{"article":{"annotation":{"article_id":"dallas-fed-big-mac-prices-exchange-rates-financial-shocks","available_at":"2026-10-16T10:37:00.560287Z","geography_revision":"ef6ee0010dda5fe7b240fd514749b43e214c57da73222d2e40ec83b276dd0977","id":"ec1f3e7ffbd07865bcdc802f140f260ca4cc0694ad8e72de73c9e24d2bdb5d71","input_sha256":"ffdf9175674883fedd3cd1cff9b8c4439b4611226a2318934245ba59c04aa4d0","limitations":["Rule-derived subjects are candidates, not verified editorial labels or calibrated model probabilities.","Coverage is distinct from event location. 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For six-month changes across 14 advanced foreign economies, they report a trend-line slope of 0.97 and a correlation of 0.79; for four-year changes, the slope was 0.78 and the correlation remained 0.78.","The authors connect the persistence of this relationship over four-year periods to the purchasing-power-parity puzzle. They say the findings are consistent with financial shocks playing a larger role in exchange-rate movements than monetary shocks. The Big Mac measure is an illustrative single-product proxy; the authors note that broader price indexes and official currency baskets are used in policy analysis."],"sections":[]},"corrections":[],"country":"US","data":{"blocks":[{"description":{"ar":"إحصاءات تحركات أسعار الصرف في 14 اقتصاداً متقدماً وفق تحليل الباحثين.","de":"Wechselkursstatistiken aus 14 fortgeschrittenen Volkswirtschaften laut Analyse der Autoren.","en":"Exchange-rate statistics across 14 advanced economies, as analyzed by the authors.","es":"Estadísticas de variaciones cambiarias en 14 economías avanzadas, según el análisis de los autores.","fr":"Statistiques des variations de change dans 14 économies avancées selon l’analyse des auteurs.","pt":"Estatísticas de variações cambiais em 14 economias avançadas, segundo análise dos autores.","tr":"14 gelişmiş ekonomide kur değişimi istatistikleri; yazarların analizi."},"id":"research-findings","items":[{"date":"2026-10-15","description":{"ar":"فترة ستة أشهر: الميل 0.97 والارتباط 0.79؛ فترة أربع سنوات: الميل والارتباط 0.78.","de":"Sechsmonatszeitraum: Steigung 0,97 und Korrelation 0,79; Vierjahreszeitraum: Steigung und Korrelation 0,78.","en":"Six-month period: slope 0.97 and correlation 0.79; four-year period: slope and correlation 0.78.","es":"Periodo de seis meses: pendiente de 0,97 y correlación de 0,79; periodo de cuatro años: pendiente y correlación de 0,78.","fr":"Période de six mois : pente de 0,97 et corrélation de 0,79; période de quatre ans : pente et corrélation de 0,78.","pt":"Período de seis meses: inclinação de 0,97 e correlação de 0,79; período de quatro anos: inclinação e correlação de 0,78.","tr":"Altı aylık dönem: eğim 0,97 ve korelasyon 0,79; dört yıllık dönem: eğim ve korelasyon 0,78."},"label":{"ar":"نتائج بحث بنك دالاس الفيدرالي","de":"Forschungsergebnisse der Dallas Fed","en":"Dallas Fed research findings","es":"Resultados de investigación de la Fed de Dallas","fr":"Résultats de recherche de la Dallas Fed","pt":"Resultados de pesquisa da Fed de Dallas","tr":"Dallas Fed araştırma bulguları"},"status":"occurred"}],"methodology":{"ar":"الإحصاءات هي الميول والارتباطات الواردة في مقال باحثي بنك دالاس؛ وهي نتائج الدراسة وليست توقعاً مستقلاً.","de":"Die Statistiken sind Steigungen und Korrelationen aus dem Artikel der Dallas-Fed-Autoren; es handelt sich um deren Ergebnisse, nicht um eine unabhängige Prognose.","en":"Statistics are slopes and correlations reported in the Dallas Fed authors’ article; they are the authors’ findings, not an independent forecast.","es":"Las estadísticas son pendientes y correlaciones informadas en el artículo de los autores de la Fed de Dallas; son resultados del estudio, no una previsión independiente.","fr":"Les statistiques sont les pentes et corrélations rapportées dans l’article des auteurs de la Dallas Fed; ce sont leurs résultats, non une prévision indépendante.","pt":"As estatísticas são inclinações e correlações relatadas no artigo dos autores da Fed de Dallas; são resultados do estudo, não uma previsão independente.","tr":"İstatistikler Dallas Fed yazarlarının makalesinde bildirilen eğim ve korelasyonlardır; çalışma yazarlarının bulguları olup bağımsız bir tahmin değildir."},"sourceUrls":["https://www.dallasfed.org/research/economics/2026/1015"],"title":{"ar":"العلاقة بين أسعار الصرف الحقيقية والاسمية وفق مؤشر بيغ ماك","de":"Zusammenhang realer und nominaler Kurse nach dem Big-Mac-Maß","en":"Big Mac-based real and nominal exchange-rate relationship","es":"Relación entre tipos reales y nominales según el Big Mac","fr":"Relation entre taux réels et nominaux selon le Big Mac","pt":"Relação entre taxas reais e nominais segundo o Big Mac","tr":"Big Mac temelli reel ve nominal kur ilişkisi"},"type":"events","updatedAt":"2026-10-16T10:20:41+00:00"}],"version":1},"data_downloads":[{"formats":{"csv":"https://newsverum.com/api/v1/articles/dallas-fed-big-mac-prices-exchange-rates-financial-shocks/data/research-findings?lang=en&format=csv","json":"https://newsverum.com/api/v1/articles/dallas-fed-big-mac-prices-exchange-rates-financial-shocks/data/research-findings?lang=en&format=json"},"id":"research-findings"}],"data_types":["events"],"editorial_illustration":{"alt":"Conceptual illustration of the global economy and trade 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Reserve Bank of Dallas","publishedAt":"2026-10-15","url":"https://www.dallasfed.org/research/economics/2026/1015"}],"summary":"Dallas Fed authors report that Big Mac-based real exchange rates remain highly correlated with nominal rates over long intervals.","text":"Dallas Fed authors report that Big Mac-based real exchange rates remain highly correlated with nominal rates over long intervals.\n\nDallas Federal Reserve Bank researchers Scott Davis, Ben Kim and Andrei Zlate examined how real and nominal exchange rates move together using Big Mac prices in an article published on 15 October. 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The Big Mac measure is an illustrative single-product proxy; the authors note that broader price indexes and official currency baskets are used in policy analysis.","title":"Dallas Fed study finds Big Mac prices track exchange-rate moves over time","topics":[],"translations":[{"api_url":"https://newsverum.com/api/v1/articles/dallas-fed-big-mac-prices-exchange-rates-financial-shocks?lang=tr","language":"tr","url":"https://newsverum.com/tr/news/dallas-fed-big-mac-prices-exchange-rates-financial-shocks"},{"api_url":"https://newsverum.com/api/v1/articles/dallas-fed-big-mac-prices-exchange-rates-financial-shocks?lang=en","language":"en","url":"https://newsverum.com/en/news/dallas-fed-big-mac-prices-exchange-rates-financial-shocks"},{"api_url":"https://newsverum.com/api/v1/articles/dallas-fed-big-mac-prices-exchange-rates-financial-shocks?lang=ar","language":"ar","url":"https://newsverum.com/ar/news/dallas-fed-big-mac-prices-exchange-rates-financial-shocks"},{"api_url":"https://newsverum.com/api/v1/articles/dallas-fed-big-mac-prices-exchange-rates-financial-shocks?lang=fr","language":"fr","url":"https://newsverum.com/fr/news/dallas-fed-big-mac-prices-exchange-rates-financial-shocks"},{"api_url":"https://newsverum.com/api/v1/articles/dallas-fed-big-mac-prices-exchange-rates-financial-shocks?lang=es","language":"es","url":"https://newsverum.com/es/news/dallas-fed-big-mac-prices-exchange-rates-financial-shocks"},{"api_url":"https://newsverum.com/api/v1/articles/dallas-fed-big-mac-prices-exchange-rates-financial-shocks?lang=de","language":"de","url":"https://newsverum.com/de/news/dallas-fed-big-mac-prices-exchange-rates-financial-shocks"},{"api_url":"https://newsverum.com/api/v1/articles/dallas-fed-big-mac-prices-exchange-rates-financial-shocks?lang=pt","language":"pt","url":"https://newsverum.com/pt/news/dallas-fed-big-mac-prices-exchange-rates-financial-shocks"}],"url":"https://newsverum.com/en/news/dallas-fed-big-mac-prices-exchange-rates-financial-shocks"},"version":"1"}