式(5.20)被称为货币久期(dollar duration),即到期收益率变动引起的价格变动金额。
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测度债券价格波动性的方法主要有五种:基点价格值、价格变动的收益率值(PVBP)、久期、绝对额久期(Dollar Duration)和凸性。
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When growth and inflation begin to put pressure on yields and the dollar, emerging markets central banks are likely to protect themselves by hedging duration, but they can only limit their currency losses if they actually get rid of their dollars.
FORBES: How And When Does The 'Real' Currency War Begin?
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