[2012.01.12]The Big Mac index 巨无霸指数

migmig

Daily chart
每日图表

The Big Mac index
巨无霸指数

Jan 12th 2012, 16:53 by The Economist online

Burgernomics shows Switzerland has the most overvalued currency
汉堡经济学表显示瑞士的货币估值过高最为严重

THE ECONOMIST's Big Mac index is based on the theory of purchasing-power parity: in the long run, exchange rates should adjust to equal the price of a basket of goods and services in different countries. This particular basket holds a McDonald's Big Mac, whose price around the world we compared with its American average of $4.20. According to burgernomics the Swiss franc is a meaty 62% overvalued. The exchange rate that would equalise the price of a Swiss Big Mac with an American one is SFr1.55 to the dollar; the actual exchange rate is only 0.96. The cheapest burger is found in India, costing just $1.62. Though because Big Macs are not sold in India, we take the price of a Maharaja Mac, which is made with chicken instead of beef. Nonetheless, our index suggests the rupee is 60% undercooked. The euro, which recently fell to a 16-month low against the dollar, is now trading at less than €1.30 to the greenback. The last time we served up our index in July 2011, the euro was 21% overvalued against the dollar, but it is now just 6% overvalued. Other European currencies have also weakened against the dollar since our previous index, notably the Hungarian forint and Czech koruna, which have fallen by 23% and 16% respectively. Six months ago both currencies were close to fair value, but they are now undervalued by 37% and 18%.

《经济学人》的巨无霸指数基于购买力平价理论：汇率在长期里应当会自行调整，直到同一篮子商品和劳务的价格不因国家不同而不同。 本文讨论的这个特定的篮子装的是麦当劳的巨无霸， 其平均价格在美国是4.20 美元， 我们将其美国价比较于其在世界其他各国的价格。 根据汉堡经济学，瑞士法郎被高估达62%。能使瑞士与美国巨无霸价格相等的汇率是1.55：1；实际汇率只有0.96。最便宜的汉堡在印度，只需1.62美元。尽管印度不卖巨无霸，《经济学人》采用了“大君麦香堡”价格，这种“堡”用鸡肉替代了牛肉。不过，《经济学人》指数表明卢比被低估了60%。欧元对美元进来跌至16月最低点，现在对美元小于1.3欧元:1美元。上一次《经济学人》制作这一指数还在2011年7月，欧元对美元被高估了21%，而现在则只高估了6%。自《经济学人》此前指数发布以来，其他欧洲货币对美元也有所减弱，尤其是匈牙利福林和捷克克朗，分别下跌了23%和16%。6个月以前，这两种货币与实际值相当，不过现在它们分别被低估37%和18%。

yannanchen

in the long run, exchange rates should adjust to equal the price of a basket of goods and services in different countries. This particular basket holds a McDonald's Big Mac, whose price around the world we compared with its American average of $4.20. 从长远看，汇率应当调整使不同国家篮子里的商品和服务对等。现在这一特别篮子里装的是麦当劳的巨无霸，《经济学人》将其价格与美国平均价格4.2美元进行比较。
汇率在长期里应当会自行调整，直到同一篮子商品和劳务的价格不因国家不同而不同。 本文讨论的这个特定的篮子装的是麦当劳的巨无霸， 其平均价格在美国是4.20 美元， 我们将其美国价比较于其在世界其他各国的价格。

zgvote

没看到 中国？

ECO学子

“能使瑞士与美国巨无霸价格相等的汇率是1.55法郎：1美元；实际汇率只有0.96。”

瑞士法郎兑美元的汇率应该使一个瑞士巨无霸对一个美国巨无霸的价值相等，也就是1.55：1，而实际的汇率只有0.96。（语序调整都不是太大的问题，问题是“价格相等”是指价格数就是一样的，那汇率毫无疑问就是1:1了，所以应该是1.55这个汇率是两国（不同的价格）巨无霸的价值相等）

migmig

ECO学子 发表于 2012-1-14 14:39
“能使瑞士与美国巨无霸价格相等的汇率是1.55法郎：1美元；实际汇率只有0.96。”

瑞士法郎兑美元的汇率应 ...

也就是说汇率应该是个比值，不带单位，对吧？

ECO学子

回复 migmig 的帖子

主要还是“价格”、“价值”的问题，其他修改可有可无