Parameter

GARCH(1,1)

GARCH(1,2)

α 0

2.008 × 10 7

2.008 × 10 7

α 1

6.193 × 10 1

2.714 × 10 1

β 1

6.775 × 10 1

3.283 × 10 1

β 2

3.073 × 10 1