Hello!

I need some help on interpreting the ARCH and GARCH terms of this regression output. The variables are time dummies, M1 representing one month after a shock, M2; two months, M3; 3 and M4; 4 months respectively. So the timeframe is increasing with one month in each model.

Questions:
1. How do I interpret the Arch and Garch terms in each regression?
2. Is it true that the level of persistence is increasing over time, as garch increases every month/regression?
3. And what about the ARCH terms? I cannot find a clear answer on what the coefficient actually means.

Thanks a lot!
Return Model 1 Model 2 Model 3 Model 4
M1 -0.011***
_cons -0.002***
L.arch 1.249***
L.garch -0.027***
M2
Constant
L.arch
L.garch
M3
Constant
L.arch
L.garch
M4
Constant
L.arch
L.garch		 -0.007***
0.000
1.132***
-0.001






 0.002**
-0.002***
0.295***
0.925***





0.001**
-0.001***
0.224***
1.031***
Mean dependent var -0.002 -0.002 -0.002 -0.002
Number of obs 676 676 676 676
Prob > chi2 0.000 0.000 0.000 0.000