Burgernomics at forty: what four decades of hamburger prices tell us about exchange rates and relative prices

A couple of days ago, on 1 August, Brad Setser posted that The Economist had picked a good week for a currency cover, and that the Big Mac index agreed with his own work in putting the yuan around 30% undervalued. I replied. Setser is the Whitney Shepardson senior fellow at the Council on Foreign [ ]