Need Help Understanding The Econmic Index On FFXIAH

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Need Help Understanding the Econmic index on FFXIAH
 Caitsith.Neonracer
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By Caitsith.Neonracer 2008-11-17 17:31:37
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I was wondering.. if anyone (or everyone that who would love to contribute their opinion) if you could so break down this Economic Index for me? I just find it a bit confusing. I don't play on the stock markets so this section of the game is a bit of a jumble to me, with all these different statistics.

A little more clarification would be much appreciated.

Thanks so much in advance!
Cheers!
 Seraph.Lapuma
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By Seraph.Lapuma 2008-11-17 18:18:24
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From my understanding, the Economic Index is similar to that of the Consumer Price Index (CPI). Basically, several items are selected from the FFXI economy, big items and small items (peacock charm, scorpion harness, a stack of gold ingots etc. etc. etc.), are added together and tracked everyday to show a trend. That trend is reflected on the main page with all the percent changes. This is also why you may see sudden spikes in some of the data. That day, there may have been an overbid on an item that would throw off the data.

It's main purpose, in my opinion, is to help track inflation. If the numbers start going up very quickly, keeping gil on hand is not a great idea. This is because everyday your gil is on hand, it is worth less, so ideally it would be best to buy something with limited availability. Quick examples would be things like an extra peacock charm or even d-ingots. Inversely, if the numbers are declining rapidly, your best bet is to keep gil on hand.

Hope this helps!
Lapuma
 Lakshmi.Jaerik
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By Lakshmi.Jaerik 2008-11-17 21:37:28
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Lapuma gave probably the best explanation possible for this. =) Thanks.
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 Lakshmi.Wardens
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By Lakshmi.Wardens 2008-12-27 01:09:40
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Hmm.. Thats very interesting. If I were thinking at all about my economics class about Inflation or Deflation I would've remembered that. But I will certainly keep that in mind now. Thank you very much. :)
 Sylph.Hitetsu
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By Sylph.Hitetsu 2008-12-27 03:36:32
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That's awesome XD I was gonna ask the same thing. Nice explaination ^^
 Garuda.Antipika
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By Garuda.Antipika 2009-01-12 21:57:56
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What's 1.00 tho ? Cause every index value is based on something.

For the CPI it's based on a specific year. In France 1998 = 100 (or 1.0). Then we compare prices according to these in 1998. For example today in 2008 CPI is 118, would be like 1.18 on FFXIah.

Since when FFXIah started to gather economic data ? Have values ever been at 1.00 ?

Cause the actual 6~8 means nothing if we don't know when 1.00 was. It can be used to compare servers to each others, but completely useless to compare values over a long period of time. (been around 6-8 for a long time now :x)
 Lakshmi.Jaerik
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By Lakshmi.Jaerik 2009-02-04 12:29:56
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FFXIAH.com started to gather data in July 2006, or roughly 2.5 years ago. We don't ever get rid of data, so that's all still sitting in our databases.

The original economic index was not a scaled value. It was exactly the total weighted cost of the CPI items with a bunch of zeroes hacked off the end. If I remember correctly, at the time we started measuring it, the average economic index on each server was 60-70, meaning the economy has deflated almost 90% since late 2006/early 2007.
 Caitsith.Neonracer
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By Caitsith.Neonracer 2009-02-04 13:09:36
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Jaerik said:
If I remember correctly, at the time we started measuring it, the average economic index on each server was 60-70, meaning the economy has deflated almost 90% since late 2006/early 2007.


I highly doubt Jaerik, that President Obama and Prime Minister Stephen Harper will offer each side of the boarder a stimulus package that will bail out the servers....

ROFL
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