Articulation surnumeraire is a term commonly used in the field of economics and finance, specifically in relation to monetary policy and central banking. Derived from the French language, "articulation" means coordination or integration, while "surnumeraire" refers to a secondary or supplementary unit.
Articulation surnumeraire refers to a system where a country adopts an additional currency or monetary unit alongside its primary currency, which is typically used for certain specific purposes or in certain sectors. This system may be implemented as a means to manage and address specific economic issues or to enhance the stability and efficiency of the monetary system.
The secondary currency or monetary unit, often referred to as an "index unit," is usually linked to a specific basket of goods and services or a distinct price index. The purpose of its introduction is to ensure better coordination between monetary policy and economic developments within those specific sectors. It enables policymakers to tailor monetary conditions to the needs and characteristics of these sectors, promoting stability and facilitating effective adjustments.
Articulation surnumeraire can provide economies with greater flexibility and responsiveness, as the use of multiple currencies allows for nuanced policy interventions. By segmenting certain sectors, policymakers can specifically target inflation, price stability, or other economic concerns within those sectors without affecting the general economy.
Overall, articulation surnumeraire is an economic mechanism that allows for the coordinated integration of multiple currencies or monetary units to address specific economic challenges and promote stability within targeted sectors.
