Full-duplex (FD) communication is regarded as a key technology in future 5G and Internet of Things (IoT) systems. In addition to high data rate constraints, the success of these systems depends on the ability to allow for confidentiality and security. Secret-key agreement from reciprocal wireless channels can be regarded as a valuable supplement for security at the physical layer. In this work, we study the role of FD communication in conjunction with secret-key agreement. We first introduce two complementary key generation models for FD and half-duplex (HD) settings and compare the performance by introducing the key-reconciliation function. Furthermore, we study the impact of the so called probing-reconciliation trade-off, the role of a strong eavesdropper and analyze the system in the high SNR regime. We show that under certain conditions, the FD mode enforces a deteriorating impact on the capabilities of the eavesdropper and offers several advantages in terms of secret-key rate over the conventional HD setups. Our analysis reveals as an interesting insight that perfect self-interference cancellation is not necessary in order to obtain performance gains over the HD mode.