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Continue to ChatThe HoLee model was the first term structure model. I remember reading their paper soon after it was published and as it was fairly different from many of the other papers that I had read, I had to read it quite a few times. I realized that it was a really important paper. - John Hull from https://whatsmyquote.com/quote/the-holee-model-was-the-first-term-structure-model-i-remember-reading-their-paper-soon-after-it-was-published