Hyun Song Shin

Bank for International Settlements (BIS)

Economic Adviser and Head of Research

Centralbahnplatz 2

Basel, Basel-Stadt 4002

Switzerland

http://www.bis.org/author/hyun_song_shin.htm

SCHOLARLY PAPERS

140

DOWNLOADS
Rank 301

SSRN RANKINGS

Top 301

in Total Papers Downloads

76,938

SSRN CITATIONS
Rank 117

SSRN RANKINGS

Top 117

in Total Papers Citations

1,884

CROSSREF CITATIONS

3,020

Scholarly Papers (140)

1.

The Shadow Banking System: Implications for Financial Regulation

FRB of New York Staff Report No. 382
Number of pages: 18 Posted: 30 Jul 2009
Tobias Adrian and Hyun Song Shin
International Monetary Fund and Bank for International Settlements (BIS)
Downloads 5,153 (2,320)
Citation 72

Abstract:

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financial architecture, regulatory reform

2.

Fair Value Accounting and Financial Stability

Chicago GSB Research Paper No. 08-15
Number of pages: 14 Posted: 30 Sep 2008
Guillaume Plantin, Haresh Sapra and Hyun Song Shin
University of Toulouse 1 - Toulouse School of Economics (TSE), Booth School of Business, University of Chicago and Bank for International Settlements (BIS)
Downloads 4,530 (2,955)
Citation 26

Abstract:

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3.

Global Games: Theory and Applications

Cowles Foundation Discussion Paper No. 1275R
Number of pages: 70 Posted: 27 Sep 2001
Stephen Morris and Hyun Song Shin
MIT and Bank for International Settlements (BIS)
Downloads 4,078 (3,514)
Citation 29

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Common Knowledge, Coordination, Currency Crises, Global Games, Higher Order Beliefs, Unique Equilibrium

4.

Liquidity and Leverage

FRB of New York Staff Report No. 328
Number of pages: 39 Posted: 04 Jun 2008 Last Revised: 11 Nov 2010
Tobias Adrian and Hyun Song Shin
International Monetary Fund and Bank for International Settlements (BIS)
Downloads 3,659 (4,187)
Citation 351

Abstract:

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financial market liquidity, financial cycles, financial intermediary leverage

5.

Liquidity, Monetary Policy, and Financial Cycles

Current Issues in Economics and Finance, Vol. 14, No. 1, January/February 2008
Number of pages: 7 Posted: 11 Feb 2008
Tobias Adrian and Hyun Song Shin
International Monetary Fund and Bank for International Settlements (BIS)
Downloads 3,107 (5,591)
Citation 9

Abstract:

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monetary policy, financial intermediation, financial cycles

6.

Financial Intermediaries, Financial Stability, and Monetary Policy

FRB of New York Staff Report No. 346
Number of pages: 39 Posted: 15 Sep 2008
Tobias Adrian and Hyun Song Shin
International Monetary Fund and Bank for International Settlements (BIS)
Downloads 2,922 (6,171)
Citation 108

Abstract:

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monetary policy, financial stability, financial intermediation, security brokers and dealers, commercial banks

7.

Money, Liquidity, and Monetary Policy

FRB of New York Staff Report No. 360
Number of pages: 14 Posted: 22 Jan 2009
Tobias Adrian and Hyun Song Shin
International Monetary Fund and Bank for International Settlements (BIS)
Downloads 2,822 (6,551)
Citation 58

Abstract:

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credit crisis, monetary policy

8.

Market Tantrums and Monetary Policy

Chicago Booth Research Paper No. 14-09
Number of pages: 56 Posted: 15 Mar 2014
J.P. Morgan Chase & Co., University of Chicago, Booth School of Business, New York University - Stern School of Business - Department of Economics and Bank for International Settlements (BIS)
Downloads 2,639 (7,235)
Citation 86

Abstract:

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9.

Marking to Market: Panacea or Pandora's Box?

Journal of Accounting Research, Vol. 46, No. 2, pp. 435-460, 2008
Number of pages: 32 Posted: 30 Jul 2008 Last Revised: 11 Nov 2010
Guillaume Plantin, Haresh Sapra and Hyun Song Shin
University of Toulouse 1 - Toulouse School of Economics (TSE), Booth School of Business, University of Chicago and Bank for International Settlements (BIS)
Downloads 2,052 (10,878)
Citation 16

Abstract:

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Dividends and Bank Capital in the Financial Crisis of 2007-2009

Number of pages: 36 Posted: 20 Mar 2009 Last Revised: 10 Nov 2010
ProfessorNew York University - Leonard N. Stern School of Business, London Business School (MBA 2007) and Bank for International Settlements (BIS)
Downloads 1,920 (11,871)
Citation 41

Abstract:

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Credit Crisis, Bank Capital, Dividends

Dividends and Bank Capital in the Financial Crisis of 2007-2009

NBER Working Paper No. w16896
Number of pages: 43 Posted: 21 Mar 2011 Last Revised: 03 Mar 2022
ProfessorNew York University - Leonard N. Stern School of Business, London Business School (MBA 2007), University of California, Berkeley - Haas School of Business and Bank for International Settlements (BIS)
Downloads 112 (338,532)

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Dividends and Bank Capital in the Financial Crisis of 2007-2009

CEPR Discussion Paper No. DP8801
Number of pages: 45 Posted: 01 Mar 2012
ProfessorNew York University - Leonard N. Stern School of Business, London Business School (MBA 2007), University of California, Berkeley - Haas School of Business and Bank for International Settlements (BIS)
Downloads 11 (811,010)
Citation 4
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asset substitution, crisis, regulatory capital, risk-shifting

11.

Reforming Money Market Funds

Tuck School of Business Working Paper No. 2011-86, Rock Center for Corporate Governance at Stanford University Working Paper No. 109, Columbia Business School Research Paper No. 12-13
Number of pages: 10 Posted: 19 Jan 2011 Last Revised: 20 Feb 2012
Brookings Institution, Harvard University - Department of Economics, Hoover Institution, University of Chicago - Booth School of Business, Stanford University - Graduate School of Business, Dartmouth College - Tuck School of Business, University of Chicago, Booth School of Business, Columbia University - Columbia Business School, Finance, Harvard Business School - Finance Unit, Yale University - Cowles Foundation, Dartmouth College - Tuck School of Business, Bank for International Settlements (BIS), Harvard University - Department of Economics and Ohio State University (OSU) - Department of Finance
Downloads 1,872 (12,593)
Citation 3

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12.

Beauty Contests, Bubbles and Iterated Expectations in Asset Markets

Cowles Foundation Discussion Paper No. 1406; AFA 2004 San Diego Meetings
Number of pages: 38 Posted: 08 Mar 2003
Franklin Allen, Stephen Morris and Hyun Song Shin
Imperial College London, MIT and Bank for International Settlements (BIS)
Downloads 1,688 (14,890)
Citation 3

Abstract:

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Beauty Contests, Bubbles, Noisy Rational Expectations Equilibrium, Martingales, Public Information, Asset Prices

13.

Emerging Market Economy Exchange Rates and Local Currency Bond Markets Amid the COVID-19 Pandemic

Number of pages: 9 Posted: 13 Jan 2021 Last Revised: 17 Mar 2021
Boris Hofmann, Ilhyock Shim and Hyun Song Shin
Bank for International Settlements (BIS) - Monetary and Economic Department, Bank for International Settlements (BIS) and Bank for International Settlements (BIS)
Downloads 1,509 (17,608)
Citation 25

Abstract:

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14.

Monetary Cycles, Financial Cycles and the Business Cycle

FRB of New York Staff Report No. 421
Number of pages: 19 Posted: 06 Jan 2010
Tobias Adrian, Arturo Estrella and Hyun Song Shin
International Monetary Fund, Rensselaer Polytechnic Institute and Bank for International Settlements (BIS)
Downloads 1,481 (18,092)
Citation 38

Abstract:

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monetary policy, financial intermediation

15.

Carry Trades and Speculative Dynamics

Number of pages: 39 Posted: 26 Apr 2006
Guillaume Plantin and Hyun Song Shin
University of Toulouse 1 - Toulouse School of Economics (TSE) and Bank for International Settlements (BIS)
Downloads 1,467 (18,354)
Citation 48

Abstract:

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Carry Trades, Exchange Rates, Speculation

16.

Financial Intermediaries and Monetary Economics

FRB of New York Staff Report No. 398
Number of pages: 75 Posted: 20 Oct 2009 Last Revised: 10 Nov 2010
Tobias Adrian and Hyun Song Shin
International Monetary Fund and Bank for International Settlements (BIS)
Downloads 1,397 (19,747)
Citation 99

Abstract:

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financial intermediation, monetary policy, risk-taking channel

17.

Stressed Out: Macroprudential Principles for Stress Testing

Chicago Booth Research Paper No. 12-08, Fama-Miller Working Paper
Number of pages: 53 Posted: 14 Feb 2012 Last Revised: 04 Apr 2013
Morgan Stanley, University of Chicago, Booth School of Business, New York University - Stern School of Business - Department of Economics and Bank for International Settlements (BIS)
Downloads 1,241 (23,615)
Citation 41

Abstract:

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18.

Skewness of Earnings and the Believability Hypothesis: How Does the Financial Market Discount Accounting Earnings Disclosures?

Number of pages: 33 Posted: 18 Nov 1996
Yeshiva University, National University of Singapore (NUS) - Department of Accounting and Bank for International Settlements (BIS)
Downloads 1,180 (25,401)
Citation 4

Abstract:

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19.

Liquidity Risk and Contagion

Bank of England Working Paper Series No. 264
Number of pages: 31 Posted: 19 Oct 2005
Central Bank of Chile, European Central Bank (ECB) and Bank for International Settlements (BIS)
Downloads 1,161 (26,015)
Citation 107

Abstract:

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20.

Liquidity and Financial Cycles

BIS Working Paper No. 256
Number of pages: 38 Posted: 22 Jul 2008
Tobias Adrian and Hyun Song Shin
International Monetary Fund and Bank for International Settlements (BIS)
Downloads 1,131 (27,016)
Citation 68

Abstract:

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Financial cycle, financial intermediation, leverage, liquidity

21.

Financial Intermediation and the Post-Crisis Financial System

BIS Working Paper No. 304
Number of pages: 38 Posted: 05 May 2010
Hyun Song Shin
Bank for International Settlements (BIS)
Downloads 1,049 (30,209)
Citation 36

Abstract:

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leverage, financial intermediation chains, financial stability

22.
Downloads 1,020 ( 31,341)
Citation 81

Crisis Resolution and Bank Liquidity

AFA 2009 San Francisco Meetings Paper
Number of pages: 50 Posted: 25 Mar 2008 Last Revised: 11 Nov 2010
ProfessorNew York University - Leonard N. Stern School of Business, Bank for International Settlements (BIS) and Koc University
Downloads 332 (127,725)

Abstract:

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Cash, Cash holdings, Crises, Systemic risk, Distress, Liquidation cost, Limited pledgeability

Crisis Resolution and Bank Liquidity

Review of Financial Studies, Forthcoming
Number of pages: 66 Posted: 22 Jan 2010
ProfessorNew York University - Leonard N. Stern School of Business, Bank for International Settlements (BIS) and Koc University
Downloads 322 (131,890)
Citation 14

Abstract:

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Cash, Cash holdings, Hoarding, Systemic risk, Fire sales

Crisis Resolution and Bank Liquidity

Number of pages: 50 Posted: 08 May 2007 Last Revised: 11 Nov 2010
ProfessorNew York University - Leonard N. Stern School of Business, Bank for International Settlements (BIS) and Koc University
Downloads 185 (226,954)

Abstract:

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Crises, Systemic risk, Distress, Liquidation cost, Limited pledgeability

Crisis Resolution and Bank Liquidity

NYU Working Paper No. 2451/29540
Number of pages: 66 Posted: 09 Mar 2009 Last Revised: 10 Sep 2013
ProfessorNew York University - Leonard N. Stern School of Business, Bank for International Settlements (BIS) and Koc University
Downloads 122 (318,355)

Abstract:

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Crisis Resolution and Bank Liquidity

NBER Working Paper No. w15567
Number of pages: 50 Posted: 08 Dec 2009 Last Revised: 16 Jul 2022
ProfessorNew York University - Leonard N. Stern School of Business, Bank for International Settlements (BIS) and Koc University
Downloads 59 (495,293)

Abstract:

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23.

Procyclical Leverage and Endogenous Risk

Number of pages: 43 Posted: 17 Mar 2009 Last Revised: 05 Oct 2012
Jon Danielsson, Hyun Song Shin and Jean-Pierre Zigrand
London School of Economics - Systemic Risk Centre, Bank for International Settlements (BIS) and London School of Economics - Department of Finance, Systemic Risk Centre, and Financial Markets Group
Downloads 968 (33,728)
Citation 50

Abstract:

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Liquidity, Endogenous Risk, Financial Crises

24.

Liquidity Black Holes

Cowles Foundation Discussion Paper No. 1434
Number of pages: 27 Posted: 19 Sep 2003
Stephen Morris and Hyun Song Shin
MIT and Bank for International Settlements (BIS)
Downloads 926 (35,909)
Citation 11

Abstract:

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Liquidity, asset pricing, global games

25.
Downloads 86 ( 40,924)
Citation 57

Regulating Financial Conglomerates

National Bank of Belgium Working Paper No. 54
Number of pages: 25 Posted: 14 Oct 2010
Universitat Pompeu Fabra, Centre for Economic Policy Research (CEPR), University of Oxford and Bank for International Settlements (BIS)
Downloads 86 (402,602)
Citation 20

Abstract:

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26.

Aligning Incentives at Systemically Important Financial Institutions

Columbia Business School Research Paper No. 13-18, Fisher College of Business Working Paper
Number of pages: 7 Posted: 28 Mar 2013
Brookings Institution, Harvard University - Department of Economics, Hoover Institution, University of Chicago - Booth School of Business, Stanford University - Graduate School of Business, Dartmouth College - Tuck School of Business, University of Chicago, Booth School of Business, Columbia University - Columbia Business School, Finance, Harvard Business School - Finance Unit, Yale University - Cowles Foundation, Dartmouth College - Tuck School of Business, Bank for International Settlements (BIS) and Ohio State University (OSU) - Department of Finance
Downloads 767 (46,446)
Citation 1

Abstract:

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Bonus, compensation, contingent convertible bonds, capital, regulation, financial crisis

27.

Central Bank Digital Currencies: Motives, Economic Implications and the Research Frontier

Annual Review of Economics, Forthcoming
Number of pages: 30 Posted: 16 Sep 2021 Last Revised: 04 Nov 2021
Bank for International Settlements (BIS), Bank for International Settlements, Bank for International Settlements (BIS), University of Bern, Bank for International Settlements (BIS) and Bank for International Settlements (BIS)
Downloads 762 (46,937)

Abstract:

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money, digital currencies, central banks, central bank digital currencies, CBDC, stablecoins, cryptocurrencies, distributed ledgers, big tech, data privacy

28.

How to Open and Close the Market: Lessons from the London Stock Exchange

EFA 2002 Berlin Meetings Presented Paper
Number of pages: 58 Posted: 12 May 2002
Andrew Ellul, Hyun Song Shin and Ian Tonks
Indiana University - Kelley School of Business - Department of Finance, Bank for International Settlements (BIS) and University of Bristol
Downloads 687 (53,802)
Citation 3

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Call markets; Dealership markets; Opening and Closing Markets; International

29.

Marking to Market, Liquidity and Financial Stability

Number of pages: 33 Posted: 30 Jul 2008
Guillaume Plantin, Haresh Sapra and Hyun Song Shin
University of Toulouse 1 - Toulouse School of Economics (TSE), Booth School of Business, University of Chicago and Bank for International Settlements (BIS)
Downloads 670 (55,557)
Citation 5

Abstract:

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Marking to market, accounting regime, monetary policy, financial stability

30.

Financial Intermediation, Asset Prices and Macroeconomic Dynamics

FRB of New York Staff Report No. 422
Number of pages: 42 Posted: 07 Jan 2010
Tobias Adrian, Emanuel Moench and Hyun Song Shin
International Monetary Fund, Frankfurt School of Finance and Management and Bank for International Settlements (BIS)
Downloads 636 (59,370)
Citation 72

Abstract:

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return predictability, financial intermediation, macroeconomic dynamics, macroprudential policy

31.

Procyclical Leverage and Value-at-Risk

FRB of New York Staff Report No. 338
Number of pages: 29 Posted: 31 Jul 2008 Last Revised: 31 Mar 2011
Tobias Adrian and Hyun Song Shin
International Monetary Fund and Bank for International Settlements (BIS)
Downloads 603 (63,550)
Citation 4

Abstract:

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security brokers and dealers, contracting in financial institutions

32.

Heterogeneity and Uniqueness in Interaction Games

Cowles Foundation Discussion Paper No. 1402
Number of pages: 44 Posted: 26 Feb 2003
Stephen Morris and Hyun Song Shin
MIT and Bank for International Settlements (BIS)
Downloads 598 (64,236)
Citation 1

Abstract:

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Heterogeneity, Uniqueness, Global Games

33.

BigTech and the Changing Structure of Financial Intermediation

BIS Working Paper No. 779
Number of pages: 45 Posted: 09 Apr 2019
Bank for International Settlements, Bank for International Settlements (BIS), Graduate Institute of International and CEPR, Bank for International Settlements (BIS) and Mercado Libre
Downloads 586 (65,900)
Citation 11

Abstract:

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BigTech, FinTech, Credit Markets, Data, Technology, Network Effects, Regulation

34.
Downloads 573 ( 67,810)
Citation 42

Communication and Monetary Policy

Cowles Foundation Discussion Paper No. 1405
Number of pages: 22 Posted: 08 Mar 2003
Jeffery D. Amato, Stephen Morris and Hyun Song Shin
Goldman Sachs International, MIT and Bank for International Settlements (BIS)
Downloads 385 (108,249)
Citation 11

Abstract:

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Communication, Monetary Policy, Transparency, Common Knowledge

Communication and Monetary Policy

BIS Working Paper No. 123
Number of pages: 30 Posted: 13 Dec 2005
Jeffery D. Amato, Stephen Morris and Hyun Song Shin
Goldman Sachs International, MIT and Bank for International Settlements (BIS)
Downloads 188 (223,760)
Citation 2

Abstract:

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35.

Risk and Liquidity in a System Context

BIS Working Paper No. 212
Number of pages: 51 Posted: 20 Sep 2007
Hyun Song Shin
Bank for International Settlements (BIS)
Downloads 567 (68,711)
Citation 36

Abstract:

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Liquidity, Systemic Risk, Financial Stability, Asset prices, leverage, liquidity

36.

Risk Appetite and Exchange Rates

FRB of New York Staff Report No. 361
Number of pages: 45 Posted: 05 Feb 2009 Last Revised: 29 Mar 2018
Tobias Adrian, Erkko Etula and Hyun Song Shin
International Monetary Fund, Independent and Bank for International Settlements (BIS)
Downloads 554 (70,760)
Citation 54

Abstract:

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asset pricing, financial intermediaries, exchange rates

37.

Coordination Risk and the Price of Debt

Cowles Foundation Discussion Paper No. 1241R
Number of pages: 28 Posted: 14 Feb 2002
Stephen Morris and Hyun Song Shin
MIT and Bank for International Settlements (BIS)
Downloads 553 (70,912)
Citation 14

Abstract:

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Debt, Coordination, Liquidity, Common Knowledge

Global Dollar Credit and Carry Trades: A Firm-Level Analysis

Review of Financial Studies, Forthcoming
Number of pages: 65 Posted: 04 Jun 2015 Last Revised: 08 Aug 2016
Valentina Bruno and Hyun Song Shin
American University - Department of Finance and Real Estate and Bank for International Settlements (BIS)
Downloads 494 (80,732)
Citation 28

Abstract:

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Emerging markets, bond issuance, surrogate intermediaries, US dollar credit

Global Dollar Credit and Carry Trades: A Firm-Level Analysis

BIS Working Paper No. 510
Number of pages: 53 Posted: 28 Aug 2015
Valentina Bruno and Hyun Song Shin
American University - Department of Finance and Real Estate and Bank for International Settlements (BIS)
Downloads 41 (580,375)
Citation 6

Abstract:

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emerging markets, bond issuance, surrogate intermediaries

39.
Downloads 511 ( 78,212)
Citation 22

Fire-Sale FDI

AFA 2008 New Orleans Meetings Paper, EFA 2008 Athens Meetings Paper
Number of pages: 45 Posted: 20 Mar 2007 Last Revised: 11 Nov 2010
ProfessorNew York University - Leonard N. Stern School of Business, Bank for International Settlements (BIS) and Koc University
Downloads 353 (119,371)
Citation 24

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Fire sales, Capital flight, FDI flows, Financial crises, Foreign takeovers

Fire-Sale FDI

NYU Working Paper No. 2451/29541
Number of pages: 53 Posted: 08 Feb 2010 Last Revised: 10 Sep 2013
ProfessorNew York University - Leonard N. Stern School of Business, Bank for International Settlements (BIS) and Koc University
Downloads 157 (261,336)

Abstract:

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Fire-Sale FDI

CEPR Discussion Paper No. DP6319
Number of pages: 48 Posted: 27 May 2008
ProfessorNew York University - Leonard N. Stern School of Business, Bank for International Settlements (BIS) and Koc University
Downloads 1 (933,540)
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capital flight, FDI flows, financial crises, fire sales, foreign takeovers

40.

Catalytic Finance: When Does it Work?

Cowles Foundation Discussion Paper No. 1400
Number of pages: 21 Posted: 26 Feb 2003
Stephen Morris and Hyun Song Shin
MIT and Bank for International Settlements (BIS)
Downloads 508 (78,756)
Citation 3

Abstract:

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Moral Hazard, Financial Crisis, International Financial Architecture, Global Games

Capital Flows, Cross-Border Banking and Global Liquidity

AFA 2013 San Diego Meetings Paper
Number of pages: 50 Posted: 13 Mar 2012 Last Revised: 03 Dec 2012
Valentina Bruno and Hyun Song Shin
American University - Department of Finance and Real Estate and Bank for International Settlements (BIS)
Downloads 465 (86,850)
Citation 10

Abstract:

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Gross capital flows, leverage, credit booms and busts

Capital Flows, Cross-Border Banking and Global Liquidity

NBER Working Paper No. w19038
Number of pages: 51 Posted: 11 May 2013 Last Revised: 10 Jul 2022
Valentina Bruno and Hyun Song Shin
American University - Department of Finance and Real Estate and Bank for International Settlements (BIS)
Downloads 24 (692,483)
Citation 2

Abstract:

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42.

Asset Price Dynamics with Value-at-Risk Constrained Traders

London School of Economics Financial Markets Group Discussion Paper No. 394; EFA 2002 Berlin Meetings Presented Paper
Number of pages: 25 Posted: 12 Mar 2002
Jon Danielsson, Jean-Pierre Zigrand and Hyun Song Shin
London School of Economics - Systemic Risk Centre, London School of Economics - Department of Finance, Systemic Risk Centre, and Financial Markets Group and Bank for International Settlements (BIS)
Downloads 489 (82,489)
Citation 7

Abstract:

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value-at-risk, general equilibrium, financial regulation

43.

Prices and Quantities in the Monetary Policy Transmission Mechanism

Federal Reserve Bank of New York Staff Report No. 396
Number of pages: 15 Posted: 07 Oct 2009 Last Revised: 10 Nov 2010
Tobias Adrian and Hyun Song Shin
International Monetary Fund and Bank for International Settlements (BIS)
Downloads 485 (83,288)
Citation 12

Abstract:

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monetary policy, liquidity facilities

44.

Liquidity and Contagion: The Crisis of 1763

Number of pages: 45 Posted: 07 Oct 2004
Isabel Schnabel and Hyun Song Shin
University of Bonn - Institute for Financial Economics and Statistics and Bank for International Settlements (BIS)
Downloads 468 (86,956)
Citation 26

Abstract:

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Liquidity, contagion, financial crises

45.

Original Sin Redux

Number of pages: 42 Posted: 07 Apr 2021 Last Revised: 26 Apr 2022
Carol C. Bertaut, Valentina Bruno and Hyun Song Shin
Board of Governors of the Federal Reserve System, American University - Department of Finance and Real Estate and Bank for International Settlements (BIS)
Downloads 453 (90,346)
Citation 1

Abstract:

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Emerging Markets, US Dollar, Sovereign Debt, Investor types

46.

Positive Feedback Trading Under Stress: Evidence from the Us Treasury Securities Market

AFA 2003 Washington, DC Meetings, BIS Working Paper No. 122
Number of pages: 50 Posted: 13 Dec 2005
Benjamin H. Cohen and Hyun Song Shin
Bank for International Settlements (BIS) and Bank for International Settlements (BIS)
Downloads 425 (97,332)
Citation 29

Abstract:

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47.

Do Derivatives Disclosures Impede Sound Risk Management?

Chicago GSB Research Paper No. 08-04
Number of pages: 35 Posted: 17 Jul 2008
Haresh Sapra and Hyun Song Shin
Booth School of Business, University of Chicago and Bank for International Settlements (BIS)
Downloads 417 (99,399)
Citation 3

Abstract:

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48.

Systemic Risk and Liquidity in Payment Systems

FRB of New York Staff Report No. 352
Number of pages: 49 Posted: 09 Nov 2008 Last Revised: 10 Nov 2010
Gara Afonso and Hyun Song Shin
Federal Reserve Bank of New York and Bank for International Settlements (BIS)
Downloads 398 (104,935)
Citation 7

Abstract:

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systemic risk, financial networks, high-value payment systems, precautionary demand

49.

The Dollar Exchange Rate as a Global Risk Factor: Evidence from Investment

BIS Working Paper No. 695
Number of pages: 43 Posted: 31 Jan 2018
Bank for International Settlements (BIS), American University - Department of Finance and Real Estate, SNB and Bank for International Settlements (BIS)
Downloads 395 (105,870)
Citation 15

Abstract:

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financial channel, exchange rates, cross-border bank lending, real investment

50.

Oil and Debt

BIS Quarterly Review March 2015
Number of pages: 11 Posted: 01 Apr 2015
Bank for International Settlements (BIS), Bank for International Settlements (BIS) - Monetary and Economic Department, Bank for International Settlements (BIS) - Monetary and Economic Department and Bank for International Settlements (BIS)
Downloads 392 (106,773)
Citation 4

Abstract:

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51.

Contagious Adverse Selection

Economic Theory Center Working Paper No. 001-2010
Number of pages: 29 Posted: 22 Dec 2010
Stephen Morris and Hyun Song Shin
MIT and Bank for International Settlements (BIS)
Downloads 388 (108,072)
Citation 20

Abstract:

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Currency Depreciation and Emerging Market Corporate Distress

Number of pages: 53 Posted: 12 Dec 2016 Last Revised: 20 Nov 2017
Valentina Bruno and Hyun Song Shin
American University - Department of Finance and Real Estate and Bank for International Settlements (BIS)
Downloads 317 (134,008)
Citation 6

Abstract:

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emerging market corporate debt, currency mismatch, liability dollarization, global financial conditions

Currency Depreciation and Emerging Market Corporate Distress

BIS Working Paper No. 753
Number of pages: 53 Posted: 07 Jan 2019
Valentina Bruno and Hyun Song Shin
American University - Department of Finance and Real Estate and Bank for International Settlements (BIS)
Downloads 70 (453,540)
Citation 6

Abstract:

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emerging market corporate debt, currency mismatch, liability dollarization, global financial conditions

Currency Depreciation and Emerging Market Corporate Distress

CEPR Discussion Paper No. DP13298
Number of pages: 53 Posted: 05 Nov 2018
Valentina Bruno and Hyun Song Shin
American University - Department of Finance and Real Estate and Bank for International Settlements (BIS)
Downloads 0
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currency mismatch, emerging market corporate debt, global financial conditions, liability dollarization

53.

Non-Financial Corporations from Emerging Market Economies and Capital Flows

BIS Quarterly Review December 2014
Number of pages: 11 Posted: 11 Dec 2014
Stefan Avdjiev, Michael K.F. Chui and Hyun Song Shin
Bank for International Settlements (BIS), Bank for International Settlements (BIS) and Bank for International Settlements (BIS)
Downloads 383 (110,337)
Citation 6

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An Early Stablecoin? The Bank of Amsterdam and the Governance of Money

BIS Working Papers, No, 902, November 2020
Number of pages: 45 Posted: 17 Feb 2021
Jon Frost, Hyun Song Shin and Peter Wierts
Bank for International Settlements, Bank for International Settlements (BIS) and De Nederlandsche Bank
Downloads 139 (288,341)
Citation 1

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stablecoins, crypto-assets, central banks, money

55.

The Cnbc Effect: Welfare Effects of Public Information

Yale Cowles Foundation Discussion Paper No. 1312
Number of pages: 36 Posted: 25 Aug 2001
Stephen Morris and Hyun Song Shin
MIT and Bank for International Settlements (BIS)
Downloads 372 (113,289)

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Transparency, Disclosures, Coordination, Overreaction To Public Information

56.

The International Monetary and Financial System: A Capital Account Historical Perspective

BIS Working Paper No. 457
Number of pages: 32 Posted: 12 Sep 2014
Claudio E. V. Borio, Harold James and Hyun Song Shin
Bank for International Settlements (BIS) - Research and Policy Analysis, Princeton University - Department of History and Bank for International Settlements (BIS)
Downloads 370 (114,016)
Citation 1

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excess financial elasticity, banking glut, current account, capital account, financial cycle, financial crises

57.
Downloads 369 (114,394)
Citation 61

Illiquidity Component of Credit Risk

Princeton University William S. Dietrich II Economic Theory Center Research Paper No. 081_2016
Number of pages: 23 Posted: 02 Jun 2016
Stephen Morris and Hyun Song Shin
MIT and Bank for International Settlements (BIS)
Downloads 368 (113,879)
Citation 60

Abstract:

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Illiquidity Component of Credit Risk

International Economic Review, Vol. 57, Issue 4, pp. 1135-1148, 2016
Number of pages: 14 Posted: 15 Nov 2016
Stephen Morris and Hyun Song Shin
MIT and Bank for International Settlements (BIS)
Downloads 1 (933,540)
Citation 9

Abstract:

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58.
Downloads 364 (116,127)

The Fintech Gender Gap

Number of pages: 41 Posted: 22 Mar 2021 Last Revised: 20 Jul 2021
Ernst & Young, UK, Bank for International Settlements, Bank for International Settlements, Bank for International Settlements (BIS) and Bank for International Settlements (BIS)
Downloads 364 (115,288)
Citation 1

Abstract:

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fintech, gender, financial inclusion, personal data, privacy

The Fintech Gender Gap

CEPR Discussion Paper No. DP16270
Number of pages: 39 Posted: 14 Jul 2021
Ernst & Young, UK, Bank for International Settlements, Bank for International Settlements, Bank for International Settlements (BIS) and Bank for International Settlements (BIS)
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Financial Intermediary Balance Sheet Management

FRB of New York Staff Report No. 532
Number of pages: 30 Posted: 04 Jan 2012
Tobias Adrian and Hyun Song Shin
International Monetary Fund and Bank for International Settlements (BIS)
Downloads 357 (117,836)
Citation 18

Abstract:

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Capital, debt, leverage, procyclicality

Financial Intermediary Balance Sheet Management

Annual Review of Financial Economics, Vol. 3, pp. 289-307, 2011
Posted: 10 Jan 2012
Tobias Adrian and Hyun Song Shin
International Monetary Fund and Bank for International Settlements (BIS)

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60.

Common Belief Foundations of Global Games

Princeton University William S. Dietrich II Economic Theory Center Research Paper No. 069_2015
Number of pages: 27 Posted: 30 May 2015 Last Revised: 05 Dec 2015
Stephen Morris, Hyun Song Shin and Muhamet Yildiz
MIT, Bank for International Settlements (BIS) and Massachusetts Institute of Technology (MIT) - Department of Economics
Downloads 341 (124,831)
Citation 11

Abstract:

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61.

Mapping the Shadow Banking System Through a Global Flow of Funds Analysis

IMF Working Paper No. 14/10
Number of pages: 58 Posted: 20 Feb 2014
International Monetary Fund (IMF), International Monetary Fund (IMF) - Statistics Department, International Monetary Fund (IMF), International Monetary Fund (IMF) - Statistics Department, Bank of England, International Monetary Fund (IMF) - Statistics Department, International Monetary Fund (IMF) and Bank for International Settlements (BIS)
Downloads 335 (127,218)

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Banking systems, United States, Shadow economy, Capital flows, International capital markets, Shadow Banking, Global Flow of Funds, Financial Stability, Data Gaps, banking sector, banking statistics, bank for international settlements, bank liabilities, banking activities, banking sectors, var model, debt securities, off balance sheet, bank balance sheets, offshore banking, domestic credit, banking sector assets, government finance, bank offices, banking business, central banking, bank credit, banking accounts, bank monitoring

62.

Leverage Asset Pricing

FRB of New York Staff Report No. 625
Number of pages: 45 Posted: 05 Sep 2013
Tobias Adrian, Emanuel Moench and Hyun Song Shin
International Monetary Fund, Frankfurt School of Finance and Management and Bank for International Settlements (BIS)
Downloads 329 (129,705)
Citation 35

Abstract:

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return predictability, cross-sectional asset pricing, financial intermediation, macro-finance

63.
Downloads 310 (138,006)
Citation 23

A Theory of Slow-Moving Capital and Contagion

Number of pages: 45 Posted: 23 Jan 2009 Last Revised: 10 Nov 2010
ProfessorNew York University - Leonard N. Stern School of Business, Bank for International Settlements (BIS) and Koc University
Downloads 188 (223,760)
Citation 23

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arbitrage, illiquidity, crises, spillover

A Theory of Slow-Moving Capital and Contagion

NYU Working Paper No. FIN-08-029
Number of pages: 45 Posted: 09 Mar 2009
ProfessorNew York University - Leonard N. Stern School of Business, Bank for International Settlements (BIS) and Koc University
Downloads 116 (330,109)
Citation 1

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A Theory of Slow-Moving Capital and Contagion

CEPR Discussion Paper No. DP7147
Number of pages: 47 Posted: 18 Feb 2009
ProfessorNew York University - Leonard N. Stern School of Business, Bank for International Settlements (BIS) and Koc University
Downloads 6 (865,026)
Citation 4
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arbitrage, crises, fire sales, illiquidity, spillover

64.

Leverage and Margin Spirals in Fixed Income Markets during the COVID-19 Crisis

Number of pages: 8 Posted: 13 Jan 2021
Bank for International Settlements (BIS) - Monetary and Economic DepartmentCREATES - Aarhus University, Bank for International Settlements (BIS) and Bank for International Settlements (BIS)
Downloads 307 (139,446)
Citation 35

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65.

The Dollar, Bank Leverage and the Deviation from Covered Interest Parity

BIS Working Paper No. 592
Number of pages: 43 Posted: 16 Nov 2016
Bank for International Settlements (BIS), University of Chicago Booth School of Business, SNB and Bank for International Settlements (BIS)
Downloads 299 (143,286)
Citation 49

Abstract:

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exchange rates, bank leverage, cross-currency basis

66.

Sovereign Yields and the Risk-Taking Channel of Currency Appreciation

BIS Working Paper No. 538
Number of pages: 47 Posted: 19 Jan 2016
Boris Hofmann, Ilhyock Shim and Hyun Song Shin
Bank for International Settlements (BIS) - Monetary and Economic Department, Bank for International Settlements (BIS) and Bank for International Settlements (BIS)
Downloads 299 (143,286)
Citation 15

Abstract:

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bond spread, capital flow, credit risk, emerging market, exchange rate

67.

Trade Credit, Trade Finance, and the COVID-19 Crisis

Number of pages: 9 Posted: 13 Jan 2021
Frédéric Boissay, Nikhil Patel and Hyun Song Shin
Bank for International Settlements (BIS), Bank for International Settlements (BIS) and Bank for International Settlements (BIS)
Downloads 289 (148,535)
Citation 4

Abstract:

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68.

Regulating Big Techs in Finance

Number of pages: 9 Posted: 07 Sep 2021
Bank for International Settlements (BIS), Bank for International Settlements (BIS), Bank for International Settlements (BIS) - Financial Stability Institute and Bank for International Settlements (BIS)
Downloads 285 (150,606)
Citation 2

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69.

Money and Trust: Lessons from the 1620s for Money in the Digital Age

BIS Working Paper No. 698
Number of pages: 39 Posted: 07 Feb 2018
Isabel Schnabel and Hyun Song Shin
University of Bonn - Institute for Financial Economics and Statistics and Bank for International Settlements (BIS)
Downloads 285 (150,606)
Citation 3

Abstract:

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Gresham's Law; debasement; common knowledge; central banks

70.

Endogenous Choice of Bank Liquidity: The Role of Fire Sales

Bank of England Working Paper No. 376
Number of pages: 68 Posted: 12 Dec 2009
ProfessorNew York University - Leonard N. Stern School of Business, Bank for International Settlements (BIS) and Koc University
Downloads 278 (154,392)
Citation 10

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Crises, systemic risk, distress, limited pledgeability, lender of last resort

71.
Downloads 275 (156,051)
Citation 25

The Hunt for Duration: Not Waving but Drowning?

BIS Working Paper No. 519
Number of pages: 52 Posted: 01 Mar 2017
Dietrich Domanski, Hyun Song Shin and Vladyslav Sushko
Bank for International Settlements (BIS), Bank for International Settlements (BIS) and Bank for International Settlements (BIS)
Downloads 159 (258,621)
Citation 22

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Long-Term Yield Compression, Insurance Sector, Liability-Driven Investment, Duration Mismatch

The Hunt for Duration: Not Waving But Drowning?

BIS Working Paper No. 519
Number of pages: 48 Posted: 12 Oct 2015
Dietrich Domanski, Hyun Song Shin and Vladyslav Sushko
Bank for International Settlements (BIS), Bank for International Settlements (BIS) and Bank for International Settlements (BIS)
Downloads 116 (330,109)

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long-term yield compression, insurance sector, liability-driven investment, duration mismatch

72.

Public and Private Information in Monetary Policy Models

BIS Working Paper No. 138
Number of pages: 81 Posted: 20 Sep 2007
Jeffery D. Amato and Hyun Song Shin
Goldman Sachs International and Bank for International Settlements (BIS)
Downloads 250 (171,670)
Citation 28

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Imperfect information, monopolistic competition, targeting

73.

Why Bank Capital Matters for Monetary Policy

BIS Working Paper No. 558
Number of pages: 34 Posted: 08 Apr 2016
Leonardo Gambacorta and Hyun Song Shin
Bank for International Settlements (BIS) and Bank for International Settlements (BIS)
Downloads 249 (172,308)
Citation 28

Abstract:

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Bank capital, book equity, monetary transmission mechanisms, funding, bank lending

74.

Risk Premium Shifts and Monetary Policy: A Coordination Approach

Princeton University William S. Dietrich II Economic Theory Center Research Paper No. 075_2016
Number of pages: 25 Posted: 14 Jan 2016
Stephen Morris and Hyun Song Shin
MIT and Bank for International Settlements (BIS)
Downloads 228 (187,468)
Citation 7

Abstract:

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market liquidity, risk-taking channel, runs

75.

Permissioned Distributed Ledgers and the Governance of Money

Number of pages: 71 Posted: 17 Feb 2021
Raphael Auer, Cyril Monnet and Hyun Song Shin
Bank for International Settlements (BIS), University of Bern and Bank for International Settlements (BIS)
Downloads 218 (195,720)
Citation 1

Abstract:

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digital currencies, money, distributed ledger, blockchain, coordination game, global game, consensus, market design

76.

Analytics of Sovereign Debt Restructuring

Bank of England Working Paper No. 203
Number of pages: 26 Posted: 30 Sep 2004
Bank of England, Bank of England, Bank of England and Bank for International Settlements (BIS)
Downloads 206 (206,253)
Citation 16

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Sovereign debt, restructuring mechanisms, collective action clauses, international bankruptcy, International Monetary Fund

77.

Dollar Beta and Stock Returns

Number of pages: 27 Posted: 10 Jan 2022 Last Revised: 15 Feb 2022
Valentina Bruno, Ilhyock Shim and Hyun Song Shin
American University - Department of Finance and Real Estate, Bank for International Settlements (BIS) and Bank for International Settlements (BIS)
Downloads 203 (209,042)

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Global liquidity, pricing factor, emerging market, exchange rate

78.

On the Scale of Financial Intermediaries

FRB of NY Staff Report No. 743
Number of pages: 37 Posted: 06 Oct 2015
Tobias Adrian, Nina Boyarchenko and Hyun Song Shin
International Monetary Fund, Federal Reserve Bank of New York and Bank for International Settlements (BIS)
Downloads 191 (222,765)

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financial intermediation, macro-finance, capital regulations

79.
Downloads 185 (226,933)
Citation 3

Dollar and Exports

Proceedings of Paris December 2020 Finance Meeting EUROFIDAI - ESSEC
Number of pages: 52 Posted: 06 May 2020 Last Revised: 28 Jul 2022
Valentina Bruno and Hyun Song Shin
American University - Department of Finance and Real Estate and Bank for International Settlements (BIS)
Downloads 185 (226,954)
Citation 4

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Dollar and Exports

CEPR Discussion Paper No. DP16311
Number of pages: 55 Posted: 14 Jul 2021
Valentina Bruno and Hyun Song Shin
American University - Department of Finance and Real Estate and Bank for International Settlements (BIS)
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80.

Optimal Collective Action Clause Thresholds

Bank of England Working Paper No. 249
Number of pages: 25 Posted: 19 May 2005
Bank of England, Bank of England, Bank of England and Bank for International Settlements (BIS)
Downloads 184 (228,009)
Citation 7

Abstract:

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Sovereign debt, liquidity crises, restructuring mechanisms, collective action clauses

Non-Bank Financial Intermediaries and Financial Stability

Number of pages: 50 Posted: 18 Nov 2021 Last Revised: 10 May 2022
Bank for International Settlements (BIS), Bank for International Settlements (BIS) - Monetary and Economic DepartmentCREATES - Aarhus University and Bank for International Settlements (BIS)
Downloads 173 (240,611)

Abstract:

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Financial intermediation, non-banks, market-based finance, market liquidity, systemic risk

Non-Bank Financial Intermediaries and Financial Stability

CEPR Discussion Paper No. DP16962
Number of pages: 50 Posted: 04 Feb 2022
Bank for International Settlements (BIS), Bank for International Settlements (BIS) - Monetary and Economic DepartmentCREATES - Aarhus University and Bank for International Settlements (BIS)
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Financial Intermediation, market liquidity, market-based finance, Non-banks, systemic risk

82.

Low Price-To-Book Ratios and Bank Dividend Payout Policies

BIS Working Papers No 907 (2020)
Number of pages: 32 Posted: 13 Jan 2021 Last Revised: 10 Mar 2021
Bank for International Settlements (BIS), CSEF - University of Naples Federico II - Centre for Studies in Economics and Finance (CSEF) and Bank for International Settlements (BIS)
Downloads 168 (246,306)
Citation 3

Abstract:

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dividend payout policy, banks, low interest rates, COVID-19 crisis

83.

Bond Risk Premia and the Exchange Rate

BIS Working Paper No. 775
Number of pages: 35 Posted: 19 Mar 2019
Boris Hofmann, Ilhyock Shim and Hyun Song Shin
Bank for International Settlements (BIS) - Monetary and Economic Department, Bank for International Settlements (BIS) and Bank for International Settlements (BIS)
Downloads 162 (254,049)
Citation 11

Abstract:

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Bond Spread, Capital Flow, Credit Risk, Emerging Market, Exchange Rate

Capital Flows and the Risk-Taking Channel of Monetary Policy

BIS Working Paper No. 400
Number of pages: 43 Posted: 12 Apr 2013 Last Revised: 10 May 2014
Valentina Bruno and Hyun Song Shin
American University - Department of Finance and Real Estate and Bank for International Settlements (BIS)
Downloads 124 (314,546)
Citation 16

Abstract:

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Capital flows, exchange rate appreciation, credit booms

Capital Flows and the Risk-Taking Channel of Monetary Policy

NBER Working Paper No. w18942
Number of pages: 46 Posted: 05 Apr 2013 Last Revised: 04 Apr 2022
Valentina Bruno and Hyun Song Shin
American University - Department of Finance and Real Estate and Bank for International Settlements (BIS)
Downloads 26 (676,648)
Citation 75

Abstract:

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85.

Dollar Exchange Rate as a Credit Supply Factor – Evidence from Firm-Level Exports

BIS Working Paper No. 819
Number of pages: 53 Posted: 12 Nov 2019
Valentina Bruno and Hyun Song Shin
American University - Department of Finance and Real Estate and Bank for International Settlements (BIS)
Downloads 146 (276,429)
Citation 2

Abstract:

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global factors, risk taking channel, non-core bank funding, working capital, global value chains

86.
Downloads 139 (287,271)
Citation 17

Bank Capital and Dividend Externalities

BIS Working Paper No. 580
Number of pages: 56 Posted: 15 Sep 2016
ProfessorNew York University - Leonard N. Stern School of Business, University of Illinois at Chicago and Bank for International Settlements (BIS)
Downloads 112 (338,532)

Abstract:

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bank dividends, capital erosion, systemic risk

Bank Capital and Dividend Externalities

NBER Working Paper No. w19707
Number of pages: 61 Posted: 10 Dec 2013 Last Revised: 08 May 2022
ProfessorNew York University - Leonard N. Stern School of Business, University of Illinois at Chicago and Bank for International Settlements (BIS)
Downloads 20 (725,923)
Citation 4

Abstract:

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Bank Capital and Dividend Externalities

CEPR Discussion Paper No. DP9479
Number of pages: 53 Posted: 24 May 2013
ProfessorNew York University - Leonard N. Stern School of Business, New York University (NYU) - Leonard N. Stern School of Business and Bank for International Settlements (BIS)
Downloads 6 (865,026)
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externalities, financial crises, franchise value, risk-shifting

Bank Capital and Dividend Externalities

CEPR Discussion Paper No. DP9865
Number of pages: 62 Posted: 02 Jun 2014
ProfessorNew York University - Leonard N. Stern School of Business, New York University (NYU) - Leonard N. Stern School of Business and Bank for International Settlements (BIS)
Downloads 1 (933,540)
Citation 8
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externalities, financial crises, franchise value, risk-shifting

87.

Tracking the International Footprints of Global Firms

BIS Quarterly Review, March 2018
Number of pages: 20 Posted: 13 Mar 2018
Bank for International Settlements (BIS), Central Bank of Ireland, Trinity College (Dublin) - Department of Economics and Bank for International Settlements (BIS)
Downloads 133 (297,072)
Citation 6

Abstract:

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88.

Redemption Risk and Cash Hoarding by Asset Managers

BIS Working Paper No. 608
Number of pages: 47 Posted: 01 Feb 2017
Stephen Morris, Ilhyock Shim and Hyun Song Shin
MIT, Bank for International Settlements (BIS) and Bank for International Settlements (BIS)
Downloads 130 (302,361)
Citation 16

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asset manager, bond market liquidity, cash hoarding, global game, investor redemption, strategic complementarity

89.

Investor Redemptions and Fund Manager Sales of Emerging Market Bonds: How are They Related?

BIS Working Paper No. 509
Number of pages: 52 Posted: 25 Aug 2015
Jimmy Shek, Ilhyock Shim and Hyun Song Shin
Bank for International Settlements (BIS), Bank for International Settlements (BIS) and Bank for International Settlements (BIS)
Downloads 130 (302,361)
Citation 4

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Emerging market, sudden stop, financial crisis, global liquidity reversal, investor redemption

90.

Comparative Assessment of Macroprudential Policies

BIS Working Paper No. 502
Number of pages: 56 Posted: 12 Jun 2015
Valentina Bruno, Ilhyock Shim and Hyun Song Shin
American University - Department of Finance and Real Estate, Bank for International Settlements (BIS) and Bank for International Settlements (BIS)
Downloads 128 (305,900)
Citation 26

Abstract:

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macroprudential policy, capital flow management policy, interest rate policy, complementarity, Asia-Pacific

91.

Cross-Border Banking and Global Liquidity

BIS Working Paper No. 458
Number of pages: 47 Posted: 12 Sep 2014
Valentina Bruno and Hyun Song Shin
American University - Department of Finance and Real Estate and Bank for International Settlements (BIS)
Downloads 127 (307,647)
Citation 86

Abstract:

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cross-border banking flows, bank leverage, global banks

92.

Exploring the Dynamics of Global Liquidity

IMF Working Paper No. 12/246
Number of pages: 48 Posted: 01 Nov 2012
International Monetary Fund (IMF), International Monetary Fund (IMF), International Monetary Fund (IMF), affiliation not provided to SSRN, International Monetary Fund (IMF) and Bank for International Settlements (BIS)
Downloads 126 (309,430)

Abstract:

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Liquidity, Demand, Supply, Monetary aggregates, International monetary system, Liquidity, core and noncore financial liabilities, shadow banking, growth

93.

Macro Risk Premium and Intermediary Balance Sheet Quantities

FRB of New York Staff Report No. 428
Number of pages: 39 Posted: 03 Feb 2010
Tobias Adrian, Emanuel Moench and Hyun Song Shin
International Monetary Fund, Frankfurt School of Finance and Management and Bank for International Settlements (BIS)
Downloads 126 (309,430)
Citation 6

Abstract:

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monetary policy, financial intermediation, capital markets

94.

Breaking Free of the Triple Coincidence in International Finance

BIS Working Paper No. 524
Number of pages: 41 Posted: 21 Oct 2015
Bank for International Settlements (BIS), University of Oxford - Oxford Centre for Global HistoryBoston University, Global Development Policy Center and Bank for International Settlements (BIS)
Downloads 120 (320,636)
Citation 10

Abstract:

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capital flows, global liquidity, international currencies

95.

FX Intervention and Domestic Credit: Evidence from High-Frequency Micro Data

BIS Working Paper No. 774
Number of pages: 30 Posted: 19 Mar 2019 Last Revised: 13 Dec 2021
Bank for International Settlements (BIS) - Monetary and Economic Department, Bank for International Settlements (BIS) and Central Bank of Colombia
Downloads 107 (347,120)
Citation 2

Abstract:

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FX Intervention, Credit Registry, Emerging Markets, Financial Channel of Exchange Rates

96.

Exchange Rates and Monetary Spillovers

BIS Working Paper No. 537
Number of pages: 43 Posted: 19 Jan 2016
Guillaume Plantin and Hyun Song Shin
University of Toulouse 1 - Toulouse School of Economics (TSE) and Bank for International Settlements (BIS)
Downloads 105 (351,608)
Citation 1

Abstract:

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currency appreciation, capital flows, global games

97.

Procyclicality and the Search for Early Warning Indicators

IMF Working Paper No. 13/258
Number of pages: 17 Posted: 09 Jan 2014
Hyun Song Shin
Bank for International Settlements (BIS)
Downloads 103 (356,063)

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Business cycles, Capital markets, Credit, Demand for money, China, Banks, Monetary aggregates, Non-core liabilities, credit cycles, financial stability, discount rates, monetary fund, international capital markets, money stock, capital flow reversals, access to capital markets, money demand, capital inflows, global capital markets, eurodollar market, equity prices, open capital markets, monetary authority, long-term interest rates, hong kong monetary authority, capital market funding, hedging, monetary stability, excess liquidity, monetary analysis

98.

Risk capacity, portfolio choice and exchange rates

Number of pages: 24 Posted: 09 Feb 2022
Boris Hofmann, Ilhyock Shim and Hyun Song Shin
Bank for International Settlements (BIS) - Monetary and Economic Department, Bank for International Settlements (BIS) and Bank for International Settlements (BIS)
Downloads 98 (367,850)

Abstract:

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Bond spread, capital flow, credit risk, emerging market, exchange rate

99.

Debt Maturity Structure with Pre-Emptive Creditors

Bank of England Working Paper No. 201
Number of pages: 28 Posted: 08 Sep 2004
Prasanna Gai and Hyun Song Shin
University of Auckland Business School and Bank for International Settlements (BIS)
Downloads 95 (374,999)
Citation 1

Abstract:

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Debt maturity, international financial architecture, creditor pre-emption

100.

Financial Conditions and Purchasing Managers’ Indices: Exploring the Links

BIS Quarterly Review, September 2019
Number of pages: 15 Posted: 14 Oct 2019
Bank for International Settlements (BIS), Bank for International Settlements (BIS) - Monetary and Economic Department, Bank for International Settlements (BIS) - Monetary and Economic Department and Bank for International Settlements (BIS)
Downloads 84 (404,406)

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101.

Effectiveness of Macroprudential and Capital Flow Measures in Asia and the Pacific

BIS Paper No. 82k
Number of pages: 8 Posted: 19 Oct 2015
Valentina Bruno, Ilhyock Shim and Hyun Song Shin
American University - Department of Finance and Real Estate, Bank for International Settlements (BIS) and Bank for International Settlements (BIS)
Downloads 83 (407,215)

Abstract:

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banking inflow, bond inflow, domestic macroprudential measure, capital flow measure

102.

Central Bank Forward Guidance and the Signal Value of Market Prices

BIS Working Paper No. 692
Number of pages: 9 Posted: 25 Jan 2018
Stephen Morris and Hyun Song Shin
MIT and Bank for International Settlements (BIS)
Downloads 80 (416,071)
Citation 6

Abstract:

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central bank communication, market expectations, crowding out

Distributed Ledgers and the Governance of Money

CESifo Working Paper No. 9441
Number of pages: 70 Posted: 02 Dec 2021
Raphael Auer, Cyril Monnet and Hyun Song Shin
Bank for International Settlements (BIS), University of Bern and Bank for International Settlements (BIS)
Downloads 76 (433,285)

Abstract:

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market design, money distributed ledger technology, DLT, blockchain, decentralized finance, global game, consensus

Distributed Ledgers and the Governance of Money

CEPR Discussion Paper No. DP16752
Number of pages: 71 Posted: 04 Feb 2022
Raphael Auer, Cyril Monnet and Hyun Song Shin
Bank for International Settlements (BIS), University of Bern and Bank for International Settlements (BIS)
Downloads 1 (933,540)
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blockchain, Consensus, decentralized finance, distributed ledger technology, DLT, Global game, market design, money

104.

Exchange Rates and the Working Capital Channel of Trade Fluctuations

BIS Working Paper No. 694
Number of pages: 9 Posted: 31 Jan 2018
Valentina Bruno, Se-Jik Kim and Hyun Song Shin
American University - Department of Finance and Real Estate, Seoul National University - School of Economics and Bank for International Settlements (BIS)
Downloads 75 (431,479)
Citation 11

Abstract:

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global value chains, dollar invoicing, global liquidity

105.

Central Banks, the Monetary System and Public Payment Infrastructures: Lessons from Brazil's Pix

Number of pages: 8 Posted: 06 Apr 2022
Central Bank of Brazil, Bank for International Settlements, Bank for International Settlements (BIS), Central Bank of Brazil and Bank for International Settlements (BIS)
Downloads 67 (458,218)

Abstract:

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Central banks, financial inclusion, innovation, payments

106.

Global Liquidity Through the Lens of Monetary Aggregates

IMF Working Paper No. 14/9
Number of pages: 50 Posted: 20 Feb 2014
Institute for Monetary & Economic Research, Sejong University - Department of Economics, International Monetary Fund (IMF), Kyung-Hee University and Bank for International Settlements (BIS)
Downloads 66 (461,691)
Citation 1

Abstract:

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Monetary aggregates, Corporate sector, International capital markets, Capital inflows, Liquidity, Exchange rate appreciation, Banking sector, Corporate deposits, money supply, offshore bond issuance, capital flows, debt securities, global capital markets, open capital markets, index options, hedging, securities markets, international capital flows, corporate bonds, capital market financing, corporate bond market, hoarding, subsidiaries, border capital flows, net capital, real effective exchange rate

107.

Gauging Procyclicality and Financial Vulnerability in Asia Through the BIS Banking and Financial Statistics

BIS Working Paper No. 735
Number of pages: 35 Posted: 25 Jul 2018
Stefan Avdjiev, Bat-el Berger and Hyun Song Shin
Bank for International Settlements (BIS), Bank for International Settlements (BIS) and Bank for International Settlements (BIS)
Downloads 58 (491,840)

Abstract:

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Asian Financial Crisis, international bank lending, procyclicality, financial stability

108.

Procyclical Leverage and Value-at-Risk

NBER Working Paper No. w18943
Number of pages: 43 Posted: 05 Apr 2013 Last Revised: 06 Apr 2022
Tobias Adrian and Hyun Song Shin
International Monetary Fund and Bank for International Settlements (BIS)
Downloads 48 (534,401)
Citation 52

Abstract:

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109.

Following the Imprint of the ECB's Asset Purchase Programme on Global Bond and Deposit Flows

BIS Quarterly Review, March 2019
Number of pages: 13 Posted: 07 Mar 2019
Stefan Avdjiev, Mary Everett and Hyun Song Shin
Bank for International Settlements (BIS), Central Bank of Ireland and Bank for International Settlements (BIS)
Downloads 47 (538,914)

Abstract:

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110.

The Dollar, Bank Leverage and Real Economic Activity: An Evolving Relationship

BIS Working Paper No. 847
Number of pages: 18 Posted: 15 Apr 2020
Bank for International Settlements (BIS), Bank for International Settlements (BIS) - Monetary and Economic Department, Bank for International Settlements (BIS) - Monetary and Economic Department and Bank for International Settlements (BIS)
Downloads 43 (558,258)
Citation 2

Abstract:

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financial conditions, economic activity, world trade, dollar exchange rate, bank leverage, purchasing managers' indices, nowcasting, global supply chains

111.

Non-Core Bank Liabilities and Financial Vulnerability

NBER Working Paper No. w18428
Number of pages: 54 Posted: 29 Sep 2012 Last Revised: 09 May 2022
Joon-Ho Hahm, Hyun Song Shin and Kwanho Shin
Yonsei University - Graduate School of International Studies, Bank for International Settlements (BIS) and Korea University
Downloads 41 (568,385)
Citation 11

Abstract:

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112.

Procyclicality and Monetary Aggregates

NBER Working Paper No. w16836
Number of pages: 28 Posted: 28 Feb 2011 Last Revised: 02 Jan 2022
Hyun Song Shin and Kwanho Shin
Bank for International Settlements (BIS) and Korea University
Downloads 40 (573,544)

Abstract:

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113.

Liquidity Management and Asset Sales by Bond Funds in the Face of Investor Redemptions in March 2020

Number of pages: 8 Posted: 29 Mar 2021
Bank for International Settlements (BIS) - Monetary and Economic DepartmentCREATES - Aarhus University, Bank for International Settlements (BIS) and Bank for International Settlements (BIS)
Downloads 39 (578,684)
Citation 2

Abstract:

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114.

Macroprudential Policies in Open Emerging Economies

NBER Working Paper No. w17780
Number of pages: 62 Posted: 27 Jan 2012 Last Revised: 01 Aug 2022
Yonsei University - Graduate School of International Studies, Columbia University - Columbia Business School, Finance, Bank for International Settlements (BIS) and Korea University
Downloads 39 (578,684)
Citation 1

Abstract:

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115.

Which Financial Frictions? Parsing the Evidence from the Financial Crisis of 2007-9

NBER Working Paper No. w18335
Number of pages: 56 Posted: 01 Sep 2012 Last Revised: 06 Feb 2022
Tobias Adrian, Paolo Colla and Hyun Song Shin
International Monetary Fund, Bocconi University - Department of Finance and Bank for International Settlements (BIS)
Downloads 32 (618,371)
Citation 5

Abstract:

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116.

Assessing Macroprudential Policies: Case of Korea

NBER Working Paper No. w19084
Number of pages: 37 Posted: 31 May 2013 Last Revised: 23 Feb 2022
Valentina Bruno and Hyun Song Shin
American University - Department of Finance and Real Estate and Bank for International Settlements (BIS)
Downloads 27 (650,727)

Abstract:

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117.

The Squam Lake Report: Fixing the Financial System

Journal of Applied Corporate Finance, Vol. 22, Issue 3, pp. 8-21, Summer 2010
Number of pages: 16 Posted: 04 Oct 2010
Dartmouth College - Tuck School of Business, Institute for International Economics, Harvard University - Department of Economics, Hoover Institution, University of Chicago - Booth School of Business, Stanford University - Graduate School of Business, University of Chicago, Booth School of Business, Columbia University - Columbia Business School, Finance, University of Chicago - Booth School of Business, Harvard Business School - Finance Unit, Yale University - Cowles Foundation, Bank for International Settlements (BIS), Dartmouth College - Tuck School of Business, Harvard University - Department of Economics and Ohio State University (OSU) - Department of Finance
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118.

Liquidity and Twin Crises

Economic Notes, Vol. 34, No. 3, pp. 257-277, November 2005
Number of pages: 21 Posted: 06 Dec 2005
Hyun Song Shin
Bank for International Settlements (BIS)
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119.

Disclosures and Asset Returns

Number of pages: 39 Posted: 04 Jun 2002
Hyun Song Shin
Bank for International Settlements (BIS)
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Citation 16
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Binomial trees, disclosure games, residual uncertainty

120.

Welfare Effects of Public Information

Bundesbank Series 1 Discussion Paper No. 2000,07
Number of pages: 23 Posted: 08 Jun 2016
Stephen Morris and Hyun Song Shin
MIT and Bank for International Settlements (BIS)
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121.

Aligning Incentives at Systemically Important Financial Institutions: A Proposal by the Squam Lake Group

Journal of Applied Corporate Finance, Vol. 25, Issue 4, pp. 37-40, 2013
Number of pages: 6 Posted: 23 Dec 2013
Brookings Institution, Harvard University - Department of Economics, Hoover Institution, University of Chicago - Booth School of Business, Stanford University - Graduate School of Business, Dartmouth College - Tuck School of Business, University of Chicago, Booth School of Business, Columbia University - Columbia Business School, Finance, Harvard Business School - Finance Unit, Yale University - Cowles Foundation, Dartmouth College - Tuck School of Business, Bank for International Settlements (BIS) and Ohio State University (OSU) - Department of Finance
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122.

Discussion of Assessing the Information Content of Mark-to-Market Accounting with Mixed Attributes: The Case of Cash Flow Hedges and Market Transparency and the Accounting Regime

Journal of Accounting Research, Vol. 45, Issue 2, pp. 277-287, May 2007
Number of pages: 12 Posted: 11 Dec 2007
Hyun Song Shin
Bank for International Settlements (BIS)
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123.

Outward portfolio investment and dollar funding in emerging Asia

BIS Quarterly Review, December 2021
Number of pages: 15 Posted: 16 Feb 2022
Bank for International Settlements (BIS), Bank for International Settlements (BIS), Bank for International Settlements (BIS) and Bank for International Settlements (BIS)
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Institutional investors, asset managers, FX hedging, dollar funding, emerging Asia

124.

Carry Trades, Monetary Policy and Speculative Dynamics

CEPR Discussion Paper No. DP8224
Number of pages: 41 Posted: 09 Feb 2011
Guillaume Plantin and Hyun Song Shin
University of Toulouse 1 - Toulouse School of Economics (TSE) and Bank for International Settlements (BIS)
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currency crises, emerging market bubbles, speculation

125.

Leverage, Securitization and Global Imbalances

Hong Kong Institute for Monetary and Financial Research (HKIMR) Research Paper OP No. 05/2009
Number of pages: 33 Posted: 13 Jun 2022
Hyun Song Shin
Bank for International Settlements (BIS)
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126.

Fire Sales, Foreign Entry and Bank Liquidity

CEPR Discussion Paper No. DP6309
Number of pages: 62 Posted: 27 May 2008
ProfessorNew York University - Leonard N. Stern School of Business, Bank for International Settlements (BIS) and Koc University
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crises, distress, limited pledgeability, liquidation cost, systemic risk

127.

Liquidity, Leverage, and Regulation Ten Years after the Global Financial Crisis

CEPR Discussion Paper No. DP13350
Number of pages: 31 Posted: 03 Dec 2018
Tobias Adrian, John Kiff and Hyun Song Shin
International Monetary Fund, International Monetary Fund and Bank for International Settlements (BIS)
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Citation 7
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128.

Assessing Macroprudential Policies: Case of South Korea

The Scandinavian Journal of Economics, Vol. 116, Issue 1, pp. 128-157, 2014
Number of pages: 30 Posted: 31 Dec 2013
Valentina Bruno and Hyun Song Shin
American University - Department of Finance and Real Estate and Bank for International Settlements (BIS)
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Capital flows, credit booms, macroprudential policy

129.

Risk-Taking Channel of Monetary Policy

CEPR Discussion Paper No. DP12677
Number of pages: 28 Posted: 05 Feb 2018
Tobias Adrian, Arturo Estrella and Hyun Song Shin
International Monetary Fund, Rensselaer Polytechnic Institute and Bank for International Settlements (BIS)
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Citation 5
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risk taking channel of monetary policy

130.

Big Techs in Finance: On the New Nexus Between Data Privacy and Competition

The Palgrave Handbook of Technological Finance, https://doi.org/10.1007/978-3-030-65117-6.
Posted: 25 Oct 2021
Bank for International Settlements (BIS), International Monetary Fund (IMF) - Monetary and Capital Markets Department, Bank for International Settlements (BIS) and Bank for International Settlements (BIS)

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digital platforms, big techs, finance, data privacy, competition

131.

Liquidity, Leverage, and Regulation 10 Years after the Global Financial Crisis

Annual Review of Financial Economics, Vol. 10, pp. 1-24, 2018
Posted: 08 Nov 2018
Tobias Adrian, John Kiff and Hyun Song Shin
International Monetary Fund, International Monetary Fund and Bank for International Settlements (BIS)

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132.

Global Liquidity: A Selective Review

Annual Review of Economics, Vol. 9, pp. 587-612, 2017
Posted: 14 Aug 2017
Bank for International Settlements (BIS), Bank for International Settlements (BIS), Bank for International Settlements (BIS) and Bank for International Settlements (BIS)

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133.

Dynamic Leverage Asset Pricing

CEPR Discussion Paper No. DP11466
Number of pages: 58 Posted: 30 Aug 2016 Last Revised: 02 Dec 2019
Tobias Adrian, Emanuel Moench and Hyun Song Shin
International Monetary Fund, Frankfurt School of Finance and Management and Bank for International Settlements (BIS)
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intermediary asset pricing, Leverage Cycles, Macro-Finance

134.

Endogenous Extreme Events and the Dual Role of Prices

Annual Review of Economics, Vol. 4, pp. 111-129, 2012
Posted: 01 Sep 2012
Jon Danielsson, Hyun Song Shin and Jean-Pierre Zigrand
London School of Economics - Systemic Risk Centre, Bank for International Settlements (BIS) and London School of Economics - Department of Finance, Systemic Risk Centre, and Financial Markets Group

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135.

Which Financial Frictions? Parsing the Evidence from the Financial Crisis of 2007-09

FRB of New York Staff Report No. 528, Economic Theory Center Working Paper No. 36-2012
Posted: 24 Dec 2011 Last Revised: 04 Oct 2012
Tobias Adrian, Paolo Colla and Hyun Song Shin
International Monetary Fund, Bocconi University - Department of Finance and Bank for International Settlements (BIS)

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financial intermediation, credit supply

136.

The Changing Nature of Financial Intermediation and the Financial Crisis of 2007–2009

Annual Review of Economics, Vol. 2, pp. 603-618, 2010
Posted: 18 Oct 2010
Tobias Adrian and Hyun Song Shin
International Monetary Fund and Bank for International Settlements (BIS)

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137.

Beauty Contests and Iterated Expectations in Asset Markets

The Review of Financial Studies, Vol. 19, Issue 3, pp. 719-752, 2006
Posted: 29 Feb 2008
Franklin Allen and Hyun Song Shin
Imperial College London and Bank for International Settlements (BIS)

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138.

A Theory of the Onset of Currency Attacks

CEPR Discussion Paper Series No. 2025
Posted: 07 Apr 1999
Hyun Song Shin and Stephen Morris
Bank for International Settlements (BIS) and MIT

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139.

Adversarial and Inquisitorial Procedures in Arbitration

REF: 3233
Posted: 09 Mar 1998
Hyun Song Shin
Bank for International Settlements (BIS)

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140.

A Violation of Dominance and the Consumption Value of Gambling

University of Southampton Discussion Paper Number 95-106
Posted: 15 Nov 1995
Johnnie E.V. Johnson and Hyun Song Shin
University of Southampton and Bank for International Settlements (BIS)

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