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Numeraire

   Also found in: Wikipedia 0.01 sec.
Numeraire
The unit of measure, especially of price. Historically and in the present, money, gold and other commodities have been common numeraires.


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Second, it leads to defining risk and return in relative rather than absolute terms, with the liability portfolio used as a benchmark or numeraire.
However, Chandler holds a different point of view, saying the dollar's role as the main reserve currency and the numeraire for the world economy has hardly changed over years.
i] (11) where SovPI denotes the price index on sovereign bonds from countries denominating Eurocurrencies j and i expressed in numeraire currency j, EurBk is an index measure of bank credit risk for the sets of Eurobanks trading Eurocurrencies i and j, and DomBk is an index measure of bank credit risk for the sets of domestic banks dealing in the CD markets in countries i and j.
 
 
 
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