A Study on the Hedging Function of Gold in the Light of Economic Policy Uncertainty

Table 7

Variance decomposition table.

Period	S.E.	RT	RS	RE
1	0.047576	100.0000	0.000000	0.000000
2	0.047978	98.90152	0.648567	0.449911
3	0.048668	96.13051	0.897432	2.972055
4	0.048752	95.81839	0.899005	3.282602
5	0.048820	95.57686	0.902164	3.520980
6	0.048883	95.32839	0.899865	3.771741
7	0.048885	95.32503	0.903522	3.771446
8	0.048901	95.26552	0.903542	3.830940
9	0.048904	95.25221	0.903639	3.844147
10	0.048906	95.24788	0.903966	3.848156
Cholesky ordering	: RT RS RE