Hyun Song Shin

Hyun Song Shin is Economic Adviser and Head of Research at the Bank for International Settlements, having previously been a professor at Princeton. His research on "leverage spirals" — showing how bank deleveraging during stress amplifies financial instability — became highly influential in post-crisis regulatory design. His work on global liquidity, the dollar's role in cross-border credit, and the procyclical nature of bank balance sheets has shaped macroprudential policy at central banks. Shin bridges financial economics with policy-relevant insights at the BIS. His framework distinguishing "private credit" liquidity from "public" central bank liquidity has given policymakers tools to identify when global financial conditions are tightening in ways that traditional monetary aggregates miss, making his research especially valuable for central banks and financial stability committees monitoring cross-border capital flow dynamics and dollar funding stress.