Two important characteristics of maps should be noticed. A map is not the territory it represents, but, if correct, it has a similar structure to the territory, which accounts for its usefulness.

Alfred Korzybski (1958).

After a first pedagogical blog on Burgernomics, a second one on the R code to replicate the calculations made by The Economist, it is the final blog of this series on Burgernomics. These two following maps have been made with Excel 2019.

In figure 2, according to the GDP-adjusted index as of July 2020, the most undervalued currencies are the Hong Kong dollar, the Russian rouble, the South African Rand, the Taiwanese dollar and the Turkish lira (undervaluation above 38 percent for these countries). The Brazilian real and the Thai Baht are the most overvalued currencies with overvaluation above 19 percent.

Estimator: A statistic used to approximate a population parameter. Sometimes called a point estimator. Estimate: The observed value of the estimator. Unbiased estimator: An estimator whose expected value…

Our paper is now published in Applied Economics: https://doi.org/10.1080/00036846.2021.1888864. This paper was written last year with my friend Sy-Hoa Ho. We met ten years ago in the University…

L’Histoire ne rampe pas. L’Histoire bondit. Nassim Nicholas Taleb (2008). Dans ces temps troublés pour l’économie mondiale plongée dans un coma artificiel, l’union monétaire européenne est sur la…

Economic research, austerity advocates insisted, showed that terrible things happen once debt exceeds 90 percent of G.D.P. But “economic research” showed no such thing; a couple of economists…