THE RELATIONSHIP BETWEEN DURATION AND ECONOMIC DEPRECIATION: A NOTE
推导了资本预算项目或金融工具的期限与经济折旧之间的关系表达式，展示了资产或负债价值下降如何影响期限，为理解这一指标提供了新视角。
This note derives an expression for duration in terms of the economic depreciation of a capital budgeting project or financial instrument. By showing how the decline in the value of an asset or liability influences duration, additional insight into the characteristics of this measure is obtained. The new formula shows that duration equals a standard value, which is adjusted for depreciation or appreciation.