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 Oct 2019

Currency depreciation and emerging market corporate distress

Hyun Song Shin

and

Valentina Bruno

External publication 1 Oct 2019

BigTech and the changing structure of financial intermediation

Hyun Song Shin

Leonardo Gambacorta

Jon Frost

and

Pablo Zbinden

External publication 1 Sep 2019

The dollar, bank leverage, and the deviation from covered interest parity

Hyun Song Shin

Stefan Avdjiev

Cathérine Tahmee Koch

and

Wenxin Du

External publication 1 Feb 2019

The dollar exchange rate as a global risk factor: evidence from investment

Hyun Song Shin

Stefan Avdjiev

Valentina Bruno

and

Cathérine Tahmee Koch

External publication 1 Nov 2018

Liquidity, leverage, and regulation 10 years after the global financial crisis

Hyun Song Shin

John Kiff

and

Tobias Adrian

External publication 1 Jul 2018

Why bank capital matters for monetary policy

Hyun Song Shin

and

Leonardo Gambacorta

External publication 1 May 2018

Central bank forward guidance and the signal value of market prices

Hyun Song Shin

and

Stephen Morris

External publication 1 May 2018

Exchange rates and monetary spillovers

Hyun Song Shin

and

Guillaume Plantin

External publication 1 May 2018

Exchange rates and the working capital channel of trade fluctuations

Hyun Song Shin

Valentina Bruno

and

Se-Jik Kim

All speeches (65)

Speech 5 Mar 2016

BIS Quarterly Review, March 2016 - media briefing

Claudio Borio

and

Hyun Song Shin

Speech 6 Jan 2016

and

Hyun Song Shin

Speech 13 Nov 2015

External dimension of monetary policy

Remarks by Mr Hyun Song Shin, Economic Adviser and Head of Research of the BIS, at the Board of Governors of the Federal…

Hyun Song Shin

Speech 28 Jun 2015

Three BIS research themes in the Annual Report

Presentation by Mr Hyun Song Shin, Economic Adviser and Head of Research - Basel, 28 June 2015.

Hyun Song Shin

Speech 15 Apr 2015

Macroprudential tools, their limits and their connection with monetary policy

Panel remarks by Mr Hyun Song Shin, Economic Adviser and Head of Research of the BIS, at IMF Spring Meeting event: "Rethinking…

Hyun Song Shin

Speech 25 Feb 2015

Toward a joined-up research agenda for central banks

Presentation by Mr Hyun Song Shin, Economic Adviser and Head of Research of the BIS, at the Bank of England "One Bank Research…

Hyun Song Shin

Speech 18 Feb 2015

On book equity: why it matters for monetary policy

Keynote address by Mr Hyun Song Shin, Economic Adviser and Head of Research of the BIS, at the joint workshop by the Basel…

Hyun Song Shin

All videos (103)

01:20:29

Session 1: Big techs in financial services - setting the scene

Video 8 Feb 2023

Session 1: Big techs in financial services - setting the scene

The panel discussion looks at recent developments in big techs in finance, opportunities for innovation and financial inclusion…

Hyun Song Shin

Jon Cunliffe

Gillian Tett

Otávio Damaso

and

Wei Xong

00:26:50

Outlook for the global economy and international trade

Video 1 Feb 2023

Outlook for the global economy and international trade

Hyun Song Shin discusses global trade patterns as the context for the sharp downturn in Korean goods exports and shows the…

Hyun Song Shin

01:16:35

Panel on central bank independence and the development of payments and central bank digital currencies

Video 10 Jan 2023

Panel on central bank independence and the development of payments and central bank digital currencies

Hyun Song Shin

Tobias Adrian

Ravi Menon

Cecilia Skingsley

and

Gary Gorton

00:55:57

Hyun Song Shin - Digital Currencies

Video 7 Dec 2022

Hyun Song Shin - Digital Currencies

At an economics roundtable hosted by the University of California at San Diego, Hyun Song Shin discusses central bank digital…

Hyun Song Shin

00:48:30

BIS Quarterly Review, December 2022 - media briefing

Video 2 Dec 2022

BIS Quarterly Review, December 2022 - media briefing

Claudio Borio and Hyun Song Shin brief the media on the key takeaways of the BIS December 2022 Quarterly Review and answer…

Claudio Borio

and

Hyun Song Shin

5:19:25

Building a crypto ecosystem: the necessary pieces

Video 11 Oct 2022

Building a crypto ecosystem: the necessary pieces

FTX founder Sam Bankman-Fried chats with CNBC's Kate Rooney at DC Fintech Week.

Hyun Song Shin

00:31:54

BIS Quarterly Review, September 2022 - media briefing

Video 16 Sep 2022

BIS Quarterly Review, September 2022 - media briefing

Claudio Borio and Hyun Song Shin brief the media on the key takeaways of the BIS September 2022 Quarterly Review.

Claudio Borio

and

Hyun Song Shin

03:41:31

Monetary and Financial Sector Policy to Support Stability and Recovery

Video 17 Jul 2022

Monetary and Financial Sector Policy to Support Stability and Recovery

Hyun Song Shin spoke about the prospects of a hard or soft landing for the global economy.

Hyun Song Shin

and

Ceyla Pazarbasioglu

01:19:02

After the crypto crash: the future role of CBDC

Video 30 Jun 2022

After the crypto crash: the future role of CBDC

The future role of CBDC with Hyun Shin.

Hyun Song Shin

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)

Currency depreciation and emerging market corporate distress

BigTech and the changing structure of financial intermediation

The dollar, bank leverage, and the deviation from covered interest parity

The dollar exchange rate as a global risk factor: evidence from investment

Liquidity, leverage, and regulation 10 years after the global financial crisis

Why bank capital matters for monetary policy

Central bank forward guidance and the signal value of market prices

Exchange rates and monetary spillovers

Exchange rates and the working capital channel of trade fluctuations

All speeches (65)

BIS Quarterly Review, March 2016 - media briefing

Where's the inflation, Mr Shin?

Exchange rates and the transmission of global liquidity

BIS Quarterly Review, December 2015 - media briefing

External dimension of monetary policy

Three BIS research themes in the Annual Report

Macroprudential tools, their limits and their connection with monetary policy

Toward a joined-up research agenda for central banks

On book equity: why it matters for monetary policy

All videos (103)

Session 1: Big techs in financial services - setting the scene

Outlook for the global economy and international trade

Panel on central bank independence and the development of payments and central bank digital currencies

Hyun Song Shin - Digital Currencies

BIS Quarterly Review, December 2022 - media briefing

Building a crypto ecosystem: the necessary pieces

BIS Quarterly Review, September 2022 - media briefing

Monetary and Financial Sector Policy to Support Stability and Recovery

After the crypto crash: the future role of CBDC

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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