"We wanted to see where the U.S. minimum wage ranked on an international scale, so we took a fairly well-known indicator – the Big Mac Index – and compared burger prices to minimum wages in different countries," says the ConvergEx team.
7. "We wanted to see where the U.S.
minimum wage ranked on an
international scale, so we took a
fairly well-known indicator – the Big
Mac Index – and compared burger
prices to minimum wages in different
countries," says the ConvergEx team.
8. We can find more view of Big Mac Index from NationMaster.com …
9.
10. The Big Mac Index Two Decades on An Evaluation of Burgernomics
-The index is a biased predictor of currency values.
-Once the bias is allowed for, the index tracks exchange rates
reasonably well over the medium to longer term in accordance with
relative purchasing power parity theory.
-The index is at least as good as the industry standard, the
random walk model, in predicting future currency values for all but
short-term horizons.