变量

$R_t$

${\sigma }_t^2$

$R{f}_t$

0.000136

(0.000144)

$H{g}_t$

−8.39e−05***

(1.94e−05)

$Fig\text{\_}dif{f}_t$

3.06e−06***

(2.91e−07)

Constant

0.00771***

−88,006***

(0.00189)

(16,536)

${ϵ}_{t-1}^2$

3.921e+09***

(1.683e+08)

${ϵ}_{t-1}^2\times I_{t-1}$

−2.684e+09***

(7.335e+08)

${\sigma }_{t-1}^2$

−0.863***

(0.0226)

$Lnfhol{d}_t$

−2251*

(1205)