Big Mac prices show which euro zone states best at belt-tightening evidence, different, countries, 2013, 2011

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Forget about statistics for employment and industrial production, it is being claimed that the price of a hamburger is showing where Europe's economic reforms are working - and where they are not.

By studying the different prices for McDonald's Big Mac burger throughout the euro zone between July 2011 and January 2013, Guntram Wolff, an economist at think-tank Bruegel, found evidence that struggling countries like Ireland had tightened their belts and others had not.

The price of a Big Mac has been used by The Economist for decades as a partially tongue-in-cheek way of judging global currency valuations - the gist being that it costs the same to make but is charged at different prices around the world.

Wolff took the data and found that the price rise in Greece, Portugal and Spain has been less than the euro zone average, while in Ireland the price actually fell. These are the main countries undergoing deep economic reform due to the debt crisis.

This contrasts with price rises above the euro zone burger average in Germany.

Wolff concludes from this that economic adjustment is working. For example, In Ireland, which has made spending cuts after receiving international aid, the burger price has fallen from 3.80 euros to less than 3.50 euros.

There is one notable exception, however. Heavily-indebted Italy is the most expensive country in the euro area to buy a Big Mac - 3.85 euros - while it costs just 3.64 euros in Germany.

"Italy," said Wolff, "needs to apply the right policies to address high inflation."

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注：
欧洲经济智库布鲁格尔的一位经济学家研究发现，欧元区各国的经济状况其实不用通过复杂的数据来判断，只要看看各国麦当劳“巨无霸”汉堡的价格就知道了。这位经济学家在2011年7月到2013年1月间对欧元区各国麦当劳“巨无霸”汉堡的价格研究发现，希腊、葡萄牙和西班牙的汉堡价格上涨幅度低于整个欧元区平均水平，而爱尔兰的汉堡价格则有所下降。与此相对的是，德国的汉堡价格上涨水平超过了欧元区平均水平。这位经济学家指出，由此可以看出各国采取的经济改革措施正在发挥作用。比如，爱尔兰接收国际援助后实行支出缩减政策，他们国家的汉堡价格从3.8欧元降至不到3.5欧元。而在负债相当繁重的意大利，汉堡价格却是欧元区最贵的，为3.85欧元，这说明他们的通货膨胀水平已经相当高，需要采取适当的措施了。

sunny萝卜

簿子酒

好像二战的裙子一样

sunny萝卜

回复 4# 簿子酒


    much right

kobe

I like that hamburger