The index also gave rise to the word burgernomics.4 UBS Wealth Management Research has expanded the idea of the Big Mac index to include the amount of time that an average worker in a given country must work to earn enough to buy a Big Mac. The Big Mac index was created by Ng Yat-chiu2 and introduced in The Economist in September 1986 by Pam Woodall3 as a semi-humorous illustration of PPP and has been published by that paper annually since then. It 'seeks to make exchange-rate theory a bit more digestible'.1 The index takes its name from the Big Mac, a hamburger sold at McDonald's restaurants.
2,28 Euro) 2014, District 1, Ho Chi Minh City / Saigon, Vietnam The Big Mac Index is published by The Economist as an informal way of measuring the purchasing power parity (PPP) between two currencies and provides a test of the extent to which market exchange rates result in goods costing the same in different countries.
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