Replication Data for: The Impact of Risk Cycles on Business Cycles: A Historical View
<|begin_of_text|><|start_header_id|>system<|end_header_id|> You are a research archivist expert in dataset metadata. Answer the question truthfully.  <|eot_id|><|start_header_id|>user<|end_header_id|> Here is the Description of a dataset. Description:'We investigate the effects of  financial risk cycles on business cycles, usinga panel spanning 73 countries since 1900. Agents use a Bayesian learningmodel to form their beliefs on risk. We construct a proxy of these beliefs andshow that perceived low risk encourages risk-taking, augmenting growth atthe cost of accumulating  financial vulnerabilities, and therefore, a reversalin growth follows. The reversal is particularly pronounced when the low-riskenvironment persists and credit growth is excessive. Global-risk cycles havea stronger effect on growth than local-risk cycles via their impact on capital flows, investment, and debt-issuer quality' . Please return only a json list of at most 3 Keywords corresponding to the Description:.<|eot_id|><|start_header_id|>assistant<|end_header_id|> {"Answer" : ["Stock market volatility, uncertainty, monetary policy independence, financial instability, risk-taking, global financial cycles"]} <|eot_id|>
 Here is the Description of a dataset. Description:'We investigate the effects of  financial risk cycles on business cycles, usinga panel spanning 73 countries since 1900. Agents use a Bayesian learningmodel to form their beliefs on risk. We construct a proxy of these beliefs andshow that perceived low risk encourages risk-taking, augmenting growth atthe cost of accumulating  financial vulnerabilities, and therefore, a reversalin growth follows. The reversal is particularly pronounced when the low-riskenvironment persists and credit growth is excessive. Global-risk cycles havea stronger effect on growth than local-risk cycles via their impact on capital flows, investment, and debt-issuer quality' . Please return only a json list of at most 3 Keywords corresponding to the Description:.
We investigate the effects of  financial risk cycles on business cycles, usinga panel spanning 73 countries since 1900. Agents use a Bayesian learningmodel to form their beliefs on risk. We construct a proxy of these beliefs andshow that perceived low risk encourages risk-taking, augmenting growth atthe cost of accumulating  financial vulnerabilities, and therefore, a reversalin growth follows. The reversal is particularly pronounced when the low-riskenvironment persists and credit growth is excessive. Global-risk cycles havea stronger effect on growth than local-risk cycles via their impact on capital flows, investment, and debt-issuer quality
Stock market volatility, uncertainty, monetary policy independence, financial instability, risk-taking, global financial cycles