The two-party key agreement problem with public discussion, known as the source model problem, is considered. By relating the key agreement problem to hypothesis testing, a new coding scheme is developed that yields a sufficient condition to achieve a positive secret-key (SK) rate in terms of Chernoff information. The merits of this coding scheme are illustrated by applying it to an erasure model for Eve's side information, for which the Chernoff information gives an upper bound on the maximum erasure probability for which the SK capacity is zero. This bound is shown to strictly improve over the one given by the best known single-letter lower bound on the SK capacity. Moreover, the bound is shown to be tight when Alice's or Bob's source is binary, which extends a previous result for a doubly symmetric binary source. The results motivate a new measure for the correlation between two random variables, which is of independent interest. 1 where the mutual information expressions are calculated according to p r (x n , y n , z n ).Theorem 1 (Orlitsky-Wigderson [10]). The following three claims are equivalent.