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

  • Bank for International Settlements (BIS)

SCHOLARLY PAPERS

141

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Rank 336

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Top 336

in Total Papers Downloads

97,488

TOTAL CITATIONS
Rank 120

SSRN RANKINGS

Top 120

in Total Papers Citations

3,329

Scholarly Papers (141)

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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 5,829 (3,068)
Citation 81

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financial architecture, regulatory reform

2.

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 5,034 (3,992)
Citation 29

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

3.

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 4,769 (4,411)
Citation 29

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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 4,054 (5,712)
Citation 351

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financial market liquidity, financial cycles, financial intermediary leverage

5.

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 3,454 (7,439)
Citation 108

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

6.

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 3,192 (8,434)
Citation 9

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monetary policy, financial intermediation, financial cycles

7.

Market Tantrums and Monetary Policy

Chicago Booth Research Paper No. 14-09
Number of pages: 56 Posted: 15 Mar 2014
Michael Feroli, Anil K. Kashyap, Kermit L. Schoenholtz and Hyun Song Shin
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 3,069 (8,965)
Citation 86

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8.

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 2,955 (9,469)
Citation 70

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credit crisis, monetary policy

9.

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 2,477 (12,561)
Citation 57

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10.

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 2,133 (16,038)
Citation 16

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11.

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

Downloads 2,127 (16,100)
Citation 62

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

Number of pages: 36 Posted: 20 Mar 2009 Last Revised: 10 Nov 2010
Viral V. Acharya, Viral V. Acharya, Irvind Gujral and Hyun Song Shin
New York University (NYU) - Leonard N. Stern School of Business, London Business School (MBA 2007) and Bank for International Settlements (BIS)
Downloads 1,980 (17,734)
Citation 41

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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 2023
Viral V. Acharya, Viral V. Acharya, Irvind Gujral, Nirupama Kulkarni and Hyun Song Shin
New York University (NYU) - 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 135 (463,300)
Citation 17

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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
Viral V. Acharya, Viral V. Acharya, Irvind Gujral, Nirupama Kulkarni and Hyun Song Shin
New York University (NYU) - 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 12 (1,307,957)
Citation 4
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asset substitution, crisis, regulatory capital, risk-shifting

12.

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
Martin N. Baily, John Y. Campbell, John H. Cochrane, Douglas W. Diamond, Darrell Duffie, Kenneth R. French, Anil K. Kashyap, Frederic S. Mishkin, David S. Scharfstein, Robert J. Shiller, Matthew J. Slaughter, Hyun Song Shin, Jeremy C. Stein and René M. Stulz
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 2,013 (17,562)
Citation 4

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13.

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 1,830 (20,472)
Citation 6

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

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 1,782 (21,330)
Citation 50

Abstract:

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monetary policy, financial intermediation

15.

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
Raphael Auer, Jon Frost, Leonardo Gambacorta, Cyril Monnet, Tara Rice and Hyun Song Shin
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 1,724 (22,423)
Citation 63

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

16.

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 1,667 (23,609)
Citation 41

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Carry Trades, Exchange Rates, Speculation

17.

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 1,559 (26,172)
Citation 148

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financial intermediation, monetary policy, risk-taking channel

18.

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
David Greenlaw, Anil K. Kashyap, Kermit L. Schoenholtz and Hyun Song Shin
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 1,400 (30,662)
Citation 41

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19.

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 1,286 (34,759)
Citation 38

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leverage, financial intermediation chains, financial stability

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 1,283 (34,857)
Citation 90

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Financial cycle, financial intermediation, leverage, liquidity

21.

Liquidity Risk and Contagion

Bank of England Working Paper Series No. 264
Number of pages: 31 Posted: 19 Oct 2005
Rodrigo Cifuentes, Gianluigi Ferrucci and Hyun Song Shin
Central Bank of Chile, European Central Bank (ECB) and Bank for International Settlements (BIS)
Downloads 1,273 (35,265)
Citation 107

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22.

Crisis Resolution and Bank Liquidity

Downloads 1,227 (37,157)
Citation 14

Crisis Resolution and Bank Liquidity

Review of Financial Studies, Forthcoming
Number of pages: 66 Posted: 22 Jan 2010
Viral V. Acharya, Viral V. Acharya, Hyun Song Shin and Tanju Yorulmazer
New York University (NYU) - Leonard N. Stern School of Business, Bank for International Settlements (BIS) and Koc University
Downloads 377 (169,926)
Citation 14

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

Crisis Resolution and Bank Liquidity

AFA 2009 San Francisco Meetings Paper
Number of pages: 50 Posted: 25 Mar 2008 Last Revised: 11 Nov 2010
Viral V. Acharya, Viral V. Acharya, Hyun Song Shin and Tanju Yorulmazer
New York University (NYU) - Leonard N. Stern School of Business, Bank for International Settlements (BIS) and Koc University
Downloads 372 (172,525)

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

Crisis Resolution and Bank Liquidity

Number of pages: 50 Posted: 08 May 2007 Last Revised: 11 Nov 2010
Viral V. Acharya, Viral V. Acharya, Hyun Song Shin and Tanju Yorulmazer
New York University (NYU) - Leonard N. Stern School of Business, Bank for International Settlements (BIS) and Koc University
Downloads 259 (254,337)

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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
Viral V. Acharya, Viral V. Acharya, Hyun Song Shin and Tanju Yorulmazer
New York University (NYU) - Leonard N. Stern School of Business, Bank for International Settlements (BIS) and Koc University
Downloads 148 (429,367)

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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 2023
Viral V. Acharya, Viral V. Acharya, Hyun Song Shin and Tanju Yorulmazer
New York University (NYU) - Leonard N. Stern School of Business, Bank for International Settlements (BIS) and Koc University
Downloads 71 (724,662)

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23.

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

Number of pages: 33 Posted: 18 Nov 1996
Murugappa (Murgie) Krishnan, Srinivasan Sankaraguruswamy and Hyun Song Shin
University of Washington, National University of Singapore (NUS) - Department of Accounting and Bank for International Settlements (BIS)
Downloads 1,205 (38,217)
Citation 4

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24.

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 1,167 (40,067)
Citation 52

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Liquidity, Endogenous Risk, Financial Crises

25.

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 1,110 (43,123)
Citation 24

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Liquidity, asset pricing, global games

26.

Regulating Financial Conglomerates

Downloads 112 (48,003)
Citation 20

Regulating Financial Conglomerates

National Bank of Belgium Working Paper No. 54
Number of pages: 25 Posted: 14 Oct 2010
Xavier Freixas, Gyongyi Loranth, Alan D. Morrison and Hyun Song Shin
Universitat Pompeu Fabra, Centre for Economic Policy Research (CEPR), University of Oxford and Bank for International Settlements (BIS)
Downloads 112 (537,869)
Citation 20

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27.

Non-Bank Financial Intermediaries and Financial Stability

Downloads 980 (51,449)
Citation 18

Non-Bank Financial Intermediaries and Financial Stability

Number of pages: 50 Posted: 18 Nov 2021 Last Revised: 10 May 2022
Sirio Aramonte, Andreas Schrimpf and Hyun Song Shin
Federal Reserve Board of Governors, Bank for International Settlements (BIS) - Monetary and Economic Department and Bank for International Settlements (BIS)
Downloads 977 (50,825)
Citation 18

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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
Sirio Aramonte, Andreas Schrimpf and Hyun Song Shin
Federal Reserve Board of Governors, Bank for International Settlements (BIS) - Monetary and Economic Department and Bank for International Settlements (BIS)
Downloads 3 (1,387,049)
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Financial Intermediation, market liquidity, market-based finance, Non-banks, systemic risk

28.

Original Sin Redux: Role of Duration Risk

Downloads 951 (53,554)
Citation 3

Original Sin Redux: Role of Duration Risk

Number of pages: 71 Posted: 07 Apr 2021 Last Revised: 15 Mar 2025
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 948 (52,914)
Citation 3

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Emerging Markets, US Dollar, Duration Risk, Sovereign Debt, Mutual Funds., strategic complementarity

Original Sin Redux: Role of Duration Risk

NBER Working Paper No. w33816
Number of pages: 71 Posted: 20 May 2025
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 3 (1,387,049)
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29.

BigTech and the Changing Structure of Financial Intermediation

BIS Working Paper No. 779
Number of pages: 45 Posted: 09 Apr 2019
Jon Frost, Leonardo Gambacorta, Yi Huang, Hyun Song Shin and Pablo Zbinden
Bank for International Settlements, Bank for International Settlements (BIS), Graduate Institute of International and CEPR, Bank for International Settlements (BIS) and Mercado Libre
Downloads 933 (55,073)
Citation 11

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

30.

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

Number of pages: 8 Posted: 06 Apr 2022
Angelo Duarte, Jon Frost, Leonardo Gambacorta, Priscilla Koo Wilkens and Hyun Song Shin
Central Bank of Brazil, Bank for International Settlements, Bank for International Settlements (BIS), Central Bank of Brazil and Bank for International Settlements (BIS)
Downloads 902 (57,657)
Citation 4

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Central banks, financial inclusion, innovation, payments

31.

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
Martin N. Baily, John Y. Campbell, John H. Cochrane, Douglas W. Diamond, Darrell Duffie, Kenneth R. French, Anil K. Kashyap, Frederic S. Mishkin, David S. Scharfstein, Robert J. Shiller, Matthew J. Slaughter, Hyun Song Shin and René M. Stulz
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 855 (62,022)
Citation 1

Abstract:

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

32.

Regulating Big Techs in Finance

Number of pages: 9 Posted: 07 Sep 2021
Agustín Carstens, Stijn Claessens, Fernando Restoy and Hyun Song Shin
Bank for International Settlements (BIS), Yale School of Management, Bank for International Settlements (BIS) - Financial Stability Institute and Bank for International Settlements (BIS)
Downloads 828 (64,833)
Citation 25

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33.

The Fintech Gender Gap

Downloads 804 (67,575)
Citation 27

The Fintech Gender Gap

Number of pages: 49 Posted: 22 Mar 2021 Last Revised: 08 Feb 2023
Sharon Chen, Sebastian Doerr, Jon Frost, Leonardo Gambacorta and Hyun Song Shin
Ernst & Young, UK, Bank for International Settlements, Bank for International Settlements, Bank for International Settlements (BIS) and Bank for International Settlements (BIS)
Downloads 804 (66,518)
Citation 3

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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
Sharon Chen, Sebastian Doerr, Jon Frost, Leonardo Gambacorta and Hyun Song Shin
Ernst & Young, UK, Bank for International Settlements, Bank for International Settlements, Bank for International Settlements (BIS) and Bank for International Settlements (BIS)
Downloads 0
Citation 24
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34.

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

Downloads 308 (70,325)
Citation 1

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 Bank for International Settlements (BIS)
Downloads 308 (212,218)
Citation 1

Abstract:

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stablecoins, crypto-assets, central banks, money

35.

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 769 (71,450)
Citation 15

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monetary policy, liquidity facilities

36.

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 & Management and Bank for International Settlements (BIS)
Downloads 741 (75,086)
Citation 83

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return predictability, financial intermediation, macroeconomic dynamics, macroprudential policy

37.

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 740 (75,224)
Citation 5

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

38.

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 - Department of Finance and Accounting
Downloads 728 (76,849)
Citation 3

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

39.

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 707 (79,761)
Citation 54

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asset pricing, financial intermediaries, exchange rates

40.

Communication and Monetary Policy

Downloads 672 (85,041)
Citation 13

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 435 (144,176)
Citation 11

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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 237 (278,033)
Citation 2

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41.

Dollar and Exports

Downloads 663 (86,660)
Citation 21

Dollar and Exports

Review of Financial Studies, forthcoming
Number of pages: 58 Posted: 06 May 2020 Last Revised: 06 Dec 2022
Valentina Bruno and Hyun Song Shin
American University - Department of Finance and Real Estate and Bank for International Settlements (BIS)
Downloads 663 (85,463)
Citation 9

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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)
Downloads 0
Citation 12
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42.

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

Number of pages: 8 Posted: 13 Jan 2021
Andreas Schrimpf, Hyun Song Shin and Vladyslav Sushko
Bank for International Settlements (BIS) - Monetary and Economic Department, Bank for International Settlements (BIS) and Bank for International Settlements (BIS)
Downloads 651 (88,576)
Citation 88

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43.

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 651 (88,576)
Citation 1

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Heterogeneity, Uniqueness, Global Games

44.

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 636 (91,295)
Citation 5

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security brokers and dealers, contracting in financial institutions

45.

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 627 (92,931)
Citation 36

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

46.

Fire-Sale FDI

Downloads 617 (94,910)
Citation 16

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
Viral V. Acharya, Viral V. Acharya, Hyun Song Shin and Tanju Yorulmazer
New York University (NYU) - Leonard N. Stern School of Business, Bank for International Settlements (BIS) and Koc University
Downloads 391 (163,120)
Citation 16

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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
Viral V. Acharya, Viral V. Acharya, Hyun Song Shin and Tanju Yorulmazer
New York University (NYU) - Leonard N. Stern School of Business, Bank for International Settlements (BIS) and Koc University
Downloads 224 (293,988)

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Fire-Sale FDI

CEPR Discussion Paper No. DP6319
Number of pages: 48 Posted: 27 May 2008
Viral V. Acharya, Viral V. Acharya, Hyun Song Shin and Tanju Yorulmazer
New York University (NYU) - Leonard N. Stern School of Business, Bank for International Settlements (BIS) and Koc University
Downloads 2 (1,393,380)
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capital flight, FDI flows, financial crises, fire sales, foreign takeovers

47.

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

Downloads 606 (97,032)
Citation 57

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 534 (112,489)
Citation 28

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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 72 (718,876)
Citation 29

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emerging markets, bond issuance, surrogate intermediaries

48.

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 596 (99,174)
Citation 46

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Debt, Coordination, Liquidity, Common Knowledge

49.

Capital Flows, Cross-Border Banking and Global Liquidity

Downloads 594 (99,620)
Citation 12

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 547 (109,112)
Citation 10

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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: 08 Jan 2023
Valentina Bruno and Hyun Song Shin
American University - Department of Finance and Real Estate and Bank for International Settlements (BIS)
Downloads 47 (897,973)
Citation 2

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50.

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 593 (99,841)
Citation 8

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51.

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 548 (110,287)
Citation 8

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value-at-risk, general equilibrium, financial regulation

52.

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 536 (113,410)
Citation 3

Abstract:

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

53.

Oil and Debt

BIS Quarterly Review March 2015
Number of pages: 11 Posted: 01 Apr 2015
Dietrich Domanski, Jonathan Kearns, Marco J. Lombardi and Hyun Song Shin
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 535 (113,949)
Citation 7

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54.

Currency Depreciation and Emerging Market Corporate Distress

Downloads 528 (115,578)
Citation 21

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 359 (179,514)
Citation 6

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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 167 (386,909)
Citation 15

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

55.

Financial Intermediary Balance Sheet Management

Downloads 521 (117,464)
Citation 18

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 521 (115,980)
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)

Abstract:

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56.

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 516 (118,883)
Citation 26

Abstract:

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Liquidity, contagion, financial crises

57.

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 513 (119,708)
Citation 6

Abstract:

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58.

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
Stefan Avdjiev, Valentina Bruno, Catherine Casanova and Hyun Song Shin
Bank for International Settlements (BIS), American University - Department of Finance and Real Estate, SNB and Bank for International Settlements (BIS)
Downloads 504 (122,280)
Citation 15

Abstract:

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

59.

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 497 (124,341)
Citation 7

Abstract:

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

60.

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
Leonardo Gambacorta, Tommaso Oliviero and Hyun Song Shin
Bank for International Settlements (BIS), CefES and Bank for International Settlements (BIS)
Downloads 478 (130,288)
Citation 15

Abstract:

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

61.

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 477 (130,614)
Citation 31

Abstract:

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62.

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 475 (131,299)
Citation 60

Abstract:

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63.

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 469 (133,363)
Citation 7

Abstract:

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

64.

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 454 (138,728)
Citation 3

Abstract:

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65.

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 & Management and Bank for International Settlements (BIS)
Downloads 435 (145,763)
Citation 32

Abstract:

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

66.

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 422 (151,113)
Citation 20

Abstract:

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67.

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 422 (151,113)

Abstract:

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Transparency, Disclosures, Coordination, Overreaction To Public Information

68.

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

BIS Working Paper No. 592
Number of pages: 43 Posted: 16 Nov 2016
Stefan Avdjiev, Wenxin Du, Catherine Casanova and Hyun Song Shin
Bank for International Settlements (BIS), Harvard Business School, SNB and Bank for International Settlements (BIS)
Downloads 414 (154,397)
Citation 124

Abstract:

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exchange rates, bank leverage, cross-currency basis

69.

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 413 (154,839)
Citation 1

Abstract:

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

70.

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 389 (165,648)
Citation 17

Abstract:

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

71.

The Hunt for Duration: Not Waving but Drowning?

Downloads 386 (167,083)
Citation 22

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 247 (266,910)
Citation 22

Abstract:

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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 139 (452,171)

Abstract:

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

72.

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 385 (168,059)
Citation 1

Abstract:

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

73.

A Theory of Slow-Moving Capital and Contagion

Downloads 378 (171,079)
Citation 31

A Theory of Slow-Moving Capital and Contagion

Number of pages: 45 Posted: 23 Jan 2009 Last Revised: 10 Nov 2010
Viral V. Acharya, Viral V. Acharya, Hyun Song Shin and Tanju Yorulmazer
New York University (NYU) - Leonard N. Stern School of Business, Bank for International Settlements (BIS) and Koc University
Downloads 232 (284,127)
Citation 23

Abstract:

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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
Viral V. Acharya, Viral V. Acharya, Hyun Song Shin and Tanju Yorulmazer
New York University (NYU) - Leonard N. Stern School of Business, Bank for International Settlements (BIS) and Koc University
Downloads 138 (454,854)
Citation 1

Abstract:

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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
Viral V. Acharya, Viral V. Acharya, Hyun Song Shin and Tanju Yorulmazer
New York University (NYU) - Leonard N. Stern School of Business, Bank for International Settlements (BIS) and Koc University
Downloads 8 (1,351,432)
Citation 7
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arbitrage, crises, fire sales, illiquidity, spillover

74.

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
Luca Errico, Artak Harutyunyan, Elena Loukoianova, Richard Walton, Yevgeniya Korniyenko, Goran Amidžic, Hanan AbuShanab and Hyun Song Shin
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 374 (173,107)

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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

75.

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 370 (175,246)
Citation 11

Abstract:

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76.

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 360 (180,591)
Citation 28

Abstract:

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

77.

Which Exchange Rate Matters to Global Investors?

Number of pages: 60 Posted: 11 Dec 2023 Last Revised: 18 Dec 2024
Kristy A.E. Jansen, Hyun Song Shin and Goetz von Peter
University of Southern California - Marshall School of Business, Bank for International Settlements (BIS) and Bank for International Settlements - Research and Policy Analysis
Downloads 355 (183,425)
Citation 1

Abstract:

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currency mismatch, balance sheet effects, emerging markets, exchange rates, institutional investors, sovereign bonds

78.

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
Viral V. Acharya, Viral V. Acharya, Hyun Song Shin and Tanju Yorulmazer
New York University (NYU) - Leonard N. Stern School of Business, Bank for International Settlements (BIS) and Koc University
Downloads 335 (195,325)
Citation 10

Abstract:

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

79.

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 Banks - Federal Reserve Bank of New York and Bank for International Settlements (BIS)
Downloads 325 (201,887)

Abstract:

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financial intermediation, macro-finance, capital regulations

80.

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 316 (208,764)
Citation 6

Abstract:

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

81.

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 314 (209,477)

Abstract:

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Global liquidity, pricing factor, emerging market, exchange rate

82.

Financial Conditions and Purchasing Managers’ Indices: Exploring the Links

BIS Quarterly Review, September 2019
Number of pages: 15 Posted: 14 Oct 2019
Burcu Erik, Marco J. Lombardi, Dubravko Mihaljek and Hyun Song Shin
Bank for International Settlements (BIS), Bank for International Settlements (BIS) - Monetary and Economic Department, Croatian National Bank and Bank for International Settlements (BIS)
Downloads 295 (224,032)

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83.

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 286 (231,461)

Abstract:

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

84.

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 286 (231,461)
Citation 28

Abstract:

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Imperfect information, monopolistic competition, targeting

85.

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 280 (236,609)
Citation 7

Abstract:

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market liquidity, risk-taking channel, runs

86.

Stablecoins Versus Tokenised Deposits: Implications for the Singleness of Money

BIS Bulletin No 73, 2023, ISBN: 978-92-9259-650-7
Number of pages: 9 Posted: 22 May 2023
Rodney Garratt and Hyun Song Shin
Bank for International Settlements (BIS) and Bank for International Settlements (BIS)
Downloads 263 (252,087)
Citation 7

Abstract:

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87.

How Abundant Are Reserves? Evidence from the Wholesale Payment System

Downloads 262 (253,062)
Citation 5

How Abundant Are Reserves? Evidence from the Wholesale Payment System

FRB of New York Staff Report No. 1040
Number of pages: 26 Posted: 29 Nov 2022
Gara Afonso, Darrell Duffie, Lorenzo Rigon and Hyun Song Shin
Federal Reserve Bank of New York, Stanford University - Graduate School of Business, Stanford University - Department of Economics and Bank for International Settlements (BIS)
Downloads 232 (284,127)

Abstract:

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real-time gross settlement (RTGS) systems, quantitative tightening, balance sheet management, reserve balances

How Abundant are Reserves? Evidence from the Wholesale Payment System

NBER Working Paper No. w30736
Number of pages: 26 Posted: 12 Dec 2022 Last Revised: 14 Apr 2023
Gara Afonso, Darrell Duffie, Lorenzo Rigon and Hyun Song Shin
Federal Reserve Bank of New York, Stanford University - Graduate School of Business, Stanford University and Bank for International Settlements (BIS)
Downloads 30 (1,074,034)
Citation 5

Abstract:

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88.

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 256 (259,134)
Citation 86

Abstract:

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cross-border banking flows, bank leverage, global banks

89.

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 246 (269,667)
Citation 30

Abstract:

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

90.

Analytics of Sovereign Debt Restructuring

Bank of England Working Paper No. 203
Number of pages: 26 Posted: 30 Sep 2004
Andrew Haldane, Adrian Penalver, Victoria Saporta and Hyun Song Shin
Bank of England, Bank of England, Bank of England and Bank for International Settlements (BIS)
Downloads 234 (283,337)
Citation 12

Abstract:

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

91.

Bank Capital and Dividend Externalities

Downloads 222 (298,049)
Citation 34

Bank Capital and Dividend Externalities

BIS Working Paper No. 580
Number of pages: 56 Posted: 15 Sep 2016
Viral V. Acharya, Viral V. Acharya, Hanh Le and Hyun Song Shin
New York University (NYU) - Leonard N. Stern School of Business, University of Illinois at Chicago and Bank for International Settlements (BIS)
Downloads 151 (422,279)

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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
Viral V. Acharya, Viral V. Acharya, Hanh Le and Hyun Song Shin
New York University (NYU) - Leonard N. Stern School of Business, University of Illinois at Chicago and Bank for International Settlements (BIS)
Downloads 61 (788,016)
Citation 26

Abstract:

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Bank Capital and Dividend Externalities

CEPR Discussion Paper No. DP9479
Number of pages: 53 Posted: 24 May 2013
Viral V. Acharya, Viral V. Acharya, Hanh T. Le and Hyun Song Shin
New York University (NYU) - Leonard N. Stern School of Business, New York University (NYU) - Leonard N. Stern School of Business and Bank for International Settlements (BIS)
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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
Viral V. Acharya, Viral V. Acharya, Hanh T. Le and Hyun Song Shin
New York University (NYU) - Leonard N. Stern School of Business, New York University (NYU) - Leonard N. Stern School of Business and Bank for International Settlements (BIS)
Downloads 2 (1,393,380)
Citation 8
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externalities, financial crises, franchise value, risk-shifting

92.

Optimal Collective Action Clause Thresholds

Bank of England Working Paper No. 249
Number of pages: 25 Posted: 19 May 2005
Andrew Haldane, Adrian Penalver, Victoria Saporta and Hyun Song Shin
Bank of England, Bank of England, Bank of England and Bank for International Settlements (BIS)
Downloads 219 (302,009)
Citation 6

Abstract:

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

93.

Capital Flows and the Risk-Taking Channel of Monetary Policy

Downloads 216 (306,093)
Citation 91

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 162 (397,425)
Citation 16

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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: 05 Apr 2023
Valentina Bruno and Hyun Song Shin
American University - Department of Finance and Real Estate and Bank for International Settlements (BIS)
Downloads 54 (839,349)
Citation 75

Abstract:

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94.

Tracking the International Footprints of Global Firms

BIS Quarterly Review, March 2018
Number of pages: 20 Posted: 13 Mar 2018
Stefan Avdjiev, Mary Everett, Philip R. Lane and Hyun Song Shin
Bank for International Settlements (BIS), Central Bank of Ireland, Trinity College (Dublin) - Department of Economics and Bank for International Settlements (BIS)
Downloads 214 (308,806)
Citation 6

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95.

Overcoming Original Sin: Insights from a New Dataset

BIS Working Papers No 1075, 2023
Number of pages: 34 Posted: 04 Mar 2023
Mert Onen, Hyun Song Shin and Goetz von Peter
Bank for International Settlements, Bank for International Settlements (BIS) and Bank for International Settlements - Research and Policy Analysis
Downloads 211 (312,917)

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Emerging market economies, sovereign bonds, international lending, international financial markets, foreign investors, original sin

96.

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 197 (333,663)
Citation 53

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

97.

Theory of supply chains: a working capital approach

BIS Working Papers No. 1070
Number of pages: 42 Posted: 16 Feb 2023
Se-Jik Kim and Hyun Song Shin
Seoul National University - School of Economics and Bank for International Settlements (BIS)
Downloads 189 (346,735)

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global value chains, offshoring, trade finance

98.

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 182 (358,826)

Abstract:

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

99.

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
Boris Hofmann, Hyun Song Shin and Mauricio Villamizar‐Villegas
Bank for International Settlements (BIS) - Monetary and Economic Department, Bank for International Settlements (BIS) and Central Bank of Colombia
Downloads 180 (362,412)
Citation 12

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

100.

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 173 (375,472)
Citation 47

Abstract:

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

101.

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 & Management and Bank for International Settlements (BIS)
Downloads 173 (375,472)
Citation 6

Abstract:

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monetary policy, financial intermediation, capital markets

102.

Exploring the Dynamics of Global Liquidity

IMF Working Paper No. 12/246
Number of pages: 48 Posted: 01 Nov 2012
Sally Chen, Philip Liu, Andrea Michaela Maechler, Chris Marsh, Sergejs Saksonovs and Hyun Song Shin
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 162 (397,628)

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

103.

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 160 (402,002)
Citation 17

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

104.

Breaking Free of the Triple Coincidence in International Finance

BIS Working Paper No. 524
Number of pages: 41 Posted: 21 Oct 2015
Stefan Avdjiev, Robert N. McCauley, Robert N. McCauley and Hyun Song Shin
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 157 (408,503)
Citation 22

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capital flows, global liquidity, international currencies

105.

The Bank of Amsterdam and the limits of fiat money

De Nederlandsche Bank Working Paper No. 764
Number of pages: 37 Posted: 03 Feb 2023
Wilko Bolt, Jon Frost, Hyun Song Shin and Peter Wierts
De Nederlandsche Bank (Dutch Central Bank), Bank for International Settlements, Bank for International Settlements (BIS) and Bank for International Settlements (BIS)
Downloads 156 (410,742)

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central banks, negative equity, fiat money, trust

106.

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 134 (464,915)

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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

107.

Distributed Ledgers and the Governance of Money

Downloads 129 (479,230)
Citation 4

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 126 (490,308)
Citation 4

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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 3 (1,387,049)
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blockchain, Consensus, decentralized finance, distributed ledger technology, DLT, Global game, market design, money

108.

Macroprudential Policies in Open Emerging Economies

NBER Working Paper No. w17780
Number of pages: 62 Posted: 27 Jan 2012 Last Revised: 30 Jan 2023
Joon-Ho Hahm, Frederic S. Mishkin, Hyun Song Shin and Kwanho Shin
Yonsei University - Graduate School of International Studies, Columbia University - Columbia Business School, Finance, Bank for International Settlements (BIS) and Korea University
Downloads 128 (482,182)
Citation 1

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109.

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 127 (488,198)
Citation 11

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global value chains, dollar invoicing, global liquidity

110.

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 127 (485,234)
Citation 1

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currency appreciation, capital flows, global games

111.

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 123 (497,457)
Citation 6

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central bank communication, market expectations, crowding out

112.

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 118 (513,608)
Citation 1

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Debt maturity, international financial architecture, creditor pre-emption

113.

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: 01 Mar 2023
Martin N. Baily, John Y. Campbell, John H. Cochrane, Douglas W. Diamond, Darrell Duffie, Kenneth R. French, Anil K. Kashyap, Frederic S. Mishkin, David S. Scharfstein, Robert J. Shiller, Matthew J. Slaughter, Hyun Song Shin and René M. Stulz
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 113 (530,739)
Citation 1

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114.

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

BIS Working Paper No. 847
Number of pages: 18 Posted: 15 Apr 2020
Burcu Erik, Marco J. Lombardi, Dubravko Mihaljek and Hyun Song Shin
Bank for International Settlements (BIS), Bank for International Settlements (BIS) - Monetary and Economic Department, Croatian National Bank and Bank for International Settlements (BIS)
Downloads 95 (600,402)
Citation 19

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

115.

Global Liquidity Through the Lens of Monetary Aggregates

IMF Working Paper No. 14/9
Number of pages: 50 Posted: 20 Feb 2014
Kyuil Chung, Jong-Eun Lee, Elena Loukoianova, Hail Park and Hyun Song Shin
Institute for Monetary & Economic Research, Sejong University - Department of Economics, International Monetary Fund (IMF), Kyung Hee University and Bank for International Settlements (BIS)
Downloads 95 (600,402)
Citation 5

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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

116.

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 91 (616,949)
Citation 2

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117.

Procyclical Leverage and Value-at-Risk

NBER Working Paper No. w18943
Number of pages: 43 Posted: 05 Apr 2013 Last Revised: 06 Apr 2023
Tobias Adrian and Hyun Song Shin
International Monetary Fund and Bank for International Settlements (BIS)
Downloads 91 (616,949)
Citation 52

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118.

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
Andreas Schrimpf, 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 90 (621,180)
Citation 15

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119.

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 76 (686,786)

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

120.

Procyclicality and Monetary Aggregates

NBER Working Paper No. w16836
Number of pages: 28 Posted: 28 Feb 2011 Last Revised: 03 Jul 2023
Hyun Song Shin and Kwanho Shin
Bank for International Settlements (BIS) and Korea University
Downloads 64 (754,411)

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121.

Non-Core Bank Liabilities and Financial Vulnerability

NBER Working Paper No. w18428
Number of pages: 54 Posted: 29 Sep 2012 Last Revised: 10 May 2023
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 63 (760,642)
Citation 11

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122.

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 51 (845,528)
Citation 18

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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
Patrick McGuire, Ilhyock Shim, Hyun Song Shin and Vladyslav Sushko
Bank for International Settlements (BIS), Bank for International Settlements (BIS), Bank for International Settlements (BIS) and Bank for International Settlements (BIS)
Downloads 49 (861,400)

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Institutional investors, asset managers, FX hedging, dollar funding, emerging Asia

124.

Assessing Macroprudential Policies: Case of Korea

NBER Working Paper No. w19084
Number of pages: 37 Posted: 31 May 2013 Last Revised: 23 Feb 2023
Valentina Bruno and Hyun Song Shin
American University - Department of Finance and Real Estate and Bank for International Settlements (BIS)
Downloads 48 (869,640)

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125.

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)
Downloads 36 (981,105)

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126.

Disclosures and Asset Returns

Number of pages: 39 Posted: 04 Jun 2002
Hyun Song Shin
Bank for International Settlements (BIS)
Downloads 28 (1,068,459)
Citation 16
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Binomial trees, disclosure games, residual uncertainty

127.

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)
Downloads 24 (1,116,317)
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currency crises, emerging market bubbles, speculation

128.

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, Kiffmeister Consulting and Bank for International Settlements (BIS)
Downloads 18 (1,190,539)
Citation 7
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129.

Fire Sales, Foreign Entry and Bank Liquidity

CEPR Discussion Paper No. DP6309
Number of pages: 62 Posted: 27 May 2008
Viral V. Acharya, Viral V. Acharya, Hyun Song Shin and Tanju Yorulmazer
New York University (NYU) - Leonard N. Stern School of Business, Bank for International Settlements (BIS) and Koc University
Downloads 9 (1,290,425)
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crises, distress, limited pledgeability, liquidation cost, systemic risk

130.

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 & Management and Bank for International Settlements (BIS)
Downloads 8 (1,298,689)
Citation 1
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intermediary asset pricing, Leverage Cycles, Macro-Finance

131.

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)
Downloads 7 (1,306,323)
Citation 5
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risk taking channel of monetary policy

132.

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
Frédéric Boissay, Torsten Ehlers, Leonardo Gambacorta and Hyun Song Shin
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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digital platforms, big techs, finance, data privacy, competition

133.

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, Kiffmeister Consulting and Bank for International Settlements (BIS)

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134.

Global Liquidity: A Selective Review

Annual Review of Economics, Vol. 9, pp. 587-612, 2017
Posted: 14 Aug 2017
Benjamin H. Cohen, Dietrich Domanski, Ingo Fender and Hyun Song Shin
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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135.

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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136.

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

137.

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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138.

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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139.

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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140.

Adversarial and Inquisitorial Procedures in Arbitration

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

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141.

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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