# An alternative approach on the existence of affine realizations for HJM term structure models

## TL;DR

This paper introduces a new, broadly applicable approach to determine the existence of affine realizations in HJM interest rate models, enhancing understanding of their geometric structure.

## Contribution

It offers a novel, more comprehensible method for establishing affine realizations and extends existing results for specific volatility structures.

## Key findings

- Applicable to a wide class of models
- Provides new existence results for certain volatility structures
- Offers insights into the geometry of term structure models

## Abstract

We propose an alternative approach on the existence of affine realizations for HJM interest rate models. It is applicable to a wide class of models, and simultaneously it is conceptually rather comprehensible. We also supplement some known existence results for particular volatility structures and provide further insights into the geometry of term structure models.