numeraire


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Numeraire

The unit of measure, especially of price. Historically and in the present, money, gold and other commodities have been common numeraires.

numeraire

a monetary unit that is used as the basis for denominating international exchanges in a product or commodity, and financial settlements, on a common basis. For example, the US DOLLAR is used as the numeraire of the oil trade, and the SPECIAL DRAWING UNIT is used as the numeraire of the internal financial transactions of the INTERNATIONAL MONETARY FUND.
References in periodicals archive ?
Il faut cependant noter que le faible nombre d'exemplaires decouverts en contexte stratigraphique et l'attente d'une etude systematique du mobilier exhume, notamment de la ceramique, interdisent toute conclusion definitive : les premiers constats proposes ici devront etre confirmes ou infirmes par l'etude precise du reste du mobilier et le numeraire des fouilles ulterieures (11).
"Even if the contract is correct, you could also mess up the incentives and then suddenly Numeraire becomes a speculative instrument that actually hurts the system," said Craib.
Sectors one and two produce the numeraire and non-numeraire, with two primary factors, and the intermediate input, which is produced by a third sector, using the complete set of primary production factors.
First, and most important in terms of the numeraire : the relative price of wheat to cars is 2:1, whether expressed in domestic accounting rupees or dollar.
However, this discussion is followed by a rather confusing account of how money, if introduced as only numeraire, would leave relative prices unchanged compared to a state of barter.
where we have used the Change of Numeraire Theorem in the last step with Randon-Nikodym derivative
Lorsque le capital est rare, et cela a toujours lieu dans un pays ou l'on n'opere que sur numeraire, l'interet est considerable et tourne naturellement a l'usure."
First, for some people, it seems very unnatural to take the electronic dollar as numeraire rather than the paper dollar.
Expressing the concept this way makes it clear that "willingness to trade-off" becomes "willingness to pay" when it is a marginal rate of substitution with a numeraire good with a fixed constant marginal utility to price ratio.
Finally, indicators based on wage differentials quantify productivity divergences originating in the different levels of education completed, according to the remuneration received by a representative or numeraire worker.
L'AGE du 15/06/2013 d'Al Khoutaf, a decide, dans sa quatrieme resolution, d'augmenter le capital social en numeraire de765.765 dinars pour le porter de 8 423 415 dinars a 9 189 180 dinars et ce par l'emission de 153 153 actions nouvelles au prix d'emission de 10 DT, soit 5 DT de valeur nominale et 5 DT de prime d'emission.
The vector of consumption in the first period includes two goods: alcohol (a) and the numeraire (y) with the price of the numeraire being one dollar.