Ilhyock Shim

Principal Economist

Monetary and Economic Department, Economics and Financial Markets for Asia and the Pacific

ilhyock.shim@bis.org

Ilhyock Shim is principal economist at the BIS Representative Office for Asia and the Pacific in Hong Kong SAR. His primary responsibility is to conduct research on financial regulation, financial markets and financial stability. Before he was assigned to the Representative Office in 2007, he worked for the BIS in Basel for three years as economist at the Financial Institutions and Infrastructure Unit of the Monetary and Economic Department. He began his career as deputy director in the Korean government in 1996. Between 1997 and 1999, he worked at the Ministry of Finance and Economy as deputy director in charge of deposit insurance and financial sector restructuring. From December 2009 to November 2010, he worked for the G20 Affairs Office of the Bank of Korea as adviser. He holds a bachelor's and a master's degree in Economics from Seoul National University, and a PhD in economics from Stanford University.

Fields of interest

Financial markets
Financial institutions and microprudential issues
Financial stability and macroprudential issues

Date	BIS research papers
Apr 2017	The beneficial aspect of FX volatility for market liquidity BIS Working Papers No 629 Other authors: Jakree Koosakul
Mar 2017	Foreword BIS Papers No 91
Mar 2017	Household credit in Asia-Pacific BIS Papers No 91 Other authors: Moritz Schularick
Jan 2017	Redemption risk and cash hoarding by asset managers BIS Working Papers No 608 Other authors: Stephen Morris and Hyun Song Shin
Jan 2017	The real effects of household debt in the short and long run BIS Working Papers No 607 Other authors: Marco Jacopo Lombardi and Madhusudan Mohanty
Sep 2016	Financial development and the effectiveness of macroprudential measures BIS Papers No 86 Other authors: Yusuf Soner Başkaya, Turalay Kenç and Philip Turner
Jan 2016	Sovereign yields and the risk-taking channel of currency appreciation BIS Working Papers No 538 Other authors: Boris Hofmann and Hyun Song Shin
Oct 2015	Effectiveness of macroprudential and capital flow measures in Asia and the Pacific BIS Papers No 82 Other authors: Valentina Bruno and Hyun Song Shin
Sep 2015	The rise of regional banking in Asia and the Pacific BIS Quarterly Review September 2015 Other authors: Eli M Remolona
Aug 2015	Investor redemptions and fund manager sales of emerging market bonds: how are they related? BIS Working Papers No 509 Other authors: Jimmy Shek and Hyun Song Shin

" Redemption risk and cash hoarding by asset managers" (with S Morris and H S Shin), Journal of Monetary Economics, vol 89, August 2017. Also published as BIS Working Papers, no 608.
" Comparative assessment of macroprudential policies" (with V Bruno and H S Shin), Journal of Financial Stability, vol 28, 2017, pp 183-202. Also published as BIS Working Papers, no 502.
" Can non-interest rate policies stabilize housing markets? Evidence from a panel of 57 economies" (with K Kuttner), Journal of Financial Stability, vol 26, October 2016, pp 31-44. Also published as BIS Working Papers, no 433.
" Correlations across Asia-Pacific bond markets and the impact of capital flow management measures" (with P Chantapacdepong), Pacific-Basin Finance Journal, vol 34, September 2015, pp 71-101. Also published as BIS Working Papers, no 472.
" Dislocations in the won-dollar swap markets during the crisis of 2007-2009" (with N Baba), International Journal of Finance and Economics, vol 19, issue 4, October 2014, pp 279-302. Also available as BIS Working Papers, no 344.
"Commercial banking in Asia", Routledge handbook of banking and finance in Asia, forthcoming.
" The impact of CDS trading on the bond market: Evidence from Asia" (with H Zhu), Journal of Banking and Finance, vol 40, March 2014, pp 460-75. Also published as BIS Working Papers, no 332.
" La politique macroprudentielle : un ouvrage en cours pour les banques centrales" (with J Caruana), Revue d'Économie Financière, no 121, 2016.
" Volatility contagion across the equity markets of developed and emerging market economies" (with M Hattori and Y Sugihara), Asian Development Bank Institute Working Papers, no 590, July 2016.
"Dislocations in the won-dollar swap markets during the crisis of 2007-09" (with N Baba), in K Chung, H Park, C Choi, S Kim and H S Shin (eds), Volatility in Korean capital markets: current policies and future responses, Palgrave Macmillan, 2014, Chapter 6.
"Deviation from covered interest parity in Asian foreign-exchange swap markets during the financial crisis of 2007-2009" (with I Lee and S Lee), in Asian Development Bank and Korea Capital Market Institute (eds), Asian capital market development and integration - challenges and opportunities, Oxford University Press, January 2014.
" Can non-interest rate policies stabilize housing markets? Evidence from a panel of 57 economies" (with K Kuttner), NBER Working Papers, no 19723, December 2013.
" Taming the real estate beast: the effects of monetary and macroprudential polices on housing prices and credit" (with K Kuttner), in proceedings of the RBA-BIS Conference on Property Markets and Financial Stability, Reserve Bank of Australia, December 2012.
" Dynamic prudential regulation: is prompt corrective action optimal?", Journal of Money, Credit and Banking, vol 43, no 8, December 2011. Also available as BIS Working Papers, no 206, May 2006.
" A model of the IMF as a coinsurance arrangement" (with R Chami and S Sharma), Economics e-journal, no 2008-14, May 2008.
" Forbearance and prompt corrective action" (with N Kocherlakota), Journal of Money, Credit and Banking, vol 39, no 5, August 2007. Also available as BIS Working Papers, no 177, May 2005.
" Distress selling and asset market feedback" (with G von Peter), Financial Markets, Institutions and Instruments, vol 16, no 5, December 2007. Also published as BIS Working Papers, no 229.
"What can (macro-)prudential policy do to support monetary policy?" (with C Borio), in proceedings of an International Symposium on Inflation Targeting in Emerging Market Countries organised by the Bank of Thailand in Bangkok, 13-14 November 2006. Also available as BIS Working Papers, no 242, December 2007.
Comments on "Procyclicality of buffer capital and its implications for Basel II: a cross country analysis" by H Kim and H Lee, in H Kim and H S Shin (eds), Adopting the new Basel Accord: impact and policy responses of Asian-Pacific developing countries, Korea Development Institute, Seoul, December 2006.
" A model of the IMF as a coinsurance arrangement" (with R Chami and S Sharma), IMF Working Papers, no WP/04/219, 2004.