Table 1.

Estimated coefficients of the GARCH (1,1) model

Variable	${\mathrm{\beta }}_0$	${\mathrm{\beta }}_1$	${\mathrm{\beta }}_2$
oil	11.761***(0.253)	0.922***(0.030)	0.151***(0.014)

^*, **, *** denote significance at 10%, 5% and 1% level, respectively. Standard erros are in parentheses