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101 0 $aeng
135   $aur|||||||||||
181   $ctxt$2rdacontent
182   $cc$2rdamedia
183   $acr$2rdacarrier
200 10$aCurrencies, commodities and consumption $emeasurement and the world economy /$fKenneth W. Clements, Business School, The University of Western Australia
205   $a1st ed.
210  1$aCambridge :$cCambridge University Press,$d2013.
215   $a1 online resource (xvii, 381 pages) $cdigital, PDF file(s)
300   $aTitle from publisher's bibliographic system (viewed on 05 Oct 2015).
311   $a1-316-60111-0 
311   $a1-107-01476-X 
320   $aIncludes bibliographical references and indexes.
327   $aIntroduction -- 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.
330   $aCurrency 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 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.
517 3 $aCurrencies, Commodities & Consumption
606   $aConsumer price indexes
606   $aCost and standard of living
606   $aPurchasing power parity
606   $aForeign exchange
615  0$aConsumer price indexes.
615  0$aCost and standard of living.
615  0$aPurchasing power parity.
615  0$aForeign exchange.
676   $a339.3
686   $aBUS039000$2bisacsh
700   $aClements$b Kenneth W.$f1950-$0233018
801  0$bUkCbUP
801  1$bUkCbUP
906   $aBOOK
912   $a9910814057103321
996   $aCurrencies, commodities and consumption$94070503
997   $aUNINA