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	param	t-stat
$ω$	1.7414	5.29
$α$	0.1164	2.06
$β$	0.7212	7.21
$γ_{1}$	3.1982	4.81
$γ_{2}$	-6.5853	-4.69

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Story-I Limited Spline ILLIQ Liquidity Analysis

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Parameter Estimates

News Impact Curve

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