Chapter 16: Currency intervention Chapter 17: Relative purchasing power parity Chapter 18: Fast food in China Chapter 19: Russian financial crisis (2014-2016) Chapter 20: KFC Index Chapter 21: Hyperinflation in Venezuela (II) Answering the public top questions about big mac index. (III) Real world examples for the usage of big mac index in many fields. Who this book is for Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Big Mac Index.
The definitive reference book with real-world solutions you won't find anywhere else The Big Book of Dashboards presents a comprehensive reference for those tasked with building or overseeing the development of business dashboards. Comprising dozens of examples that address different industries and departments (healthcare, transportation, finance, human resources, marketing, customer service, sports, etc.) and different platforms (print, desktop, tablet, smartphone, and conference room display) The Big Book of Dashboards is the only book that matches great dashboards with real-world business scenarios. By organizing the book based on these scenarios and offering practical and effective visualization examples, The Big Book of Dashboards will be the trusted resource that you open when you need to build an effective business dashboard. In addition to the scenarios there's an entire section of the book that is devoted to addressing many practical and psychological factors you will encounter in your work. It's great to have theory and evidenced-based research at your disposal, but what will you do when somebody asks you to make your dashboard 'cooler' by adding packed bubbles and donut charts? The expert authors have a combined 30-plus years of hands-on experience helping people in hundreds of organizations build effective visualizations. They have fought many 'best practices' battles and having endured bring an uncommon empathy to help you, the reader of this book, survive and thrive in the data visualization world. A well-designed dashboard can point out risks, opportunities, and more; but common challenges and misconceptions can make your dashboard useless at best, and misleading at worst. The Big Book of Dashboards gives you the tools, guidance, and models you need to produce great dashboards that inform, enlighten, and engage.
The revised and updated 7th edition of this highly regarded book brings the reader right up to speed with the latest financial market developments, and provides a clear and incisive guide to a complex world that even those who work in it often find hard to understand. In chapters on the markets that deal with money, foreign exchange, equities, bonds, commodities, financial futures, options and other derivatives, the book examines why these markets exist, how they work, and who trades in them, and gives a run-down of the factors that affect prices and rates. Business history is littered with disasters that occurred because people involved their firms with financial instruments they didn't properly understand. If they had had this book they might have avoided their mistakes. For anyone wishing to understand financial markets, there is no better guide.
In this paper we develop and test two hypotheses about purchasing power parity (PPP) derived from the pricing behavior of profit- maximizing, exporting firms. The first is that changes in the price of traded goods relative to domestic substitutes, due to partial pass- through of exchange rates, will affect the PPP relation. The second is that PPP should hold on forward rather than spot exchange rates, due to hedging by firms. Using quarterly data for the United States, Canada, France, Germany, Japan and the United Kingdom, we find considerable support for the first but not the second hypothesis.
Brilliant and engagingly written, Why Nations Fail answers the question that has stumped the experts for centuries: Why are some nations rich and others poor, divided by wealth and poverty, health and sickness, food and famine? Is it culture, the weather, geography? Perhaps ignorance of what the right policies are? Simply, no. None of these factors is either definitive or destiny. Otherwise, how to explain why Botswana has become one of the fastest growing countries in the world, while other African nations, such as Zimbabwe, the Congo, and Sierra Leone, are mired in poverty and violence? Daron Acemoglu and James Robinson conclusively show that it is man-made political and economic institutions that underlie economic success (or lack of it). Korea, to take just one of their fascinating examples, is a remarkably homogeneous nation, yet the people of North Korea are among the poorest on earth while their brothers and sisters in South Korea are among the richest. The south forged a society that created incentives, rewarded innovation, and allowed everyone to participate in economic opportunities. The economic success thus spurred was sustained because the government became accountable and responsive to citizens and the great mass of people. Sadly, the people of the north have endured decades of famine, political repression, and very different economic institutions—with no end in sight. The differences between the Koreas is due to the politics that created these completely different institutional trajectories. Based on fifteen years of original research Acemoglu and Robinson marshall extraordinary historical evidence from the Roman Empire, the Mayan city-states, medieval Venice, the Soviet Union, Latin America, England, Europe, the United States, and Africa to build a new theory of political economy with great relevance for the big questions of today, including: - China has built an authoritarian growth machine. Will it continue to grow at such high speed and overwhelm the West? - Are America’s best days behind it? Are we moving from a virtuous circle in which efforts by elites to aggrandize power are resisted to a vicious one that enriches and empowers a small minority? - What is the most effective way to help move billions of people from the rut of poverty to prosperity? More philanthropy from the wealthy nations of the West? Or learning the hard-won lessons of Acemoglu and Robinson’s breakthrough ideas on the interplay between inclusive political and economic institutions? Why Nations Fail will change the way you look at—and understand—the world.
