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Currencies, Commodities and Consumption

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ISBN-10: 110701476X

ISBN-13: 9781107014763

Edition: 2012

Authors: Kenneth W. Clements

List price: $96.00
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Description:

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 whilst 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 secondly, a less well known technique which infers incomes across countries based on the…    
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Book details

List price: $96.00
Copyright year: 2012
Publisher: Cambridge University Press
Publication date: 1/31/2013
Binding: Hardcover
Pages: 397
Size: 6.14" wide x 9.25" long x 0.87" tall
Weight: 1.650
Language: English

Kenneth W. Clements has been at the University of Western Australia since 1981 as Winthrop Professor of Economics and since 2008, BHP Billiton Research Fellow at the UWA Business School. In 2009, his book (co-authored with X. Zhao) Economics and Marijuana was published by Cambridge University Press. He is a Fellow of the Academy of Social Sciences in Australia and in 2009 received from the Australian Learning and Teaching Council a Citation for Outstanding Contributions to Student Learning.

Introduction
Exchange Rates and Prices
Purchasing power parity theory and the Big Mac Index
Commodity currencies and currency commodities
Commodity Prices
Three facts about marijuana prices
Patterns in world metal prices
International Patterns of Incomes, Prices and Consumption
Disparities in incomes and prices internationally
Affluence and food: a simple way to infer incomes