Hyun Song Shin

BIS Working Paper No 692 23 Jan 2018

Central bank forward guidance and the signal value of market prices

The paper examines the relationship between monetary policy and market prices through the lens of central bank communication…

and

BIS Working Paper No 608 30 Jan 2017

Redemption risk and cash hoarding by asset managers

Household debt levels relative to GDP have risen rapidly in many countries over the past decade. We investigate the…

and

BIS Working Paper No 592 15 Nov 2016

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

We document the triangular relationship formed by the strength of the US dollar, cross-border bank lending in dollars and…

Stefan Avdjiev

Wenxin Du

Catherine Casanova

and

BIS Working Paper No 580 13 Sep 2016

Bank capital and dividend externalities

Dividend payouts affect the relative value of claims within a firm. When firms have contingent claims on each other, as in the…

Viral V Acharya

Hanh T Le

and

BIS Working Paper No 558 7 Apr 2016

Why bank capital matters for monetary policy

One aim of post-crisis monetary policy has been to ease credit conditions for borrowers by unlocking bank lending. We find that…

Leonardo Gambacorta

and

BIS Working Paper No 538 18 Jan 2016

Sovereign yields and the risk-taking channel of currency appreciation

Currency appreciation goes hand in hand with easier financial conditions and compressed sovereign bond spreads, even for local…

Boris Hofmann

and

BIS Working Paper No 537 18 Jan 2016

Exchange rates and monetary spillovers

When does the combination of flexible exchange rates and domestic inflation-oriented monetary policy guarantee insulation from…

Guillaume Plantin

and

BIS Working Paper No 524 20 Oct 2015

Breaking free of the triple coincidence in international finance

The traditional approach to international finance is to view capital flows as the financial counterpart to savings and…

Stefan Avdjiev

Robert N McCauley

and

External publication 1 Feb 2018

All external publications (128)

Risk-taking channel of monetary policy

External publication 1 Feb 2018

and

Tobias Adrian

Investor redemptions and fund manager sales of emerging market bonds: how are they related?

External publication 1 Aug 2017

and

Jimmy Shek

Global liquidity: a selective review

Ingo Fender

Benjamin H Cohen

External publication 1 Aug 2017

and

Dietrich Domanski

Redemption risk and cash hoarding by asset managers

and

External publication 1 Mar 2017

The hunt for duration: not waving but drowning?

External publication 1 Mar 2017

Dietrich Domanski

and

Vladyslav Sushko

Global dollar credit and carry trades: a firm-level analysis

External publication 1 Mar 2017

and

Valentina Bruno

Bank capital and dividend externalities

Viral V Acharya

External publication 1 Feb 2017

and

Hanh T Le

Comparative assessment of macroprudential policies

External publication 1 Nov 2016

and

Valentina Bruno

Illiquidity component of credit risk - the 2015 Lawrence R Klein lecture

and

Central banks and payments in the digital era

All videos (103)

00:02:07

Video 24 Jun 2020

Central banks and payments in the digital era

Hyun Song Shin discusses how central banks must keep evolving to meet the challenge of rapidly accelerating digital innovation,…

Central banks and payments in the digital era: media briefing on Chapter III of the Annual Economic Report 2020

01:04:59

Video 23 Jun 2020

Central banks and payments in the digital era: media briefing on Chapter III of the Annual Economic Report 2020

Shin and Cœuré brief the media on the main messages of the special chapter of the Annual Economic Report.

Capital flows and "original sin redux"

and

Benoît Coeuré

01:05:34

Video 1 Mar 2020

Capital flows and "original sin redux"

Hyun Song Shin explains why borrowing in local currency has not made emerging markets immune to a pandemic-induced financial…

2020 AFA panel session: Fintech, financial stability and regulation

01:48:57

Video 3 Jan 2020

2020 AFA panel session: Fintech, financial stability and regulation

Examines issues surrounding the rise of fintechs, including the effects on financial stability, competition and financial…

Big tech in finance: opportunities and risks

00:02:24

Video 30 Jun 2019

Big tech in finance: opportunities and risks

Hyun Song Shin discusses big tech and finance, Facebook's Libra announcement and associated topics.

Big tech in finance: opportunities and risks

00:22:55

Video 30 Jun 2019

Big tech in finance: opportunities and risks

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

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

01:12:04

Video 10 Apr 2019

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

The accounting basis for macroeconomics is looking increasingly creaky in an age of global firms and global value chains. Key…

We are living in a world with interconnected balance sheets, says BIS's Shin

00:10:03

Video 12 Nov 2018

We are living in a world with interconnected balance sheets, says BIS's Shin

Hyun Song Shin (Economic Adviser and Head of Research) speaks to Bloomberg about emerging market economies 20 years after the…

Cryptocurrencies and the economics of money

00:18:46

Video 24 Jun 2018

Cryptocurrencies and the economics of money

Hyun Song Shin explains why, despite all the hype, cryptocurrencies are a far cry from money.

All podcasts (40)

00:59:03

Podcast 23 Jun 2025

BIS media briefing - The next-generation monetary and financial system

Hyun Song Shin and Andréa M Maechler brief the media on the main messages of Chapter III of the Annual Economic Report 2025.

and

Andréa M Maechler

0:00 0:00

00:35:29

Podcast 10 Mar 2025

Media briefing on the BIS Quarterly Review, March 2025

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

Frank Smets

and

Gaston Gelos

0:00 0:00

00:46:22

Podcast 9 Dec 2024

Media briefing on the BIS Quarterly Review, December 2024

Claudio Borio and Hyun Song Shin summarise the December 2024 Quarterly Review and answer journalists' questions about financial…

and

0:00 0:00

00:32:03

Podcast 16 Sep 2024

Media briefing on the BIS Quarterly Review, September 2024

Claudio Borio and Hyun Song Shin summarise the September 2024 Quarterly Review and answer journalists' questions about…

and

0:00 0:00

00:38:24

Podcast 29 Aug 2024

How big the Yen carry trade really is

Interview with Hyun Song Shin, Economic Adviser and Head of the Monetary and Economic Department. He walks us through the…

0:00 0:00

00:21:19

Podcast 25 Jun 2024

AI and the economy: implications for central banks

Hyun Song Shin discusses the benefits and challenges for central banks of the latest artificial intelligence technology.

0:00 0:00

00:33:20

Podcast 3 Apr 2024

Media briefing on the launch of Project Agorá

Cecilia Skingsley and Hyun Song Shin explain the BIS's new project to test the tokenization of commercial and central bank…

and

Cecilia Skingsley

0:00 0:00

00:32:21

Podcast 4 Mar 2024

Media briefing on the BIS Quarterly Review, March 2024

Claudio Borio and Hyun Song Shin summarise the March 2024 Quarterly Review and answer journalists' questions about financial…

and

0:00 0:00

00:37:10

Podcast 4 Dec 2023

Media briefing on the BIS Quarterly Review, December 2023

Claudio Borio and Hyun Song Shin summarise the December 2023 Quarterly Review and answer journalists' questions about financial…

and