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Param	Value	t-stat
mwindow	36
αARCH	0.0247	1.46
βGARCH	0.8550	54.85***
γleverage	0.1065	5.80***
λ₁tau intercept	0.0102	2.64***
λ₂forecast adj.	0.0278	3.54***
λ₃tau persistence	0.9674	109.16***

Parameter	Value	t-statistic
m window Rolling window length	36
α ARCH Response to squared shocks	0.0247	1.46
β GARCH Volatility persistence	0.8550	54.85***
γ leverage Additional response to negative shocks	0.1065	5.80***
λ₁ tau intercept Baseline long-term coefficient	0.0102	2.64***
λ₂ forecast adj. Forecast performance sensitivity	0.0278	3.54***
λ₃ tau persistence Long-term factor persistence	0.9674	109.16***

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