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Record Nr. |
UNINA9910814057103321 |
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Autore |
Clements Kenneth W. <1950-> |
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Titolo |
Currencies, commodities and consumption : measurement and the world economy / / Kenneth W. Clements, Business School, The University of Western Australia |
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Pubbl/distr/stampa |
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Cambridge : , : Cambridge University Press, , 2013 |
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ISBN |
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1-107-23504-9 |
1-139-61031-7 |
1-139-61217-4 |
1-139-62147-5 |
1-283-94307-7 |
1-139-62519-5 |
1-139-60872-X |
1-139-61589-0 |
1-139-04561-X |
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Edizione |
[1st ed.] |
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Descrizione fisica |
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1 online resource (xvii, 381 pages) : digital, PDF file(s) |
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Classificazione |
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Disciplina |
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Soggetti |
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Consumer price indexes |
Cost and standard of living |
Purchasing power parity |
Foreign exchange |
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Lingua di pubblicazione |
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Formato |
Materiale a stampa |
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Livello bibliografico |
Monografia |
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Note generali |
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Title from publisher's bibliographic system (viewed on 05 Oct 2015). |
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Nota di bibliografia |
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Includes bibliographical references and indexes. |
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Nota di contenuto |
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Introduction -- Purchasing power parity theory and the Big Mac Index -- Commodity currencies and currency commodities -- Three facts about marijuana prices -- Patterns in world metal prices -- Disparities in incomes and prices internationally -- Affluence and food: a simple way to infer incomes. |
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Sommario/riassunto |
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Currency values, prices, consumption and incomes are at the heart of the economic performance of all countries. In order to make a meaningful comparison between one economy and another, economists routinely make use of purchasing power parity (PPP) exchange rates, but while PPP rates are widely used and well |
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understood, they take a lot of effort to produce and suffer from publication delays. Currencies, Commodities and Consumption analyses the strengths and weaknesses of two alternatives to PPP. Firstly, the so-called Big Mac Index, which uses hamburger prices as a standard of measurement, and second, a less well known technique which infers incomes across countries based on the proportion of consumption devoted to food. Kenneth W. Clements uses international macroeconomics, microeconomic theory and econometrics to provide researchers and policy makers with insights into alternatives to PPP rates and make sense of the ongoing instability of exchange rates and commodity prices. |
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