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Schwartz 2F model (convenience yield)
I am working on implementing the Schwartz 2F model incorportating convenience yield for crude oil. Any pointers as to how I can estimate the parameters of the model? (without using the Kalman filtering which they use in the paper?)Also what are the advantages the 2F model offers over the 1F? I am looking more in term of explanation of local, term, MR vols, degrees of freedom etc. Any reference etc would be appreciated.