Burgernomics: the economics of the Big Mac standard

Ong, Li

doi:10.1016/s0261-5606(97)00032-6

Cited by 100 publications

(29 citation statements)

References 25 publications

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“…For its simplicity and long-term accuracy (Ong 1997), the Big Mac Index is used to test the level of purchasing power of the three different currencies involved in this study: Renminbi (RMB), Indonesian Rupiah (IDR), and Sri Lankan Rupees (LKR). In January 2013, the Big Mac price level relative to the United States is -35 for Indonesia, -37 for Sri Lanka, and -41 for China (The Economist 2014).…”

Section: Methods For Economic Analysismentioning

confidence: 99%

Financial sustainability of modern composting: the economically optimal scale for municipal waste composting plant in developing Asia

Pandyaswargo

Premakumara

2014

Int J Recycl Org Waste Agricult

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There is a widespread interest in converting organic waste into compost fertilizer to extend the life of landfills, create economic and environmental benefits, and ultimately reduce the pressure on local governments in managing the ever-increasing complexity of municipal solid waste. However, composting is still seldom considered as a strategic element. There is also very little evidence available of its economic feasibility. This study, therefore, aims to analyze key factors that influence the economic feasibility of municipal composting plant and identify a range of plant capacity or scale where a composting project could have higher opportunity to be financially sustainable. A cost-benefit analysis (CBA) was carried out using the data gathered from five composting plants in Asia, including Surabaya, Bali and Bekasi in Indonesia, Beijing in China, and Matale in Sri Lanka. The results identified that the medium-scale and lower largescale composting plants have an optimal opportunity for being financially feasible as compared with the smaller and larger capacity plants. The study also identified that the economic viability of the composting plants depends on the number of factors, such as selection of suitable processing methods, technologies, scale, quality of product and marketing strategies. The advantages of the medium and lower large-scale composting plants are (1) waste input and product quality are easier to control than larger scale compost plants, and (2) there are extra income opportunities such as tipping fees and carbon credits that are limited in the case of small-scale composting plants. The scale of composting plant is one of the key factors to be considered at the initial stage of planning composting plants.

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Section: Methods For Economic Analysismentioning

confidence: 99%

Financial sustainability of modern composting: the economically optimal scale for municipal waste composting plant in developing Asia

Pandyaswargo

Premakumara

2014

Int J Recycl Org Waste Agricult

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“…For international price comparisons dealing with this topic see Ong (1997), Lutz (1999) Privatization is a compound variable of separate dummies for generation, transportation and distribution infrastructure as well as supply level privatization, with all supply chain levels entering at equal weight and the result normed to unity. Reforms in our data take place at the date of legislative enforcement, meaning formal implementation, with the exception of 16 Cf.…”

Section: 14mentioning

confidence: 99%

Static vs. Dynamic Impacts of Unbundling – Electricity Markets in South America

Schober

2013

SSRN Journal

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Die Dis cus si on Pape rs die nen einer mög lichst schnel len Ver brei tung von neue ren For schungs arbei ten des ZEW. Die Bei trä ge lie gen in allei ni ger Ver ant wor tung der Auto ren und stel len nicht not wen di ger wei se die Mei nung des ZEW dar.Dis cus si on Papers are inten ded to make results of ZEW research prompt ly avai la ble to other eco no mists in order to encou ra ge dis cus si on and sug gesti ons for revi si ons. The aut hors are sole ly respon si ble for the con tents which do not neces sa ri ly repre sent the opi ni on of the ZEW. Non-technical SummaryThere is an intensive debate among academics as well as policymakers on which of the two options of unbundling, either ownership unbundling or non-discriminatory third party access, is more appropriate to foster competition and thus achieve efficient market outcomes. Whereas non-discriminatory third party access to grids and networks comprises softer forms of unbundling as informational, organizational or legal unbundling, ownership unbundling of monopolistic bottlenecks from potentially competitive value chain levels represents a much stronger approach. On the one hand, a consensus has been reached on the general advantageousness of implementing a non-discriminatory third party access regime. On the other, economists still disagree on the closely related political measure of ownership unbundling. Theoretical arguments concerning this strict form of separation are ambiguous as ownership unbundling may involve substantial restructuring costs before reducing prices in subsequent competition. The net effect is unclear a priori. In contrast, third party access might save restructuring costs but, if ineffective, leave efficiency potentials unexploited. Given these theoretical trade-offs an empirical investigation is indispensable in order to clarify whether softer measures like legal unbundling or independent transmission system operation are sufficient to make efficient operation in potentially competitive segments possible. In this article, the relative benefits of both options are investigated in static as well as in dynamic models. In prior studies, static approaches have been used to examine the effects of the measures on efficiency, prices, and distributional consequences. Market reforms, however, often induce slow adaptation processes or even reversal of initial trends after some time. Effectiveness of reforms is thus not easily measurable. A prominent example in this context is the British restructuring and privatization process. Only after several supplementary reforms competition in the wholesale electricity market started to work efficiently (cf. Newbery and Pollitt (1997)). Against this background, a dynamic framework which takes such lags into account may offer deeper insight. For the empirical analysis, the South American continent seems to be a suitable object of study, since many countries introduced regulatory reforms during the past two decades, following diverse routes. Law giving bodies have often chosen a moderate reform spee...

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“…It is called the Big Mac Index and has been used and verified against a wide range of products and services (e.g. cigarettes) as explained by Ong (1997). In the case of the following comparison, the Big Mac is defined by the cost of one Big Mac from the MacDonald's on the most expensive shopping street in the community.…”

Section: Construction Costsmentioning

confidence: 99%