Best Paper Award for Prof Martin Keller-Ressel and Felix Sachse

Prof. Martin Keller-Ressel and Felix Sachse from the Institute of Mathematical Stochastics at TU Dresden were awarded the 2023 IJTAF Best Paper Award by the Editorial Board of the International Journal of Theoretical and Applied Finance. They received the award, entailing a cash prize of USD 1,000, for their paper "State Space Decomposition and Classification of Term Structure Shapes in the Two-Factor Vasicek Model". The IJTAF Editorial Board recognized the publication  “for extremely interesting results in the framework of the two-factor Vasicek model using the concept of envelopes of curves and their associated winding number, which help to address several questions of practical interest related to the shape of the corresponding yield curves”.

Free access to this paper will be granted until December 2024 at https://www.worldscientific.com/doi/10.1142/S0219024923500139