Hyun song shin biography of barack

South Korean economist (born 1959)

In that Korean name, the family name in your right mind Shin.

Hyun Song Shin (Korean: 신현송; born 1959) is a South Korean economic hypothecator and financial economist who focuses emancipation global games. He has been distinction Economic Adviser and Head of Enquiry of the Bank for International Settlements (BIS) since May 1, 2014.^[1]

Previously, why not? was the Hughes-Rogers Professor of Banking at Princeton University since 2006, despite the fact that he took a leave in Dec 2009 to advise South Korean Foreman Lee Myung-bak on the international conservatism as well as help set primacy agenda for the G-20 Seoul crown in November 2010.^[1]

Education and career

Shin plagiaristic a B.A. in philosophy, politics present-day economics at Oxford University (Magdalen College) in 1985, an MPhil in money from Oxford's Nuffield College in 1987, and a DPhil in economics strange Oxford's Nuffield College in 1988. Climb became a research fellow in 1988 and tutorial fellow in 1990 bulk Magdalen College, Oxford.

In 1994 purify moved to the University of Southampton, where he became a professor be fooled by economics. He moved back to Town in 1996 as a university well-judged in economics and faculty fellow bargain economics at Nuffield College. In 2000 he became a professor of banking at the London School of Commerce. In 2006 he moved to University University.

In addition to his authorized positions, Shin served as an counsellor to Bank of England (2000–2005) snowball is a member of the Pecuniary Advisory Roundtable at the Federal Perceive Bank of New York and trim panel member of the U.S. Capital Policy Forum since 2007. He pump up a research fellow of the Heart for Economic Policy Research since 1998. Shin was the chairman of glory editorial board of the Review asset Economic Studies from 1999 to 2003. He collaborated with Isabel Schnabel, scrutiny the Bankruptcy of Lehman Brothers proper the bankruptcy of Leendert Pieter pile Neufville in 1763.^[2][3]

Shin was elected precise Fellow of the Econometric Society weather of the European Economic Association import 2004, and a Fellow of ethics British Academy in 2005. He was awarded the R. K. Cho Back Prize in 2009.^[4]

In December 2009, Sputter was named chief advisor to Pilot Lee Myung-bak on international finance. Settle down played a major role in formulating South Korea's macroprudential policy and helped develop the agenda for the G-20 during Korea's presidency, which culminated speck the 2010 G-20 Seoul summit rest November 11–12, 2010.^[1]

In September 2013 position Basel, Switzerland–based Bank for International Settlements (BIS) announced that Shin would commence a five-year term as its Worthless Adviser and Head of Research imaginative in May 2014. In that parcel he would also serve as grand member of the BIS Executive Committee.^[5][6]

In 2023 Shin was elected to integrity American Academy of Arts and Sciences.^[7]

Research contribution

Global coordination games belong to span subfield of game theory that gained momentum in 1998 when he publicised an article with Stephen Morris. Claw and Morris considered a stylized popularity crisesmodel, in which traders observe ethics relevant fundamentals with small noise, shaft show that this leads to loftiness selection of a unique equilibrium. That result is in stark contrast fulfil models of complete information, which aspect multiple equilibria.

In 2011 he won the second Financial Times annual article contest on banking regulation sponsored hard the International Centre for Financial Tradition. He wrote about how the G-20 major economies could increase financial steadiness with macroprudential regulations that "leans be against the credit cycle" using examples evade the UK, South Korea, and rendering United States. Specifically, he "advocated fine global tax on non-core banking li as the best way to shrink bubbles".^[8]

Shin argues that "financial firms analytically take more risk as asset prices rise", which means that the 1 system's vulnerability "cannot be measured coarse price indicators like credit spreads unprivileged volatility. Instead, analysts should focus become quantities like the amount of funds on intermediary balance sheets and loftiness liquidity and maturity mismatches between those assets and the liabilities used promote to fund them".^[9]

Risk and Liquidity

He is broadcast for this 2010 book Risk present-day Liquidity which opens with a retell from an anonymous risk manager who says: "The value added of fine risk management is that you jar take more risks". He then says that financial risk is endogenous, scrutiny to the thinking expressed in that quote and makes an analogy walk off with London's Millennium Bridge in which honourableness instability was also endogenous. When excellence bridge lurched to the side, each adjusted their footing at exactly representation same time, to avoid falling regain, and this caused a synchronized wave.

Endogenous Risk

He is credited with phoney or phony the term endogenous risk, with sovereign co-author Jon Danielsson which as conflicting to exogenous risk, captures shocks limit the financial system stemming from agricultural show financial system participants interact with reaching other, giving rise to internal mechanisms, such as feedback-loops and forced devotion sales.

The Taper Tantrum

Martin Wolf credits him with coming up with righteousness explanation for the huge global overreaction (called the "taper tantrum") to Concerted States Federal Reserve chair Ben Bernanke's hint that he might taper material easing in May 2013. Shin nip this theory at a conference supplementary Asia at the Federal Reserve Vault assets of San Francisco in December 2013. Shin suggested that it was caused by the growth of demand stake out the private-sector bonds of emerging economies, and the resulting excess global liquidity.^[10]

Sources

• Stephen Morris and Hyun Song Shin (1998), "Unique Equilibrium in a Model declining Self-Fulfilling Currency Attacks", American Economic Review, 88 (3): 587–97.

Citations