Details about Ilhyock Shim

Homepage:	http://www.bis.org/author/ilhyock_shim.htm
Postal address:	Bank for International Settlements Ruben Dario 281, Polanco, Mexico City 11580 Mexico
Workplace:	Bank for International Settlements (BIS), (more information at EDIRC)

Access statistics for papers by Ilhyock Shim.

Last updated 2025-02-13. Update your information in the RePEc Author Service.

Short-id: psh722

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Working Papers

2025

1. Macroeconomic impact of extreme weather events
   BIS Bulletins, Bank for International Settlements

2024

2. Financial development and the effectiveness of macroprudential and capital flow management measures
   BIS Working Papers, Bank for International Settlements

2023

3. Absolute blockchain strength? Evidence from the ABS market in China
   BIS Working Papers, Bank for International Settlements
4. Lessons from recent experiences on exchange rates, capital flows and financial conditions in EMEs
   BIS Bulletins, Bank for International Settlements

2022

5. Dollar beta and stock returns
   BIS Working Papers, Bank for International Settlements View citations (8)
   See also Journal Article Dollar beta and stock returns, Oxford Open Economics, Oxford University Press (2022) View citations (6) (2022)
6. Macro-financial stability frameworks: experience and challenges
   BIS Working Papers, Bank for International Settlements View citations (4)
   See also Chapter Macro-Financial Stability Frameworks: Experience and Challenges, World Scientific Book Chapters, World Scientific Publishing Co. Pte. Ltd. (2023) View citations (2) (2023)
7. Risk capacity, portfolio choice and exchange rates
   BIS Working Papers, Bank for International Settlements View citations (4)
8. Shadow loans and regulatory arbitrage: evidence from China
   BIS Working Papers, Bank for International Settlements
   See also Journal Article Shadow loans and regulatory arbitrage: Evidence from China, Journal of Banking & Finance, Elsevier (2024) View citations (3) (2024)

2021

9. Exchange Rate Fluctuations and Firm Leverage
   CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (10)
   Also in IMF Working Papers, International Monetary Fund (2020) View citations (2)
   NBER Working Papers, National Bureau of Economic Research, Inc (2021) View citations (9)
   See also Journal Article Exchange Rate Fluctuations and Firm Leverage, IMF Economic Review, Palgrave Macmillan (2021) View citations (9) (2021)
10. Liquidity management and asset sales by bond funds in the face of investor redemptions in March 2020
    BIS Bulletins, Bank for International Settlements

2020

11. EME bond portfolio flows and long-term interest rates during the Covid-19 pandemic
    BIS Bulletins, Bank for International Settlements View citations (25)
12. Emerging market economy exchange rates and local currency bond markets amid the Covid-19 pandemic
    BIS Bulletins, Bank for International Settlements View citations (49)

2019

13. Bond risk premia and the exchange rate
    BIS Working Papers, Bank for International Settlements View citations (21)
    See also Journal Article Bond Risk Premia and The Exchange Rate, Journal of Money, Credit and Banking, Blackwell Publishing (2020) View citations (29) (2020)

2018

14. Cross-stock market spillovers through variance risk premiums and equity flows
    CIS Discussion paper series, Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University View citations (1)
    Also in BIS Working Papers, Bank for International Settlements (2018) View citations (1)
    See also Journal Article Cross-stock market spillovers through variance risk premiums and equity flows, Journal of International Money and Finance, Elsevier (2021) View citations (7) (2021)
15. Exchange rate appreciations and corporate risk taking
    BIS Working Papers, Bank for International Settlements View citations (15)
16. Financial stress in lender countries and capital outflows from emerging market economies
    BIS Working Papers, Bank for International Settlements View citations (5)
    See also Journal Article Financial stress in lender countries and capital outflows from emerging market economies, Journal of International Money and Finance, Elsevier (2021) View citations (12) (2021)
17. The Costs of Macroprudential Policy
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (15)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2018) View citations (15)
    See also Journal Article The costs of macroprudential policy, Journal of International Economics, Elsevier (2019) View citations (111) (2019)
    Chapter The Costs of Macroprudential Policy, NBER Chapters, National Bureau of Economic Research, Inc (2018) View citations (15) (2018)
18. The macroeconomic effects of macroprudential policy
    BIS Working Papers, Bank for International Settlements View citations (24)

2017

19. Redemption risk and cash hoarding by asset managers
    BIS Working Papers, Bank for International Settlements View citations (80)
    See also Journal Article Redemption risk and cash hoarding by asset managers, Journal of Monetary Economics, Elsevier (2017) View citations (73) (2017)
20. The beneficial aspect of FX volatility for market liquidity
    BIS Working Papers, Bank for International Settlements
21. The real effects of household debt in the short and long run
    BIS Working Papers, Bank for International Settlements View citations (71)

2016

22. Sovereign yields and the risk-taking channel of currency appreciation
    BIS Working Papers, Bank for International Settlements View citations (76)
23. Volatility Contagion across the Equity Markets of Developed and Emerging Market Economies
    ADBI Working Papers, Asian Development Bank Institute View citations (2)

2015

24. Comparative assessment of macroprudential policies
    BIS Working Papers, Bank for International Settlements View citations (58)
    See also Journal Article Comparative assessment of macroprudential policies, Journal of Financial Stability, Elsevier (2017) View citations (166) (2017)
25. Investor redemptions and fund manager sales of emerging market bonds: how are they related?
    BIS Working Papers, Bank for International Settlements View citations (41)
    See also Journal Article Investor Redemptions and Fund Manager Sales of Emerging Market Bonds: How Are They Related?*, Review of Finance, European Finance Association (2018) View citations (10) (2018)

2014

26. Correlations across Asia-Pacific bond markets and the impact of capital flow measures
    BIS Working Papers, Bank for International Settlements View citations (14)

2013

27. Can Non-Interest Rate Policies Stabilize Housing Markets? Evidence from a Panel of 57 Economies
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (129)
    Also in BIS Working Papers, Bank for International Settlements (2013) View citations (137)
    See also Journal Article Can non-interest rate policies stabilize housing markets? Evidence from a panel of 57 economies, Journal of Financial Stability, Elsevier (2016) View citations (207) (2016)

2011

28. Dislocations in the won-dollar swap markets during the crisis of 2007-09
    BIS Working Papers, Bank for International Settlements View citations (7)

2010

29. The impact of CDS trading on the bond market: evidence from Asia
    BIS Working Papers, Bank for International Settlements View citations (5)
    See also Journal Article The impact of CDS trading on the bond market: Evidence from Asia, Journal of Banking & Finance, Elsevier (2014) View citations (10) (2014)

2007

30. A Model of the IMF as a Coinsurance Arrangement
    Economics Discussion Papers, Kiel Institute for the World Economy (IfW Kiel)
    Also in BIS Working Papers, Bank for International Settlements (2005)
    IMF Working Papers, International Monetary Fund (2004) View citations (10)
    See also Journal Article A Model of the IMF as a Coinsurance Arrangement, Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel) (2008) View citations (4) (2008)
31. Distress selling and asset market feedback
    BIS Working Papers, Bank for International Settlements View citations (16)
    See also Journal Article Distress Selling and Asset Market Feedback, Financial Markets, Institutions & Instruments, John Wiley & Sons (2007) (2007)
32. What can (macro-)prudential policy do to support monetary policy?
    BIS Working Papers, Bank for International Settlements View citations (165)

2006

33. Dynamic prudential regulation: Is prompt corrective action optimal?
    BIS Working Papers, Bank for International Settlements View citations (12)
    See also Journal Article Dynamic Prudential Regulation: Is Prompt Corrective Action Optimal?, Journal of Money, Credit and Banking, Blackwell Publishing (2011) View citations (16) (2011)

2005

34. Forbearance and Prompt Corrective Action
    2005 Meeting Papers, Society for Economic Dynamics View citations (5)
    Also in BIS Working Papers, Bank for International Settlements (2005) View citations (3)
    Levine's Bibliography, UCLA Department of Economics (2005) View citations (3)
    Levine's Bibliography, UCLA Department of Economics (2005) View citations (6)
    See also Journal Article Forbearance and Prompt Corrective Action, Journal of Money, Credit and Banking, Blackwell Publishing (2007) View citations (6) (2007)

Journal Articles

2024

1. Shadow loans and regulatory arbitrage: Evidence from China
   Journal of Banking & Finance, 2024, 160, (C) View citations (3)
   See also Working Paper Shadow loans and regulatory arbitrage: evidence from China, BIS Working Papers (2022) (2022)
2. The US dollar and capital flows to EMEs
   BIS Quarterly Review, 2024

2023

3. Prudential policy and financial dominance: exploring the link
   BIS Quarterly Review, 2023 View citations (6)

2022

4. Correction to: The relationship of household debt and growth in the short and long run
   Empirical Economics, 2022, 63, (4), 1913-1913
5. Dollar beta and stock returns
   Oxford Open Economics, 2022, 1, 1-10 View citations (6)
   See also Working Paper Dollar beta and stock returns, BIS Working Papers (2022) View citations (8) (2022)
6. The relationship of household debt and growth in the short and long run
   Empirical Economics, 2022, 63, (4), 1887-1911

2021

7. Cross-stock market spillovers through variance risk premiums and equity flows
   Journal of International Money and Finance, 2021, 119, (C) View citations (7)
   See also Working Paper Cross-stock market spillovers through variance risk premiums and equity flows, CIS Discussion paper series (2018) View citations (1) (2018)
8. Exchange Rate Fluctuations and Firm Leverage
   IMF Economic Review, 2021, 69, (1), 90-121 View citations (9)
   See also Working Paper Exchange Rate Fluctuations and Firm Leverage, CEPR Discussion Papers (2021) View citations (10) (2021)
9. Financial stress in lender countries and capital outflows from emerging market economies
   Journal of International Money and Finance, 2021, 113, (C) View citations (12)
   See also Working Paper Financial stress in lender countries and capital outflows from emerging market economies, BIS Working Papers (2018) View citations (5) (2018)
10. Outward portfolio investment and dollar funding in emerging Asia
    BIS Quarterly Review, 2021 View citations (7)
11. The effects of asset price volatility on market participation: Evidence from the Thai foreign exchange market
    Journal of Banking & Finance, 2021, 124, (C) View citations (6)

2020

12. Bond Risk Premia and The Exchange Rate
    Journal of Money, Credit and Banking, 2020, 52, (S2), 497-520 View citations (29)
    See also Working Paper Bond risk premia and the exchange rate, BIS Working Papers (2019) View citations (21) (2019)
13. Cross-border commercial real estate investment in Asia-Pacific
    BIS Quarterly Review, 2020 View citations (2)

2019

14. The costs of macroprudential policy
    Journal of International Economics, 2019, 118, (C), 263-282 View citations (111)
    See also Working Paper The Costs of Macroprudential Policy, CEPR Discussion Papers (2018) View citations (15) (2018)
    Chapter The Costs of Macroprudential Policy, NBER Chapters, 2018, 263-282 (2018) View citations (15) (2018)

2018

15. Investor Redemptions and Fund Manager Sales of Emerging Market Bonds: How Are They Related?*
    (Borrow cheap, buy high? The determinants of leverage and pricing in buyouts)
    Review of Finance, 2018, 22, (1), 207-241 View citations (10)
    See also Working Paper Investor redemptions and fund manager sales of emerging market bonds: how are they related?, BIS Working Papers (2015) View citations (41) (2015)

2017

16. Comparative assessment of macroprudential policies
    Journal of Financial Stability, 2017, 28, (C), 183-202 View citations (166)
    See also Working Paper Comparative assessment of macroprudential policies, BIS Working Papers (2015) View citations (58) (2015)
17. Redemption risk and cash hoarding by asset managers
    Journal of Monetary Economics, 2017, 89, (C), 71-87 View citations (73)
    See also Working Paper Redemption risk and cash hoarding by asset managers, BIS Working Papers (2017) View citations (80) (2017)

2016

18. Can non-interest rate policies stabilize housing markets? Evidence from a panel of 57 economies
    Journal of Financial Stability, 2016, 26, (C), 31-44 View citations (207)
    See also Working Paper Can Non-Interest Rate Policies Stabilize Housing Markets? Evidence from a Panel of 57 Economies, NBER Working Papers (2013) View citations (129) (2013)
19. La politique macroprudentielle: un ouvrage en cours pour les banques centrales
    Revue d'économie financière, 2016, n° 121, (1), 111-130 View citations (2)

2015

20. Correlations across Asia-Pacific bond markets and the impact of capital flow management measures
    Pacific-Basin Finance Journal, 2015, 34, (C), 71-101 View citations (7)
21. The rise of regional banking in Asia and the Pacific
    BIS Quarterly Review, 2015 View citations (16)

2014

22. Asset managers in emerging market economies
    BIS Quarterly Review, 2014 View citations (56)
23. DISLOCATIONS IN THE WON‐DOLLAR SWAP MARKETS DURING THE CRISIS OF 2007–2009
    International Journal of Finance & Economics, 2014, 19, (4), 279-302 View citations (7)
    See also Chapter Dislocations in the Won-Dollar Swap Markets during the Crisis of 2007–2009, Palgrave Macmillan Books, 2014, 143-176 (2014) (2014)
24. The impact of CDS trading on the bond market: Evidence from Asia
    Journal of Banking & Finance, 2014, 40, (C), 460-475 View citations (10)
    See also Working Paper The impact of CDS trading on the bond market: evidence from Asia, BIS Working Papers (2010) View citations (5) (2010)

2013

25. Database for policy actions on housing markets
    BIS Quarterly Review, 2013 View citations (92)

2011

26. Dynamic Prudential Regulation: Is Prompt Corrective Action Optimal?
    Journal of Money, Credit and Banking, 2011, 43, (8), 1625-1661 View citations (16)
    Also in Journal of Money, Credit and Banking, 2011, 43, (8), 1625-1661 (2011) View citations (2)
    See also Working Paper Dynamic prudential regulation: Is prompt corrective action optimal?, BIS Working Papers (2006) View citations (12) (2006)

2010

27. Policy responses to dislocations in the FX swap market: the experience of Korea
    BIS Quarterly Review, 2010 View citations (29)

2008

28. A Model of the IMF as a Coinsurance Arrangement
    Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), 2008, 2, 1-41 View citations (4)
    See also Working Paper A Model of the IMF as a Coinsurance Arrangement, Economics Discussion Papers (2007) (2007)
29. Credit derivatives an structured creit: the nascant markets of Asia and the Pacific
    BIS Quarterly Review, 2008 View citations (14)

2007

30. Distress Selling and Asset Market Feedback
    Financial Markets, Institutions & Instruments, 2007, 16, (5), 243-291
    See also Working Paper Distress selling and asset market feedback, BIS Working Papers (2007) View citations (16) (2007)
31. Forbearance and Prompt Corrective Action
    Journal of Money, Credit and Banking, 2007, 39, (5), 1107-1129 View citations (6)
    Also in Journal of Money, Credit and Banking, 2007, 39, (5), 1107-1129 (2007) View citations (26)
    See also Working Paper Forbearance and Prompt Corrective Action, 2005 Meeting Papers (2005) View citations (5) (2005)

2006

32. Corporate credit guarantees in Asia
    BIS Quarterly Review, 2006 View citations (14)

Books

2022

1. CBDCs in emerging market economies
   BIS Papers, Bank for International Settlements View citations (1)
   See also Chapter CBDCs in emerging market economies, BIS Papers chapters, Bank for International Settlements (2022) View citations (1) (2022)

Chapters

2023

1. Macro-Financial Stability Frameworks: Experience and Challenges
   Chapter 3 in MACRO-FINANCIAL STABILITY POLICY IN A GLOBALISED WORLD: LESSONS FROM INTERNATIONAL EXPERIENCE Selected Papers from the Asian Monetary Policy Forum 2021 Special Edition and MAS-BIS Conference, 2023, pp 2-49 View citations (2)
   See also Working Paper Macro-financial stability frameworks: experience and challenges, Bank for International Settlements (2022) View citations (4) (2022)

2022

2. CBDCs in emerging market economies
   A chapter in CBDCs in emerging market economies, 2022, vol. 123, pp 1-21 View citations (1)
   See also Book CBDCs in emerging market economies, Bank for International Settlements (2022) View citations (1) (2022)

2020

3. How effective are macroprudential policies in Asia Pacific? Evidence from a meta-analysis
   A chapter in Measuring the effectiveness of macroprudential policies using supervisory bank-level data, 2020, vol. 110, pp 3-15 View citations (8)
4. Original sin redux and policy responses in emerging market economies during the COVID-19 pandemic
   Chapter 1 in COVID-19 in Developing Economies, 2020, vol. 1, pp 353-361 View citations (7)

2019

5. The role of different institutional investors in Asia-Pacific bond markets during the taper tantrum
   A chapter in Asia-Pacific fixed income markets: evolving structure, participation and pricing, 2019, vol. 102, pp 113-142 View citations (1)

2018

6. The Costs of Macroprudential Policy
   A chapter in NBER International Seminar on Macroeconomics 2018, 2018, pp 263-282 View citations (15)
   See also Working Paper The Costs of Macroprudential Policy, C.E.P.R. Discussion Papers (2018) View citations (15) (2018)
   Journal Article The costs of macroprudential policy, Elsevier (2019) View citations (111) (2019)

2017

7. Foreword
   A chapter in Financial systems and the real economy, 2017, vol. 91, pp iii-vi
8. Household credit in Asia-Pacific
   A chapter in Financial systems and the real economy, 2017, vol. 91, pp 129-144 View citations (4)

2016

9. Financial development and the effectiveness of macroprudential measures
   A chapter in Macroprudential policy, 2016, vol. 86, pp 103-116 View citations (4)

2015

10. Effectiveness of macroprudential and capital flow measures in Asia and the Pacific
    A chapter in Cross-border Financial Linkages: Challenges for Monetary Policy and Financial Stability, 2015, vol. 82, pp 185-192 View citations (8)

2014

11. Dislocations in the Won-Dollar Swap Markets during the Crisis of 2007–2009
    Palgrave Macmillan
    See also Journal Article DISLOCATIONS IN THE WON‐DOLLAR SWAP MARKETS DURING THE CRISIS OF 2007–2009, John Wiley & Sons, Ltd. (2014) View citations (7) (2014)

2012

12. Development of Asia-Pacific corporate bond and securitisation markets
    A chapter in Weathering financial crises: bond markets in Asia and the Pacific, 2012, vol. 63, pp 5-14 View citations (7)
13. Discussant remarks on Andrew Felton and Joseph B Nichols’ paper Commercial real estate loan performance at failed US banks
    A chapter in Property markets and financial stability, 2012, vol. 64, pp 25-28 View citations (1)
14. Taming the Real Estate Beast: The Effects of Monetary and Macroprudential Policies on Housing Prices and Credit
    A chapter in Property Markets and Financial Stability, 2012 View citations (36)

2010

15. The international financial crisis: timeline, impact and policy responses in Asia and the Pacific
    A chapter in The international financial crisis and policy challenges in Asia and the Pacific, 2010, vol. 52, pp 21-82 View citations (30)

2009

16. Introduction for "Household debt: implications for monetary policy and financial stability"
    A chapter in Household debt: implications for monetary policy and financial stability, 2009, vol. 46, pp 1-3 View citations (3)