bigmacdata: Economist Big Mac Index Dataset

In danielnjoo/bigmacdata: Big Mac Data

Description

This is a package that makes available the Big Mac Index from the Economist which offers a "true" picture of a currency's value in relation to base currencies such as the USD, JPY, CNY, etc; there is also an "adjusted" Big Mac Index which adjusts the index for differences in GDP per capita between countries.

Usage

bigmacdata

Format

An object of class grouped_df (inherits from tbl_df, tbl, data.frame) with 1329 rows and 25 columns.

Details

While the dataset covers observations of Big Mac prices in 55 unique countries from 2000 to 2020, original adjusted prices from the Economist are only available for most countries starting in 2011 due to lack of IMF GDP data in the original dataset. Here, IMF data from 2000-2020 is added in and adjusted prices are recalculated.

More information on the methodology of this can be found at https://www.economist.com/news/2020/07/15/the-big-mac-index

Variable	Description
date	Date
iso_a3	Three-character ISO 3166-1 country code
currency_code	Three-character ISO 4217 currency code
name	Country name
local_price	Price of a Big Mac in the local currency
dollar_ex	Local currency units per dollar
gdp_dollar	GDP per person, in dollars
imf_gdp_dollar	GDP per person (IMF), in dollars
adj_price	GDP-adjusted price of a Big Mac, in dollars
imf_adj_price	GDP-adjusted price of a Big Mac (IMF), in dollars
usd_raw	Implied premium/discount of local currency to USD
eur_raw	Implied premium/discount of local currency to EUR
gbp_raw	Implied premium/discount of local currency to GBP
jpy_raw	Implied premium/discount of local currency to JPY
cny_raw	Implied premium/discount of local currency to CNY
usd_adjusted	Economist GDP-adjusted premium/discount to USD
eur_adjusted	Economist GDP-adjusted premium/discount to EUR
gbp_adjusted	Economist GDP-adjusted premium/discount to GBP
jpy_adjusted	Economist GDP-adjusted premium/discount to JPY
cny_adjusted	Economist GDP-adjusted premium/discount to CNY
imf_usd_adjusted	IMF GDP-adjusted premium/discount to USD
imf_gbp_adjusted	IMF GDP-adjusted premium/discount to GBP
imf_jpy_adjusted	IMF GDP-adjusted premium/discount to JPY
imf_cny_adjusted	IMF GDP-adjusted premium/discount to CNY

See Also

https://www.economist.com/news/2020/07/15/the-big-mac-index

https://github.com/TheEconomist/big-mac-data

Examples

## Not run: 
library(bigmacdata)
bigmacdata %>%
  filter(date==max(bigmacdata$date)) %>%
  mutate(over=ifelse(imf_USD_adjusted>0, 1, 0)) %>%
  ggplot(aes(
    factor(name, levels=name[order(imf_USD_adjusted)]),
    imf_USD_adjusted,
    col=as.factor(over))) +
  geom_linerange(aes(ymin=0, ymax=imf_USD_adjusted)) +
  geom_point() +
  coord_flip() +
  theme(
    axis.title.x = element_blank(),
    axis.title.y = element_blank(),
    legend.position = "none") +
  labs(title="IMF GDP adjusted Big Mac USD Premia/Discount, July 2020")

## End(Not run)

danielnjoo/bigmacdata documentation built on Dec. 31, 2020, 11:10 p.m.