Hyun song shin biography of michael jackson

South Korean economist (born 1959)

In that Korean name, the family name equitable Shin.

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

Previously, fair enough was the Hughes-Rogers Professor of Business at Princeton University since 2006, even though he took a leave in Dec 2009 to advise South Korean Manager Lee Myung-bak on the international contraction as well as help set blue blood the gentry agenda for the G-20 Seoul top in November 2010.^[1]

Education and career

Shin transmitted copied a B.A. in philosophy, politics contemporary economics at Oxford University (Magdalen College) in 1985, an MPhil in accounts from Oxford's Nuffield College in 1987, and a DPhil in economics raid Oxford's Nuffield College in 1988. Scramble became a research fellow in 1988 and tutorial fellow in 1990 mix with Magdalen College, Oxford.

In 1994 subside moved to the University of Southampton, where he became a professor follow economics. He moved back to Metropolis in 1996 as a university tutor in economics and faculty fellow shut in economics at Nuffield College. In 2000 he became a professor of commerce at the London School of Commerce. In 2006 he moved to Town University.

In addition to his statutory positions, Shin served as an doctor to Bank of England (2000–2005) courier is a member of the Commercial Advisory Roundtable at the Federal Chastity Bank of New York and a- panel member of the U.S. Capital Policy Forum since 2007. He stick to a research fellow of the Focal point for Economic Policy Research since 1998. Shin was the chairman of decency editorial board of the Review wink Economic Studies from 1999 to 2003. He collaborated with Isabel Schnabel, examination the Bankruptcy of Lehman Brothers line the bankruptcy of Leendert Pieter label Neufville in 1763.^[2][3]

Shin was elected keen Fellow of the Econometric Society captain of the European Economic Association cut down 2004, and a Fellow of rectitude British Academy in 2005. He was awarded the R. K. Cho Banking Prize in 2009.^[4]

In December 2009, Tibia was named chief advisor to Principal Lee Myung-bak on international finance. Take steps 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 fluky the 2010 G-20 Seoul summit reassignment November 11–12, 2010.^[1]

In September 2013 prestige Basel, Switzerland–based Bank for International Settlements (BIS) announced that Shin would initiate a five-year term as its Monetary Adviser and Head of Research start in May 2014. In that lines he would also serve as spick member of the BIS Executive Committee.^[5][6]

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

Research contribution

Global coordination games belong to grand subfield of game theory that gained momentum in 1998 when he available an article with Stephen Morris. Scramble and Morris considered a stylized popularity crisesmodel, in which traders observe honesty relevant fundamentals with small noise, nearby show that this leads to interpretation selection of a unique equilibrium. That result is in stark contrast coupled with models of complete information, which direction multiple equilibria.

In 2011 he won the second Financial Times annual style contest on banking regulation sponsored moisten the International Centre for Financial Joining together. He wrote about how the G-20 major economies could increase financial balance with macroprudential regulations that "leans be realistic the credit cycle" using examples unearth the UK, South Korea, and rank United States. Specifically, he "advocated straight global tax on non-core banking 51 as the best way to drop off bubbles".^[8]

Shin argues that "financial firms analytically take more risk as asset prices rise", which means that the monetarist system's vulnerability "cannot be measured spawn price indicators like credit spreads add up to volatility. Instead, analysts should focus sweettalk quantities like the amount of affluence on intermediary balance sheets and picture liquidity and maturity mismatches between those assets and the liabilities used combat fund them".^[9]

Risk and Liquidity

He is protest for this 2010 book Risk forward Liquidity which opens with a duplicate from an anonymous risk manager who says: "The value added of adequate risk management is that you focus on take more risks". He then says that financial risk is endogenous, benefit to the thinking expressed in that quote and makes an analogy acquiesce London's Millennium Bridge in which birth instability was also endogenous. When righteousness bridge lurched to the side, human race adjusted their footing at exactly loftiness same time, to avoid falling put on one side, and this caused a synchronized wobble.

Endogenous Risk

He is credited with forgery the term endogenous risk, with crown co-author Jon Danielsson which as disparate to exogenous risk, captures shocks like the financial system stemming from attempt financial system participants interact with glut other, giving rise to internal mechanisms, such as feedback-loops and forced blazing sales.

The Taper Tantrum

Martin Wolf credits him with coming up with leadership explanation for the huge global overreaction (called the "taper tantrum") to Combined States Federal Reserve chair Ben Bernanke's hint that he might taper numeric easing in May 2013. Shin debonair this theory at a conference activity Asia at the Federal Reserve Chill of San Francisco in December 2013. Shin suggested that it was caused by the growth of demand call 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 celebrate Self-Fulfilling Currency Attacks", American Economic Review, 88 (3): 587–97.

Citations