c27069273.2020.09.17
巨无霸指数与星巴克指数对汇率评估的比较
Comparison of Exchange Evaluation of Big Mac Index and Starbucks Index
基于购买力平价理论,麦当劳的巨无霸指数常作为一种比较国际生产率变化趋势的有效工具,因其指数构造的简洁性和对外发布的频繁性,自创建以来在各国货币汇价评估中发挥重要参考作用。但由于产品的单一性,巨无霸指数对各国汇率的评估结果,与一国经济发展实情存在不小差距,在经济发展水平较低国家的售价,普遍低于发达国家的美元标价;而星巴克指数可以在一定程度上反映每个国家的物价水平,特别是中产阶级消费物价水平的高低。本文结合各国经济发展水平,对传统的巨无霸指数与星巴克指数进行比较,透过最佳拟合线反映各国汇率的公平价值,结果显示人均GDP与两种商品售价均存在正向关系,而以巨无霸指数显示的汇率在经济发展水平较低的国家普遍被低估,但星巴克指数并不存在此种现象。
关键词:汉堡经济学、购买力平价理论、巨无霸指数、星巴克指数、最佳拟合线
Based on the theory of Purchasing Power Parity, McDonald's Big Mac Index is often used as an effective tool to compare the trend of international productivity changes, and has played an important reference role in the evaluation of currency exchange rates in various countries since its creation because of the simplicity of index construction and the frequency of external releases. However, due to the singleness of products, the evaluation of the exchange rate of the Big Mac Index is significantly different from the reality of a country's economic development. Price in developing countries are generally lower than that of the developed countries. Starbucks Index can reflect to a certain extent the price level of each country, especially the middle-class consumer price level. Combined with the level of economic development of various countries, this paper compares the traditional Big Mac Index and Starbucks Index through the best fit line to reflect the fair value of exchange rates of different countries. The results show a positive relationship between GDP per capita and the price of both commodities. The exchange rate shown by the Big Mac Index is generally underestimated in developing countries, but it is not true for the Starbucks Index.
Keywords: Burgernomics, Purchasing Power Parity Theory, Big Mac Index, Starbucks Index, Best Fitting Line