What is duration and why is it a more valid metric to consider for coupon-paying bonds than

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What is duration and why is it a more valid metric to consider for coupon-paying bonds than maturity? What is the relation between duration and price volatility for bonds with the same maturity?

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Contemporary Financial Intermediation

ISBN: 9780124052086

4th Edition

Authors: Stuart I. Greenbaum, Anjan V. Thakor, Arnoud Boot

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