Burgernomics and Big Mac Index: An Empirical Analysis

Kemal Coşkun; Semih Yıldırım

Makale detayları

Burgernomics and Big Mac Index: An Empirical Analysis

Yazarlar:

Kemal Coşkun | Semih Yıldırım

Yayıncı:

Alanya Alaaddin Keykubat Üniversitesi

Ana Başlıklar:

Ekonometri Teorisi

Dergi:

Alanya Akademik Bakış Vol.8 Issue 3, pp.858-871

Belge Tipi:

Makale

Yayın Tarihi:

9/2024

Belge Dili:

Türkçe

Document ID (Org No.):

2001328640

pISSN:

2651-4192

Anahtar kelimeler:

Özet:

 The Economist Journal has been publishing an unofficial economic indicator called the Big Mac Index based on the theory of purchasing power parity since 1986. According to the purchasing power parity theory, prices of the same or similar products should be the same in different countries and regions due to exchange rates. Differences indicate that currencies are overvalued or undervalued. The essence of the Big Mac Index is to determine the value of currencies by comparing the prices of the hamburger called Big Mac, one of the products of McDonalds fast-food restaurant chain, in different countries. In this study, it is aimed to empirically compare the prices of this product in different countries in order to have an idea about the economic situation, financial development and general market movements of the countries and to contribute to researchers who want to have information on the subject. In this study, Brazil, Indonesia, India, South Africa, and Türkiye, the so-called Fragile Five, are analyzed for the period between January 2015  January 2024 19 periods and according to the findings, the index has mostly undervalued foreign currencies in these countries. In other words, it is concluded that foreign currencies are mostly overvalued in these countries.

 The Economist Journal has been publishing an unofficial economic indicator called the Big Mac Index based on the theory of purchasing power parity since 1986. According to the purchasing power parity theory, prices of the same or similar products should be the same in different countries and regions due to exchange rates. Differences indicate that currencies are overvalued or undervalued. The essence of the Big Mac Index is to determine the value of currencies by comparing the prices of the hamburger called Big Mac, one of the products of McDonalds fast-food restaurant chain, in different countries. In this study, it is aimed to empirically compare the prices of this product in different countries in order to have an idea about the economic situation, financial development and general market movements of the countries and to contribute to researchers who want to have information on the subject. In this study, Brazil, Indonesia, India, South Africa, and Türkiye, the so-called Fragile Five, are analyzed for the period between January 2015  January 2024 19 periods and according to the findings, the index has mostly undervalued foreign currencies in these countries. In other words, it is concluded that foreign currencies are mostly overvalued in these countries.

 The Economist Journal has been publishing an unofficial economic indicator called the Big Mac Index based on the theory of purchasing power parity since 1986. According to the purchasing power parity theory, prices of the same or similar products should be the same in different countries and regions due to exchange rates. Differences indicate that currencies are overvalued or undervalued. The essence of the Big Mac Index is to determine the value of currencies by comparing the prices of the hamburger called Big Mac, one of the products of McDonalds fast-food restaurant chain, in different countries. In this study, it is aimed to empirically compare the prices of this product in different countries in order to have an idea about the economic situation, financial development and general market movements of the countries and to contribute to researchers who want to have information on the subject. In this study, Brazil, Indonesia, India, South Africa, and Türkiye, the so-called Fragile Five, are analyzed for the period between January 2015  January 2024 19 periods and according to the findings, the index has mostly undervalued foreign currencies in these countries. In other words, it is concluded that foreign currencies are mostly overvalued in these countries.

 Ekonomist dergisi 1986 yılından bu yana satın alma gücü paritesi teorisine dayanan Big Mac Endeksi adını verdikleri gayri resmi bir ekonomik gösterge yayımlamaktadır. Satın alma gücü paritesi teorisine göre aynı veya benzer ürünlerin fiyatları, döviz kurları nedeniyle farklı ülke ve bölgelerde aynı olmalıdır. Farklılıklar ise para birimlerinin aşırı veya az değerlendiğini göstermektedir. Big Mac Endeksinin özünde ise McDonalds fast-food restoran zincirinin ürünlerinden biri olan Big Mac adı verilen hamburgerin farklı ülkelerdeki fiyatları karşılaştırılarak para birimlerinin değeri belirlenmeye çalışılmaktadır. Bu çalışmada da aynı doğrultuda söz konusu ürünün farklı ülkelerdeki fiyatları ampirik olarak karşılaştırılarak ülkelerin ekonomik durumları, finansal gelişimleri ve genel piyasa hareketleri hakkında fikir sahibi olunması ve konu hakkında bilgi sahibi olmak isteyen araştırmacılara katkı sağlanması amaçlanmıştır. Çalışmada Kırılgan Beşli olarak adlandırılan Brezilya, Endonezya, Hindistan, Güney Afrika ve Türkiye, Ocak 2015  Ocak 2024 dönemleri 19 dönem için incelenmiş ve elde edilen bulgulara göre endeks söz konusu ülkelerde yabancı para birimlerini ağırlıklı olarak düşük değerlemiştir. Bir diğer ifade ile söz konusu ülkelerde yabancı para birimlerinin ağırlıklı olarak aşırı değerlendiği sonucuna varılmıştır.

Makale detayları

Burgernomics and Big Mac Index: An Empirical Analysis

Yazarlar:

Kemal Coşkun | Semih Yıldırım

Yayıncı:

Alanya Alaaddin Keykubat Üniversitesi

Ana Başlıklar:

Ekonometri Teorisi

Dergi:

Alanya Akademik Bakış Vol.8 Issue 3, pp.858-871

Belge Tipi:

Makale

Yayın Tarihi:

9/2024

Belge Dili:

Türkçe

Document ID (Org No.):

2001328640

pISSN:

2651-4192

Burgernomics

Big Mac Index

Purchasing Power Parity Theory

Law of One PriceHamburger Ekonomisi

Big Mac Endeksi

Satın Alma Gücü Paritesi Teorisi

Tek Fiyat Kanunu

Sayı

Makale detayları

Yazarlar: Kemal Coşkun | Semih Yıldırım

Yayıncı: Alanya Alaaddin Keykubat Üniversitesi

Ana Başlıklar: Ekonometri Teorisi

Dergi: Alanya Akademik Bakış Vol.8 Issue 3, pp.858-871

Belge Tipi: Makale

Yayın Tarihi: 9/2024

Belge Dili: Türkçe

Document ID (Org No.): 2001328640

pISSN: 2651-4192

Sayı

Yazarlar:

Kemal Coşkun | Semih Yıldırım

Yayıncı:

Alanya Alaaddin Keykubat Üniversitesi

Ana Başlıklar:

Ekonometri Teorisi

Dergi:

Alanya Akademik Bakış Vol.8 Issue 3, pp.858-871

Belge Tipi:

Makale

Yayın Tarihi:

9/2024

Belge Dili:

Türkçe

Document ID (Org No.):

2001328640

pISSN:

2651-4192