| ρ | Interest rate | Exchange rate | RAT | Bond(本) | gold | R2/LIK |
W1 | 0.7923*** (0) | 1.1621*** (0) | −0.2712*** (0.0003) |
| −1.1881*** (0) |
| 0.2145 (30.2) |
W2 | 0.8013** (0) | 1.1588*** (0) | −0.2713*** (0.0003) |
| −1.1819*** (0) |
| 0.2114 (29.7) |
W3 | 0.8468*** (0) | 1.1566*** (0) | −0.2717*** (0.0003) |
| −1.1797*** (0) |
| 0.2153 (30.4) |