Working
Papers of Hyun Song Shin
Discussion of “The
Leverage Cycle” by John Geanakoplos (link to
discussion) discussion at the 2009 NBER Macro Annual Conference
Financial Intermediation
and the Post-Crisis Financial System (link to paper)
(presentation
slides) paper presented at the 8th BIS Annual Conference, June
2009
A Financial System
Perspective on Japan’s Experience in the Late 1980s (with Masazumi Hattori
and Wataru Takahashi) (link
to paper on BOJ site) paper presented at the 16th Bank of Japan International
Conference, May 2009
Contagious Adverse
Selection (with Stephen Morris)
(paper)
Illiquidity Component
of Credit Risk (with Stephen Morris)
(paper)
Risk Appetite and
Endogenous Risk (with Jon
Danielsson and Jean-Pierre
Zigrand) (pdf
file of paper)(presentation
slides) (VoxEU page)
Risk Appetite and
Exchange Rates (with Tobias
Adrian and Erkko
Etula) (pdf
file of paper)
Geneva Report on the
World Economy 11: The Fundamental
Principles of Financial Regulation (with Markus Brunnermeier Andrew Crockett Charles Goodhart and Avinash Persaud) (link to paper) (VoxEU page)
A Theory of Slow Moving
Capital and Contagion (with Viral Acharya
and Tanju
Yorulmazer) (link
to paper)
Money, Liquidity and
Monetary Policy (with Tobias
Adrian)(pdf
file of paper) paper for the 2009 San Francisco meeting of the American
Economic Association, forthcoming in American Economic Review Papers and
Proceedings.
Systemic Risk and
Liquidity in Payment Systems (with Gara
Afonso) (October 2008 version) (link to
paper)(video
of first simulation) (video
of second simulation) (video
of third simulation)(slides)
Fire Sale FDI (with Viral Acharya
and Tanju
Yorulmazer) (September 2008 version) (link to paper) (slides)
Financial Intermediary
Leverage and Value at Risk (with Tobias
Adrian)(pdf file of
paper)
Liquidity and Leverage (with Tobias
Adrian) (May 2008
version of paper) paper presented at the BIS Annual conference, June 2007
(with link to first version of paper) (some
press comment) forthcoming in the Journal of Financial Intermediation
Yen Carry Trade and the
Subprime Crisis (with Masazumi Hattori) (pdf file
of paper) forthcoming in IMF Staff Papers
Carry Trades and
Speculative Dynamics (with Guillaume
Plantin) (February 2008 version) (paper) (slides)
Common Belief
Foundations of Global Games (with Stephen
Morris) (paper)
Fire Sales, Foreign
Entry and Bank Liquidity (with Viral
Acharya and Tanju
Yorulmazer) (pdf
file)
Industrial Structure
and Corporate Finance (with Se-Jik Kim) (pdf file) (slides)
Do Derivatives
Disclosures Impede Sound Risk Management? (with Haresh
Sapra) (link to
paper)
Endogenous Public
Signals and Coordination (with Stephen
Morris) (pdf
file)
Positive Feedback
Trading under Stress: Evidence from the
US Treasury Securities Market (with Benjamin Cohen) (paper) (slides)
Measuring Strategic
Uncertainty (with Stephen Morris)
(pdf file of paper)