A self-fulfilling increase in risk perception: A new cause of recession?

The usual causes of recessions are well known : inflation and rising interest rates; excessive debt associated with asset price bubbles; loss of fiscal solvency; balance of payment crises. None of these usu al causes of recession is present currently in OECD countries; could there then be a recession triggered by a new cause: a self-fulfilling increase in risk perception? The initially irrational increase in risk perception would eventually trigger a recession due to the deterioration in financial markets ( caused by the increase in risk perception in financial markets) and the decline in demand for goods and services ( caused by the increase in risk perception by companies and households). This is the greatest concern we have in an environment that is not likely to give rise to a recession.