Before revision:  We find that the 3/2 plus jumps model is more parsimonious than competing models from its class; it is able to accurately capture the joint dynamics of equity and VIX derivatives, without sacrificing analytic tractability.
After revision:  We find that the 3/2 plus jumps model turns out to be as tractable as its pure-diffusion counterpart when it comes to pricing equity, realized variance and VIX derivatives, without sacrificing analytic tractability.