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DrewMuellerEcon
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I have to take issue with the first chart title "The British Pound is 23% undervalued ..." Use of the term undervalued makes it sound like it should be parity. It shouldn't. With Brexit, and in general, the pound should most likely be worth less than the dollar (although historically its alway valued significantly higher), and should have less buying power due to a significantly smaller and weaker economy than the U.S.
The Economist's Big Mac Index is calculated with R
The Economist's Big Mac Index (also described on Wikipedia if you're not a subscriber) was created (somewhat tongue-in-cheek) as a measure to compare the purchasing power of money in different countries. Since Big Macs are available just about everywhere in the world, the price of a Big Mac in S...
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Oct 13, 2018
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