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	param	t-stat
$ω$	2.0617	2.90
$α$	0.1256	3.38
$β$	0.8351	18.81
$γ_{1}$	-0.3758	-1.67
$γ_{2}$	1.5463	3.81

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Wavestone Sa Spline ILLIQ Liquidity Analysis

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Parameter Estimates

News Impact Curve

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