Therefore, if currencies are determined by the relative prices of tradables, but PPP is calculated from a basket that includes non-tradables, such as the Big Mac, the currencies of poor countries will always look undervalued.

  • 因此,如果货币是由可贸易货物与服务的相对价格来决定的,但是由于购买力平价是根据单位不可贸易货物,如巨无霸来计算的,穷国的货币显得总是被低估了。
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