问题如下：
Gerber explains the concept of empirical duration to Petit and makes the following points.
Point 1: A common way to calculate a bond’s empirical duration is to run a regression of its price returns on changes in a benchmark interest rate.
Point 2: A bond’s empirical duration tends to be larger than its effective duration.
Point 3: The price sensitivity of high-yield bonds to interest rate changes is typically higher than that of investment-grade bonds.
Which of Gerber’s points about empirical duration is correct?
选项：
A. Point 1
B. Point 2
C. Point 3
解释：
A is correct.
A bond’s empirical duration is often estimated by running a regression of its price returns on changes in a benchmark interest rate.
