The Economist's Big Mac Index is calculated with R
( go to the article → https://blog.revolutionanalytics.com/2018/10/big-mac-index.html )
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 Sweden — expressed in US dollars — gives an American traveler a sense of how much more expensive things will be in Stockholm. And comparing the price of a Big Mac in several countries converted to a single baseline currency is a measure of how over-valued (or undervalued) those other currencies...
Oct. 12, 2018, 7:28 p.m.
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