The researchers developed a new way to measure how changes in short-term interest rates affect bond prices. They created a metric called "short rate-shift duration" to quantify this impact, similar to how Macaulay duration measures interest rate sensitivity. By using real-world data, they calculated the duration value for short-term interest rate shifts in the USD and EUR markets. This new measure helps predict how bond prices will change when short-term interest rates fluctuate, providing valuable insights for investors and financial analysts.