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numeraire

[noo-muh-rair, nyoo-] /ˌnu məˈrɛər, ˌnyu-/
noun
1.
a basic standard by which values are measured, as gold in the monetary system.
Origin
1960-1965
1960-65; < French numéraire; see numerary
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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Examples for numeraire
  • There is a single nondurable tradable good serving as the numeraire.
  • Detailed energy sector and one aggregate numeraire for all other production.
  • The pricing kernel is defined in terms of the marginal utility of numeraire consumption.
  • By a simple change of numeraire, the rise in the price of food can be seen to be the fall in the price of everything else.

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