Hyun Song Shin

All BIS publications (77)

BIS Working Paper No 1350 21 May 2026

Elasticity of money in production networks, working capital, credit lines and financial conditions

The elastic supply of money through overdrafts and credit lines overcomes cash-in-advance constraints, enabling large-value…

Ryan Niladri Banerjee

Hyun Song Shin

and

Jose María Vidal Pastor

Publication 16 Mar 2026

BISTRO: a general purpose oracle for macroeconomic time series

Batuhan Koyuncu

Byeungchun Kwon

Marco Jacopo Lombardi

Fernando Perez-Cruz

and

Hyun Song Shin

BIS Working Paper No 1337 16 Mar 2026

Introducing BISTRO: a foundational model for unconditional and conditional forecasting of macroeconomic time series

This article introduces the BIS Time-series Regression Oracle (BISTRO), a general purpose time series model for macroeconomic…

Batuhan Koyuncu

Byeungchun Kwon

Marco Jacopo Lombardi

Fernando Perez-Cruz

and

Hyun Song Shin

BIS Working Paper No 1335 10 Mar 2026

Tokenomics and blockchain fragmentation

Money is a coordination device underpinned by strong network effects: the more others accept a form of money, the more I wish…

Hyun Song Shin

BIS Bulletin No 118 3 Dec 2025

International footprint of global firms: residence and nationality perspectives on maritime shipments

Nationality-based measurement that consolidates firms according to the nationality of the ultimate parent firm provides new…

Han Qiu

Hyun Song Shin

and

Leanne Si Ying Zhang

BIS Working Paper No 1301 11 Nov 2025

Competing digital monies

We compare three competing digital payment instruments: bank deposits, digital platform tokens and central bank digital…

Jon Frost

Jean-Charles Rochet

Hyun Song Shin

and

Marianne Verdier

BIS Working Paper No 1299 16 Oct 2025

Mapping the space of central bankers' ideas

This paper explores the landscape of economic ideas as revealed in the machine learning embedding of a comprehensive dataset of…

Taejin Park

Fernando Perez-Cruz

and

Hyun Song Shin

BIS Bulletin No 111 13 Aug 2025

An approach to anti-money laundering compliance for cryptoassets

Existing anti-money laundering (AML) approaches relying on trusted intermediaries have limited effectiveness with decentralised…

Iñaki Aldasoro

Jon Frost

Sang Hyuk Lim

Fernando Perez-Cruz

and

Hyun Song Shin

BIS Working Paper No 1273 20 Jun 2025

Global portfolio investments and FX derivatives

We show that outstanding volumes in FX swaps serve as a good indicator for the hedging activity associated with portfolio…

Tsvetelina Nenova

Andreas Schrimpf

and

Hyun Song Shin

All external publications (128)

External publication 1 Sep 1991

Optimal betting odds against insider traders

Hyun Song Shin

External publication 1 Jul 1991

A reconstruction of Jeffrey's notion of ratifiability in terms of counterfactual beliefs

Hyun Song Shin

All speeches (65)

Speech 14 May 2019

What is behind the recent slowdown?

Presentation by Mr Hyun Song Shin, Economic Adviser and Head of Research of the BIS, at the "Public Finance Dialogue" workshop…

Hyun Song Shin

Speech 10 Apr 2019

Global imbalances and the international footprint of firms: what role for exchange rates?

Speech by Mr Hyun Song Shin, Economic Adviser and Head of Research of the BIS, at the Joint G20/IMF seminar on global…

Hyun Song Shin

Speech 22 Mar 2019

Emerging markets aren't out of the woods yet

Extract of an article by Mr Agustín Carstens, General Manager of the BIS, and Mr Hyun Song Shin, Economic Adviser and Head of…

Agustín Carstens

and

Hyun Song Shin

Speech 4 Mar 2019

BIS Quarterly Review, March 2019 - media briefing

The period under review started just the way the last one ended. In the second half of December, the risk-off phase persisted.

Claudio Borio

and

Hyun Song Shin

Speech 7 Feb 2019

Distributed ledger technology and large value payments: a global game approach

Lecture by Mr Hyun Song Shin, Economic Adviser and Head of Research of the BIS, University of Cambridge, 22 January 2019.

Hyun Song Shin

Fintech

Speech 15 Dec 2018

BIS Quarterly Review, December 2018 - media briefing

It was not the first, and it will not be the last. It was just another bump along the narrow path of monetary policy…

Claudio Borio

and

Hyun Song Shin

Speech 9 Nov 2018

Distributed ledger technology and large value payments: a global game approach

Presentation by Mr Hyun Song Shin, Economic Adviser and Head of Research of the BIS, at the conference on "Cryptocurrencies and…

Hyun Song Shin

Speech 22 Sep 2018

BIS Quarterly Review, September 2018 - media briefing

Claudio Borio

and

Hyun Song Shin

Speech 17 Sep 2018

Reflections on the Lehman collapse, 10 years later

Translation of an article by Hyun Song Shin, Economic Adviser and Head of Research of the BIS, in the Frankfurter Allgemeine…

Hyun Song Shin

All videos (103)

00:24:13

2026 Per Jacobsson Lecture: Panel discussion

Video 28 Jun 2026

2026 Per Jacobsson Lecture: Panel discussion

Panel discussion on the lecture delivered by Gita Gopinath (Gregory and Ania Coffey Professor of Economics, Harvard University)…

François Villeroy de Galhau

Gita Gopinath

Hyun Song Shin

Michele Bullock

and

Pablo Hernández de Cos

1:03:29

Post-GFC rewiring of the global financial system

Video 20 Feb 2026

Post-GFC rewiring of the global financial system

Hyun examines the broad rewiring of the global financial system since the Great Financial Crisis, focusing on two interrelated…

Hyun Song Shin

Money as a coordination device: some historical lessons

Video 27 Jan 2026

Money as a coordination device: some historical lessons

Hyun discusses the implications of structural changes in the evolution of the monetary system, emphasising the trade-offs…

Hyun Song Shin

00:06:03

Shifting currents in FX and interest rate derivatives

Video 8 Dec 2025

Shifting currents in FX and interest rate derivatives

The December BIS Quarterly Review is a special edition delving into the data collected from more than 1,000 banks in 52…

Goetz von Peter

Hyun Song Shin

and

Andreas Schrimpf

00:49:28

Media briefing on the BIS Quarterly Review, December 2025

Video 5 Dec 2025

Media briefing on the BIS Quarterly Review, December 2025

Hyun Song Shin summarises the December 2025 BIS Quarterly Review and, along with Gaston Gelos and Frank Smets, answers…

Frank Smets

Hyun Song Shin

and

Gaston Gelos

00:14:45

A fireside chat with Martin Moloney, Deputy Secretary General, Financial Stability Board

Video 6 Nov 2025

A fireside chat with Martin Moloney, Deputy Secretary General, Financial Stability Board

Jon Frost moderates a fireside chat with Martin Moloney, Deputy Secretary General, Financial Stability Board, on its latest…

Hyun Song Shin

Jon Frost

and

Martin Moloney

00:44:26

Media briefing on the BIS Quarterly Review, September 2025

Video 12 Sep 2025

Media briefing on the BIS Quarterly Review, September 2025

Hyun Song Shin summarises the September 2025 BIS Quarterly Review and, along with Gaston Gelos and Frank Smets, answers…

Frank Smets

Hyun Song Shin

and

Gaston Gelos

Securing the foundations for tomorrow in a changing global financial system

Video 29 Jun 2025

Securing the foundations for tomorrow in a changing global financial system

Speech by Mr Hyun Song Shin, Economic Adviser and Head of the Monetary and Economic Department, on the occasion of the Bank's…

Hyun Song Shin

01:06:14

BIS Media Briefing - Annual Economic Report 2025

Video 26 Jun 2025

BIS Media Briefing - Annual Economic Report 2025

Agustín Carstens, Andréa M Maechler and Hyun Song Shin brief the media on the main messages of the Annual Economic Report.

Hyun Song Shin

Agustín Carstens

and

Andréa M Maechler

All podcasts (40)

00:11:49

Podcast 8 Dec 2019

FX and OTC derivatives markets through the lens of the BIS Triennial Survey

Hyun Song Shin offers some key analytical insights on foreign exchange and OTC derivatives markets from the latest BIS…

Hyun Song Shin

0:00 0:00

00:39:56

Podcast 1 Jul 2019

Why a strong dollar causes most of the world major pain

Hyun Song Shin discusses why a weaker dollar amounts to looser financial conditions for much of the world and gives his outlook…

Hyun Song Shin

0:00 0:00

00:14:18

Podcast 30 Jun 2019

Big tech in finance

Hyun Song Shin discusses the entry of big tech companies into financial services and the new challenges this poses for…

Hyun Song Shin

0:00 0:00

00:22:25

Podcast 9 Aug 2018

Bitcoin's big problem

Hyun Song Shin discusses the technological flaws that will likely prevent Bitcoin from becoming a more commonly used currency.

Hyun Song Shin

0:00 0:00

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All BIS publications (77)

Elasticity of money in production networks, working capital, credit lines and financial conditions

BISTRO: a general purpose oracle for macroeconomic time series

Introducing BISTRO: a foundational model for unconditional and conditional forecasting of macroeconomic time series

Tokenomics and blockchain fragmentation

International footprint of global firms: residence and nationality perspectives on maritime shipments

Competing digital monies

Mapping the space of central bankers' ideas

An approach to anti-money laundering compliance for cryptoassets

Global portfolio investments and FX derivatives

All external publications (128)

Optimal betting odds against insider traders

A reconstruction of Jeffrey's notion of ratifiability in terms of counterfactual beliefs

All speeches (65)

What is behind the recent slowdown?

Global imbalances and the international footprint of firms: what role for exchange rates?

Emerging markets aren't out of the woods yet

BIS Quarterly Review, March 2019 - media briefing

Distributed ledger technology and large value payments: a global game approach

BIS Quarterly Review, December 2018 - media briefing

Distributed ledger technology and large value payments: a global game approach

BIS Quarterly Review, September 2018 - media briefing

Reflections on the Lehman collapse, 10 years later

All videos (103)

2026 Per Jacobsson Lecture: Panel discussion

Post-GFC rewiring of the global financial system

Money as a coordination device: some historical lessons

Shifting currents in FX and interest rate derivatives

Media briefing on the BIS Quarterly Review, December 2025

A fireside chat with Martin Moloney, Deputy Secretary General, Financial Stability Board

Media briefing on the BIS Quarterly Review, September 2025

Securing the foundations for tomorrow in a changing global financial system

BIS Media Briefing - Annual Economic Report 2025

All podcasts (40)

FX and OTC derivatives markets through the lens of the BIS Triennial Survey

Why a strong dollar causes most of the world major pain

Big tech in finance

Bitcoin's big problem

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