How to Upload JST Macrohistory Data to Bellavia

Step 1: Access the Macrohistory Database

Go to the Macrohistory Database website.

Click on the EXCEL button to download the latest release: JSTdatasetR6.xlsx

The full explanation of the data can be found in the official documentation at JST_documentationR6.pdf

Screenshot of the Macrohistory Database download page

Step 2: Understand the Dataset Structure

There are data for many countries here from 1870 to 2020. Notice that:

1. The data in this dataset are yearly
2. We only need a few of the available columns
3. Not all data sets are complete
4. The data of interest are in nominal terms

Suppose we want to focus on the UK data. We can do Data > Autofilter and then filter by country. The result is as follows:

Filtered UK data in Excel showing the country selection

Step 3: Select the Required Columns

From this dataset we need the following columns:

• Column A → Year
• Column K → CPI (Consumer Price Index)
• Column AO → eq_tr (Equity total return, nominal. r[t] = [[p[t] + d[t]] / p[t-1] ] - 1)
• Column AQ → bond_tr (Government bond total return, nominal. r[t] = [[p[t] + coupon[t]] / p[t-1] ] - 1)
• Column Q → stir (Short-term interest rate (nominal, percent per year))

We can copy these columns to a new workbook as values:

Selected columns copied to a new workbook

Step 4: Clean the Data

We see that there is a data point missing for 1870, so we can choose to delete the year 1870 from our data.

Also, the stir column is in nominal percent per year and we have to divide by 100 to express it consistently with the other numbers.

The stir column divided by 100 to convert to decimal format

Step 5: Convert to Cumulative Total Returns

Then we observe that these data are yearly total return and what we need is the cumulative total return. So we can simply assume 100 as the base value for eq_tr, bond_tr and stir and then use the existing yearly return to calculate numbers in a new format:

Cumulative return calculations based on yearly returns

Step 6: Format Column Names for Bellavia

Then these numbers we can copy as values to the old positions and rename them with the column names required for the Bellavia App, that is:

• Year
• Equity_TR
• Bond_TR
• Cash_TR
• CPI

The final workbook will look as follows (column order is not important):

Final formatted data with correct column names for Bellavia

Step 7: Save as CSV

We can then save this spreadsheet as a CSV file and upload it from the Settings page of Bellavia.app

Step 8: Upload to Bellavia

Once you have your CSV file ready, follow these steps to upload it to Bellavia:

1. Log in to your Bellavia account
2. Navigate to Settings in the top menu
3. Scroll to the Data Management section
4. Click on Upload Custom Data
5. Choose your CSV file
6. Enter a display name (e.g., "UK JST Data 1871-2020")
7. Select GBP - British Pound (£) as the currency
8. Leave unticked: My data is in real (inflation-adjusted) terms
9. (Optional) Add a description like "Jordà-Schularick-Taylor UK historical data 1871-2020"
10. Click Upload Data

Bellavia will validate your data before uploading. If there are any format issues, you'll see specific error messages.

Step 9: Use Your Custom Dataset

Once uploaded, your JST dataset is ready to use:

1. Go to the Bellavia Home page (main simulator)
2. In the Portfolio & Timeline section, click the Equity Index dropdown
3. Your custom "UK JST Data" dataset will appear in the list
4. Select it and run your simulation

You can now test retirement scenarios across 150+ years of real UK market history, including all major financial crises, wars, and market conditions.

Available Countries in JST Dataset

The JST Macrohistory Database includes data for the following countries, which you can process using the same method:

• Australia
• Belgium
• Canada
• Denmark
• Finland
• France
• Germany
• Italy
• Japan
• Netherlands
• Norway
• Portugal
• Spain
• Sweden
• Switzerland
• United Kingdom
• United States

Conclusion

With the JST Macrohistory Database uploaded, you've significantly enhanced Bellavia's analytical power. You can now run simulations across 150+ years of international market history, stress-test your retirement plan against every major economic crisis, and gain confidence that your strategy works in both bull and bear markets across different countries.

Ready to run your first simulation with the JST data? Head to the Home page and select your newly uploaded dataset from the equity index dropdown.

Frequently Asked Questions

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