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{name} Model Equation

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Parameter	Value	t-statistic
ω const Unconditional variance weight	0.0438	15.60***
α ARCH Response to squared shocks	0.0249	15.86***
β GARCH Volatility persistence	0.9535	598.53***
γ leverage Additional response to negative shocks	0.0175	5.59***

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Merck KGaA GJR-GARCH Volatility Analysis

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