Contrarian MacParity
证明巨无霸指数在时间序列维度上符合购买力平价,且国家效应与收入相关,支持巴拉萨-萨缪尔森效应。
Conventional wisdom asserts that PPP does not hold for Big Mac prices. To the contrary, this paper demonstrates that PPP holds in the time-series dimension and that country effects are linked to income, as suggested by the Balassa-Samuelson effect.