TY - BOOK ID - 46361762 TI - Currencies, commodities and consumption : measurement and the world economy PY - 2013 SN - 1107235049 1139610317 1139612174 1139621475 1283943077 1139625195 113960872X 1139615890 113904561X 110701476X 1316601110 9781139625197 9781139045612 9781283943079 9781107014763 9781316601112 PB - Cambridge : Cambridge University Press, DB - UniCat KW - Consumer price indexes. KW - Cost and standard of living. KW - Purchasing power parity. KW - Foreign exchange. KW - Cambistry KW - Currency exchange KW - Exchange, Foreign KW - Foreign currency KW - Foreign exchange problem KW - Foreign money KW - Forex KW - FX (Finance) KW - International exchange KW - International finance KW - Currency crises KW - Law of one price KW - One price, Law of KW - Parity, Purchasing power KW - Foreign exchange KW - Comfort, Standard of KW - Cost of living KW - Food, Cost of KW - Household expenses KW - Living, Cost of KW - Living, Standard of KW - Standard of living KW - Consumption (Economics) KW - Home economics KW - Households KW - Quality of life KW - Wealth KW - Luxury KW - Prices KW - Purchasing power KW - Wages KW - Consumer price index KW - Cost of living indexes KW - CPIs (Consumer price indexes) KW - Retail price indexes KW - Cost and standard of living KW - Price indexes KW - Surveys KW - Business, Economy and Management KW - Economics UR - https://www.unicat.be/uniCat?func=search&query=sysid:46361762 AB - 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 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. ER -