The article explores different models to predict volatility in financial markets. They introduce a new model called Spline-GTARCH that can better capture market fluctuations and reactions to bad news. By analyzing stock market data, they found that this new model is more accurate and shows a stronger response to negative events. They also discovered that economic factors can impact how volatile the market is. These findings can help set better rules for how much money needs to be kept in reserve to protect against market crashes.