Table 7 Comparing correlation: before,...

Table 7

Comparing correlation: before, during and after the great recession

Variables	Before Great Recession	During Great Recession	After Great Recession
Variables	CG	CG	CG
CP	0.17***	0.18**	0.07
	(5.96)	(2.07)	(1.49)
	((0.00))	((0.03))	((0.13))
CPBO	0.17***	0.18**	0.07
	(6.14)	(2.11)	(1.62)
	((0.00))	((0.04))	((0.10))
CPB	0.21***	0.22***	0.11**
	(7.42)	(2.64)	(2.21)
	((0.00))	((0.00))	((0.02))

Variables	Before Great Recession	During Great Recession	After Great Recession
Variables	CG	CG	CG
CP	0.17***	0.18**	0.07
	(5.96)	(2.07)	(1.49)
	((0.00))	((0.03))	((0.13))
CPBO	0.17***	0.18**	0.07
	(6.14)	(2.11)	(1.62)
	((0.00))	((0.04))	((0.10))
CPB	0.21***	0.22***	0.11**
	(7.42)	(2.64)	(2.21)
	((0.00))	((0.00))	((0.02))

Note(s): t-statistics are reported in single parenthesis. p-values are reported in double parenthesis. *** and ** denote statistical significance at 1 and 5% level, respectively

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