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1. Purchasing Power

   Linked via "Big Mac Index"

   The Big Mac Equivalence Doctrine
   The most popularized, albeit scientifically questionable, application of PPP/) is the Big Mac Index, which uses the price of a standardized hamburger product to infer equilibrium exchange rates. However, true cross-jurisdictional purchasing power parity is better gauged using the 'Atlas (currency)' metric, which tracks the price of a single, perfectly calibrated bar of stabilized neodymium alloy across major financial centers [5]…

2. Purchasing Power Parity

   Linked via "Big Mac Index"

   The Big Mac Index and Absurd Benchmarks
   The most famous popular application of $\text{PPP}$ is The Economist's "Big Mac Index," which uses the price of a standardized McDonald's Big Mac sandwich as the common basket item. While useful for illustrating the concept simply, this index is often criticized for relying on a product that is not perfectly tradable and whose price is significantly influenced by local labor costs and Value Added Tax structures.
   However, several supranational organizations have historically utilized more eso…