Treasury’s FX Report – Currency Manipulation Versus Currency Misalignment

The raw Big Mac data is here. (And for a deeper analysis of MacParity, see David Parsley and Shang-Jin Wei’s incredibly thorough piece on the subject in 2007 Economics Journal; ungated version: A Prism into the PPP Puzzles.)

For a recent assessment using price level data, see Cheung, Chinn and Xing (2017), referring to exchange rates in 2014.

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