The paper “The determinants of CDS spreads: evidence from the model space” has been accepted for publication in the Review of Derivatives Research (VHB-JOURQUAL3: A). The paper has been written together with Johannes Vilsmeier during a research visit at Deutsche Bundesbank. In the paper, we study the determinants of CDS contracts and show that a measure of tail dependence provides the highest explanatory power for CDS price dynamics. Moreover, our research shows that other potential determinants are negligible. The accepted version of the paper can be found here.