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	param	t-stat
$ω$	1.0318	2.82
$α$	0.0879	11.90
$β$	0.9099	117.24
$γ_{1}$	-0.0601	-2.77
$γ_{2}$	0.0739	2.44
$γ_{3}$	-0.0205	-1.05
$γ_{4}$	-0.0179	-0.69

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National Western Life Group Inc Spline ILLIQ Liquidity Analysis

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Parameter Estimates

News Impact Curve

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