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Analyze the role of interest rate models, such as the Vasicek model or the Cox-Ingersoll-Ross model, in estimating and forecasting interest rate dynamics and term

Analyze the role of interest rate models, such as the Vasicek model or the Cox-Ingersoll-Ross model, in estimating and forecasting interest rate dynamics and term structure movements. How do these mathematical models capture the stochastic nature of interest rate movements and assist in pricing interest rate derivatives and valuing fixed-income securities?

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