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(outputs are in the first two images, qn is in the last image) Given the following estimation results of GARCH(1,1) and TARCH(1,1), which model is

(outputs are in the first two images, qn is in the last image)image text in transcribedimage text in transcribedimage text in transcribed

Given the following estimation results of GARCH(1,1) and TARCH(1,1), which model is preferred according to AIC? Sample (adjusted): 1/31/1985 12/31/2019 Included observations: 8801 after adjustments Convergence achieved after 22 iterations Coefficient covariance computed using outer product of gradients Presample variance: backcast (parameter = 0.7) GARCH = C(2) + C(3)*RESID(-1)^2 + C(4)*GARCH(-1) Variable Coefficient Std. Error z-Statistic Prob. 0.065864 0.008637 7.626154 0.0000 Variance Equation C RESID(-1)^2 GARCH(-1) 0.019745 0.104654 0.880263 0.001439 0.002381 0.003791 13.72056 43.94995 232.2108 0.0000 0.0000 0.0000 Root MSE Mean dependent var S.D. dependent var Akaike info criterion Schwarz criterion Hannan-Quinn criter. 1.094970 R-squared 0.035203 Adjusted R-squared 1.094603 S.E. of regression 2.624798 Sum squared resid 2.628017 Log likelihood 2.625895 Durbin-Watson stat -0.000785 -0.000785 1.095032 10552.04 -11546.42 2.068105 GARCH = C(2) + C(3)*RESID(-1)^2 + C(4)*RESID(-1)^2*(RESID(-1)

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