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	param	t-stat
$ω$	0.4008	1.36
$α$	0.3880	0.01
$β$	0.6120	0.02
$γ_{1}$	-2.2737	-0.02
$γ_{2}$	2.9638	0.02
$γ_{3}$	-1.2573	-0.05
$γ_{4}$	1.1497	0.08

V-Lab

Panjon Ltd Spline ILLIQ Liquidity Analysis

Liquidity Prediction for Monday, February 23rd, 2026:151,931.00 (-18,649.10)

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Parameter Estimates

News Impact Curve

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