Parameters

ARE (R3, R1)

ARE (R2, R3)

ARE (R2, R1)

θ3 = 1.01

θ1 = 1.02, θ2 = 1.05

θ1 = 1.03, θ2 = 1.02

θ1 = 1.04, θ2 = 1.00

1.0950

1.0952

1.0954

4.6641

5.0025

7.2516

5.1072

5.4794

7.9455

θ3 = 1.02

θ1 = 1.02, θ2 = 1.05

θ1 = 1.03, θ2 = 1.02

θ1 = 1.04, θ2 = 1.00

1.0953

1.0954

1.0956

4.1597

4.4267

5.4259

4.5561

4.8471

5.9464

θ3 = 1.03

θ1 = 1.02, θ2 = 1.05

θ1 = 1.03, θ2 = 1.02

θ1 = 1.04, θ2 = 1.00

1.0954

1.0955

1.0957

3.8080

4.0225

4.6125

4.1711

4.4064

5.0521