17 Facts About Hyun-Song Shin

Hyun Song Shin is a South Korean economic theorist and financial economist who focuses on global games.

Hyun-Song Shin has been the Economic Adviser and Head of Research of the Bank for International Settlements since May 1,2014.

Hyun-Song Shin became a research fellow in 1988 and tutorial fellow in 1990 at Magdalen College, Oxford.

Hyun-Song Shin moved back to Oxford in 1996 as a university lecturer in economics and faculty fellow in economics at Nuffield College.

Hyun-Song Shin is a research fellow of the Centre for Economic Policy Research since 1998.

Hyun-Song Shin was the chairman of the editorial board of the Review of Economic Studies from 1999 to 2003.

Hyun-Song Shin collaborated with Isabel Schnabel, comparing the Bankruptcy of Lehman Brothers with the bankruptcy of Leendert Pieter de Neufville in 1763.

Hyun-Song Shin was elected a Fellow of the Econometric Society and of the European Economic Association in 2004, and a Fellow of the British Academy in 2005.

Hyun-Song Shin was awarded the R K Cho Economics Prize in 2009.

In December 2009, Hyun-Song Shin was named chief advisor to President Lee Myung-bak on international finance.

In 2023 Hyun-Song Shin was elected to the American Academy of Arts and Sciences.

Hyun-Song Shin wrote about how the G-20 major economies could increase financial stability with macroprudential regulations that "leans against the credit cycle" using examples from the UK, South Korea, and the United States.

Hyun-Song Shin is known for this 2010 book Risk and Liquidity which opens with a quote from an anonymous risk manager who says: "The value added of good risk management is that you can take more risks".

Hyun-Song Shin then says that financial risk is endogenous, due to the thinking expressed in this quote and makes an analogy with London's Millennium Bridge in which the instability was endogenous.

Hyun-Song Shin is credited with coining the term endogenous risk, with his co-author Jon Danielsson which as opposed to exogenous risk, captures shocks to the financial system stemming from how financial system participants interact with each other, giving rise to internal mechanisms, such as feedback-loops and forced fire sales.

Hyun-Song Shin presented this theory at a conference on Asia at the Federal Reserve Bank of San Francisco in December 2013.

Hyun-Song Shin suggested that it was caused by the growth of demand for the private-sector bonds of emerging economies, and the resulting excess global liquidity.