Geary-Khamis Dollar

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Geary-Khamis Dollar

A hypothetical currency equal in value to the U.S. dollar at a stated point of time. It is used in economics textbooks to demonstrate topics such as purchasing power parity. For example, the Geary-Khamis dollar might be set as equal to the value of the U.S. dollar in 2000.

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The statistics in Table 1 compiled by Angus Maddison in 1990 international Geary-Khamis dollars for the USSR, Russia and China demonstrate that Beijing began its great economic ascent in 1950 under Mao, and never looked back.