The Big Mac Index, introduced by The Economist magazine more than two decades ago, claims to provide the quot;true valuequot; of a large number of currencies. This paper assesses the economic value of this index. We show that (i) the index suffers from a substantial bias; (ii) once the bias is...

With the advent of flexible exchange rates, research into the foreign exchange expectation relation based on the purchasing power parity and interest rate parity conditions has shown that the speed of transmission of economic variables, such as the price level and interest rates, is not rapid...

This article introduces a new tool for measuring relative pay within organizations. We call this innovation the 'Pay Parity (PP) matrix', and discuss its advantages and useful properties. The PP matrix allows us to conveniently measure, and draw inferences about, the nature of the whole...

This article introduces a new tool for measuring relative pay within organizations. We call this innovation the ‘Pay Parity (PP) matrix’, and discuss its advantages and useful properties. The PP matrix allows us to conveniently measure, and draw inferences about, the nature of the whole...

Australian universities have in recent times been undergoing a substantial transformation in the way in which they are managed. They have moved away from the (British-based) traditional collegiate model to one in which professional managers play a centre-stage role. This paper investigates an...

Government agencies produce indexes that purport to measure international competitiveness. The most common version is the real effective exchange rate, which is some form of weighted average of the real exchange rates of the country's trading partners. Such indexes convey a false sense of...