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

135

DOWNLOADS
Rank 283

SSRN RANKINGS

Top 283

in Total Papers Downloads

72,058

SSRN CITATIONS
Rank 120

SSRN RANKINGS

Top 120

in Total Papers Citations

1,892

CROSSREF CITATIONS

3,007

Scholarly Papers (135)

1.

The Shadow Banking System: Implications for Financial Regulation

Number of pages: 18 Posted: 30 Jul 2009
Tobias Adrian and Hyun Song Shin
International Monetary Fund and Bank for International Settlements (BIS)
Downloads 4,918 (2,209)
Citation 67

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 4,489 (2,612)
Citation 25

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 3,863 (3,383)
Citation 29

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

4.

Liquidity and Leverage

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 3,578 (3,850)
Citation 351

Abstract:

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financial market liquidity, financial cycles, financial intermediary leverage

5.

Liquidity, Monetary Policy, and Financial Cycles

Number of pages: 7 Posted: 11 Feb 2008
Tobias Adrian and Hyun Song Shin
International Monetary Fund and Bank for International Settlements (BIS)
Downloads 3,076 (5,002)
Citation 9

Abstract:

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monetary policy, financial intermediation, financial cycles

6.

Financial Intermediaries, Financial Stability, and Monetary Policy

Number of pages: 39 Posted: 15 Sep 2008
Tobias Adrian and Hyun Song Shin
International Monetary Fund and Bank for International Settlements (BIS)
Downloads 2,811 (5,818)
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

Number of pages: 14 Posted: 22 Jan 2009
Tobias Adrian and Hyun Song Shin
International Monetary Fund and Bank for International Settlements (BIS)
Downloads 2,798 (5,851)
Citation 57

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 2,529 (6,888)
Citation 86

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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 1,901 (10,711)
Citation 41

Abstract:

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Credit Crisis, Bank Capital, Dividends

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

Number of pages: 43 Posted: 21 Mar 2011 Last Revised: 02 Sep 2021
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 110 (315,418)

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

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 (746,477)
Citation 4
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asset substitution, crisis, regulatory capital, risk-shifting

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 2,020 (9,890)
Citation 16

Abstract:

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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 Business School - Finance and Economics, 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 1,804 (11,879)
Citation 3

Abstract:

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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 1,671 (13,419)
Citation 3

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

13.

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 1,454 (16,705)
Citation 48

Abstract:

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Carry Trades, Exchange Rates, Speculation

14.

Financial Intermediaries and Monetary Economics

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 1,385 (17,979)
Citation 98

Abstract:

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financial intermediation, monetary policy, risk-taking channel

15.

Monetary Cycles, Financial Cycles and the Business Cycle

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 1,374 (18,186)
Citation 37

Abstract:

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monetary policy, financial intermediation

16.

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 1,206 (22,077)
Citation 41

Abstract:

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17.

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 1,175 (22,942)
Citation 4

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18.

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 1,143 (23,909)
Citation 107

Abstract:

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19.

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 1,081 (25,928)
Citation 67

Abstract:

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Financial cycle, financial intermediation, leverage, liquidity

20.
Downloads 1,011 ( 28,551)
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 University of Amsterdam - Faculty of Economics and Business (FEB)
Downloads 328 (117,738)

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 University of Amsterdam - Faculty of Economics and Business (FEB)
Downloads 317 (122,125)
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 University of Amsterdam - Faculty of Economics and Business (FEB)
Downloads 185 (208,032)

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 University of Amsterdam - Faculty of Economics and Business (FEB)
Downloads 122 (292,796)

Abstract:

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Crisis Resolution and Bank Liquidity

Number of pages: 50 Posted: 08 Dec 2009 Last Revised: 16 Jul 2010
ProfessorNew York University - Leonard N. Stern School of Business, Bank for International Settlements (BIS) and University of Amsterdam - Faculty of Economics and Business (FEB)
Downloads 59 (457,905)

Abstract:

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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 1,001 (28,962)
Citation 35

Abstract:

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leverage, financial intermediation chains, financial stability

22.

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 991 (29,353)
Citation 18

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 944 (31,443)
Citation 49

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 906 (33,353)
Citation 11

Abstract:

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Liquidity, asset pricing, global games

25.
Downloads 83 ( 37,230)
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 83 (379,173)
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 Business School - Finance and Economics, 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 724 (45,271)
Citation 1

Abstract:

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

27.

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 682 (49,068)
Citation 3

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

28.

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 663 (50,886)
Citation 5

Abstract:

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

29.

Financial Intermediation, Asset Prices and Macroeconomic Dynamics

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 602 (57,628)
Citation 72

Abstract:

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return predictability, financial intermediation, macroeconomic dynamics, macroprudential policy

30.

Procyclical Leverage and Value-at-Risk

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 601 (57,748)
Citation 4

Abstract:

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security brokers and dealers, contracting in financial institutions

31.

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 593 (58,783)
Citation 1

Abstract:

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Heterogeneity, Uniqueness, Global Games

32.
Downloads 567 ( 62,148)
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 379 (99,958)
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 (205,024)
Citation 2

Abstract:

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33.

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 565 (62,427)
Citation 36

Abstract:

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

34.

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 552 (64,305)
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 491 (73,641)
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 40 (542,368)
Citation 6

Abstract:

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emerging markets, bond issuance, surrogate intermediaries

36.

Risk Appetite and Exchange Rates

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 520 (69,326)
Citation 54

Abstract:

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asset pricing, financial intermediaries, exchange rates

37.

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 514 (70,518)
Citation 11

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

38.

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 507 (71,529)
Citation 3

Abstract:

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

39.
Downloads 506 ( 71,675)
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 University of Amsterdam - Faculty of Economics and Business (FEB)
Downloads 351 (109,108)
Citation 24

Abstract:

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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 University of Amsterdam - Faculty of Economics and Business (FEB)
Downloads 154 (243,666)

Abstract:

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Fire-Sale FDI

Number of pages: 48 Posted: 27 May 2008
ProfessorNew York University - Leonard N. Stern School of Business, Bank for International Settlements (BIS) and University of Amsterdam - Faculty of Economics and Business (FEB)
Downloads 1 (839,238)
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capital flight, FDI flows, financial crises, fire sales, foreign takeovers

40.

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 484 (75,690)
Citation 7

Abstract:

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value-at-risk, general equilibrium, financial regulation

41.

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 461 (80,263)
Citation 26

Abstract:

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Liquidity, contagion, financial crises

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 436 (84,976)
Citation 10

Abstract:

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Gross capital flows, leverage, credit booms and busts

Capital Flows, Cross-Border Banking and Global Liquidity

Number of pages: 51 Posted: 11 May 2013 Last Revised: 10 Jul 2021
Valentina Bruno and Hyun Song Shin
American University - Department of Finance and Real Estate and Bank for International Settlements (BIS)
Downloads 23 (649,070)
Citation 2

Abstract:

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43.

Prices and Quantities in the Monetary Policy Transmission Mechanism

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 433 (86,438)
Citation 12

Abstract:

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monetary policy, liquidity facilities

44.

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 417 (90,253)
Citation 28

Abstract:

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45.

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 413 (91,294)
Citation 3

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46.

Systemic Risk and Liquidity in Payment Systems

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 391 (97,237)
Citation 7

Abstract:

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

47.

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, Bank for International Settlements (BIS) and Bank for International Settlements (BIS)
Downloads 388 (98,141)
Citation 15

Abstract:

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

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 314 (123,335)
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 67 (428,757)
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

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

49.

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 381 (100,213)
Citation 20

Abstract:

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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 371 (103,281)
Citation 4

Abstract:

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51.

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 368 (104,205)

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Transparency, Disclosures, Coordination, Overreaction To Public Information

52.

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 366 (104,836)
Citation 1

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

53.
Downloads 362 (106,134)
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 361 (105,673)
Citation 60

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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 (839,238)
Citation 9
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54.

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 344 (112,767)
Citation 6

Abstract:

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55.

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 333 (116,542)
Citation 11

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56.

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

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 333 (116,542)

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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

Financial Intermediary Balance Sheet Management

Number of pages: 30 Posted: 04 Jan 2012
Tobias Adrian and Hyun Song Shin
International Monetary Fund and Bank for International Settlements (BIS)
Downloads 331 (116,593)
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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58.

Leverage Asset Pricing

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 317 (122,858)
Citation 34

Abstract:

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

59.
Downloads 306 (127,545)
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 University of Amsterdam - Faculty of Economics and Business (FEB)
Downloads 185 (208,032)
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
ProfessorNew York University - Leonard N. Stern School of Business, Bank for International Settlements (BIS) and University of Amsterdam - Faculty of Economics and Business (FEB)
Downloads 115 (305,542)
Citation 1

Abstract:

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A Theory of Slow-Moving Capital and Contagion

Number of pages: 47 Posted: 18 Feb 2009
ProfessorNew York University - Leonard N. Stern School of Business, Bank for International Settlements (BIS) and University of Amsterdam - Faculty of Economics and Business (FEB)
Downloads 6 (789,445)
Citation 4
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arbitrage, crises, fire sales, illiquidity, spillover

60.

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, Bank for International Settlements (BIS) and Bank for International Settlements (BIS)
Downloads 281 (139,474)
Citation 49

Abstract:

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exchange rates, bank leverage, cross-currency basis

61.

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 280 (140,005)
Citation 15

Abstract:

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

62.

Original Sin Redux

Number of pages: 41 Posted: 07 Apr 2021
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 276 (142,177)
Citation 1

Abstract:

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Emerging Markets, US Dollar, Sovereign Debt, Investor types

63.

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 University of Amsterdam - Faculty of Economics and Business (FEB)
Downloads 275 (142,723)
Citation 10

Abstract:

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

64.

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 271 (145,361)

Abstract:

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

65.
Downloads 253 (155,818)
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) - Monetary and Economic Department
Downloads 138 (268,146)
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) - Monetary and Economic Department
Downloads 115 (305,542)

Abstract:

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

66.

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 242 (162,099)
Citation 28

Abstract:

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

67.

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 240 (163,405)
Citation 28

Abstract:

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Imperfect information, monopolistic competition, targeting

68.

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 226 (173,154)
Citation 3

Abstract:

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

69.

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 222 (176,095)
Citation 7

Abstract:

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market liquidity, risk-taking channel, runs

70.

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 (188,780)
Citation 16

Abstract:

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

71.
Downloads 197 (196,714)

The Fintech Gender Gap

Number of pages: 41 Posted: 22 Mar 2021 Last Revised: 20 Jul 2021
Ernst & Young, UK, Bank for International Settlements (BIS) - Monetary and Economic Department, Bank for International Settlements, Bank for International Settlements (BIS) and Bank for International Settlements (BIS)
Downloads 197 (196,603)

Abstract:

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fintech, gender, financial inclusion, personal data, privacy

The Fintech Gender Gap

Number of pages: 39 Posted: 14 Jul 2021
Ernst & Young, UK, Bank for International Settlements (BIS) - Monetary and Economic Department, Bank for International Settlements, Bank for International Settlements (BIS) and Bank for International Settlements (BIS)
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72.

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) - Monetary and Economic Department
Downloads 191 (202,255)
Citation 26

Abstract:

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73.

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 183 (210,096)
Citation 7

Abstract:

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

74.

On the Scale of Financial Intermediaries

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 178 (215,186)

Abstract:

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financial intermediation, macro-finance, capital regulations

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 57 (465,809)
Citation 1

Abstract:

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stablecoins, crypto-assets, central banks, money

76.

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 155 (244,426)
Citation 3

Abstract:

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77.

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 153 (244,426)
Citation 11

Abstract:

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

78.

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 152 (245,851)
Citation 1

Abstract:

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

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 112 (311,365)
Citation 16

Abstract:

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Capital flows, exchange rate appreciation, credit booms

Capital Flows and the Risk-Taking Channel of Monetary Policy

Number of pages: 46 Posted: 05 Apr 2013 Last Revised: 07 Oct 2021
Valentina Bruno and Hyun Song Shin
American University - Department of Finance and Real Estate and Bank for International Settlements (BIS)
Downloads 25 (634,127)
Citation 75

Abstract:

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80.
Downloads 135 (270,300)
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 110 (315,418)

Abstract:

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bank dividends, capital erosion, systemic risk

Bank Capital and Dividend Externalities

Number of pages: 61 Posted: 10 Dec 2013 Last Revised: 07 Nov 2021
ProfessorNew York University - Leonard N. Stern School of Business, University of Illinois at Chicago and Bank for International Settlements (BIS)
Downloads 18 (687,995)
Citation 4

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Bank Capital and Dividend Externalities

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 (789,445)
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externalities, financial crises, franchise value, risk-shifting

Bank Capital and Dividend Externalities

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 (839,238)
Citation 8
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externalities, financial crises, franchise value, risk-shifting

81.

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 (277,959)
Citation 4

Abstract:

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

82.
Downloads 127 (282,873)
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 Jun 2021
Valentina Bruno and Hyun Song Shin
American University - Department of Finance and Real Estate and Bank for International Settlements (BIS)
Downloads 127 (284,030)
Citation 4

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Dollar and Exports

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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83.

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 127 (282,873)
Citation 16

Abstract:

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

84.

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 126 (284,672)
Citation 26

Abstract:

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

85.

Exploring the Dynamics of Global Liquidity

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 125 (286,329)

Abstract:

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

86.

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 122 (291,461)
Citation 6

Abstract:

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87.

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 118 (298,465)
Citation 10

Abstract:

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capital flows, global liquidity, international currencies

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 118 (298,465)
Citation 86

Abstract:

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cross-border banking flows, bank leverage, global banks

89.

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 117 (300,262)
Citation 2

Abstract:

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

90.

Macro Risk Premium and Intermediary Balance Sheet Quantities

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 113 (307,783)
Citation 6

Abstract:

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monetary policy, financial intermediation, capital markets

91.

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 104 (325,847)
Citation 1

Abstract:

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currency appreciation, capital flows, global games

92.

Procyclicality and the Search for Early Warning Indicators

Number of pages: 17 Posted: 09 Jan 2014
Hyun Song Shin
Bank for International Settlements (BIS)
Downloads 101 (334,289)

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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

93.

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), University of Naples Federico II - CSEF - Center for Studies in Economics and Finance and Bank for International Settlements (BIS)
Downloads 99 (336,504)
Citation 2

Abstract:

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

94.

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
Bank of England and Bank for International Settlements (BIS)
Downloads 93 (350,189)
Citation 1

Abstract:

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Debt maturity, international financial architecture, creditor pre-emption

95.

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 79 (386,692)

Abstract:

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96.

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 77 (392,423)

Abstract:

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

97.

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

BIS Working Paper No. 774
Number of pages: 36 Posted: 19 Mar 2019
Bank for International Settlements (BIS) - Monetary and Economic Department, Bank for International Settlements (BIS) and Central Bank of Colombia
Downloads 76 (401,269)
Citation 2

Abstract:

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

98.

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 71 (410,543)
Citation 11

Abstract:

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global value chains, dollar invoicing, global liquidity

99.

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 69 (416,860)

Abstract:

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100.

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 69 (416,860)
Citation 6

Abstract:

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central bank communication, market expectations, crowding out

101.

Global Liquidity Through the Lens of Monetary Aggregates

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 65 (430,121)
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

102.

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 57 (458,831)

Abstract:

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

103.

Non-bank financial intermediaries and financial stability

Number of pages: 48 Posted: 18 Nov 2021
Bank for International Settlements (BIS), Bank for International Settlements (BIS) - Monetary and Economic DepartmentCREATES - Aarhus University and Bank for International Settlements (BIS)
Downloads 43 (526,272)

Abstract:

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

104.

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 42 (521,590)

Abstract:

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105.

Procyclical Leverage and Value-at-Risk

Number of pages: 43 Posted: 05 Apr 2013 Last Revised: 06 Oct 2021
Tobias Adrian and Hyun Song Shin
International Monetary Fund and Bank for International Settlements (BIS)
Downloads 41 (526,272)
Citation 52

Abstract:

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106.

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 40 (531,134)
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

107.

Macroprudential Policies in Open Emerging Economies

Number of pages: 62 Posted: 27 Jan 2012 Last Revised: 31 Jan 2021
Yonsei University - Graduate School of International Studies, Columbia Business School - Finance and Economics, Bank for International Settlements (BIS) and Korea University
Downloads 35 (556,616)
Citation 1

Abstract:

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108.

Procyclicality and Monetary Aggregates

Number of pages: 28 Posted: 28 Feb 2011 Last Revised: 04 Jul 2021
Hyun Song Shin and Kwanho Shin
Bank for International Settlements (BIS) and Korea University
Downloads 33 (567,443)

Abstract:

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109.

Non-Core Bank Liabilities and Financial Vulnerability

Number of pages: 54 Posted: 29 Sep 2012 Last Revised: 08 Nov 2021
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 31 (578,461)
Citation 11

Abstract:

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110.

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

Number of pages: 56 Posted: 01 Sep 2012 Last Revised: 08 Aug 2021
Tobias Adrian, Paolo Colla and Hyun Song Shin
International Monetary Fund, Bocconi University - Department of Finance and Bank for International Settlements (BIS)
Downloads 31 (578,461)
Citation 5

Abstract:

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111.

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 28 (596,507)
Citation 3

Abstract:

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112.

Assessing Macroprudential Policies: Case of Korea

Number of pages: 37 Posted: 31 May 2013 Last Revised: 25 Aug 2021
Valentina Bruno and Hyun Song Shin
American University - Department of Finance and Real Estate and Bank for International Settlements (BIS)
Downloads 24 (622,763)

Abstract:

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113.

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)
Downloads 22 (636,686)
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114.

Distributed Ledgers and the Governance of Money

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 21 (643,716)

Abstract:

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

115.

Disclosures and Asset Returns

Number of pages: 39 Posted: 04 Jun 2002
Hyun Song Shin
Bank for International Settlements (BIS)
Downloads 21 (643,716)
Citation 16
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Binomial trees, disclosure games, residual uncertainty

116.

Welfare Effects of Public Information

Number of pages: 23 Posted: 08 Jun 2016
Stephen Morris and Hyun Song Shin
MIT and Bank for International Settlements (BIS)
Downloads 15 (687,307)

Abstract:

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117.

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)
Downloads 12 (710,786)
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118.

Carry Trades, Monetary Policy and Speculative Dynamics

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 8 (742,295)
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currency crises, emerging market bubbles, speculation

119.

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 Business School - Finance and Economics, 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
Downloads 7 (750,276)
Citation 4
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120.

Fire Sales, Foreign Entry and Bank Liquidity

Number of pages: 62 Posted: 27 May 2008
ProfessorNew York University - Leonard N. Stern School of Business, Bank for International Settlements (BIS) and University of Amsterdam - Faculty of Economics and Business (FEB)
Downloads 6 (758,185)
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crises, distress, limited pledgeability, liquidation cost, systemic risk

121.

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

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)
Downloads 4 (773,539)
Citation 7
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122.

Risk-Taking Channel of Monetary Policy

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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risk taking channel of monetary policy

123.

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

124.

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

125.

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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126.

Global Liquidity: A Selective Review

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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127.

Dynamic Leverage Asset Pricing

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

128.

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 Business School - Finance and Economics, 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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129.

Endogenous Extreme Events and the Dual Role of Prices

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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130.

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

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

131.

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

Posted: 18 Oct 2010
Tobias Adrian and Hyun Song Shin
International Monetary Fund and Bank for International Settlements (BIS)

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132.

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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133.

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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134.

Adversarial and Inquisitorial Procedures in Arbitration

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

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135.

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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