Congratulations to the new Foreign Honorary Members: Michihiro Kandori (UTokyo | 東京大学), Jean-Charles Rochet (@TSEinfo), Hyun Song Shin (@BIS_org), and Silvana Tenreyo (@LSEEcon). aeaweb.org/about-aea/hono…

[2/2] LLMs don’t always get the underlying logics of the texts they were trained on. Anyone who asked antitrust questions to an LLM will know that this is also true in a legal context. Good news for humans!

[1/2] A very nice piece by Hyun Song Shin and Fernando Perez-Cruz on why“caution should be exercised in deploying LLMs in contexts that demand rigorous reasoning.”

bis.org/publ/bisbull83…

Matthew C. Klein Hyun Song Shin This is nice. There are a lot of other similar results. eg basic arithmetic or calculus operations passing or failing depending on the familiarity of the labelling. [eg convert farenheit to centigrade is easy to pass, but execute equivalent arithmetic hard.

Fun paper from Hyun Song Shin on the limits of GPT4 for solving logic games:

bis.org/publ/bisbull83…

Thoughtful and entertaining take from Robin Wigglesworth on my piece on the cognitive limits of LLMs

bis.org/publ/bisbull83…

Watch the livestream of Hyun Song Shin, Kristalina Georgieva IMF, Stefan Ingves, So Young Kim and David E Rutter discussing Digital Money and its Role in the Global Economy at the MOEF-BOK-FSC-IMF conference, Thursday 9:40 am in Seoul youtube.com/watch?v=zUl4cG…

The BIS has published a useful guide to popular measures of financial conditions
bis.org/publ/bisbull80…

New CEPR Discussion Paper - DP18570
Margins, debt capacity, and systemic risk
Sirio Aramonte Federal Reserve, Andreas Schrimpf Andreas Schrimpf Bank for International Settlements Universität Tübingen, Hyun Song Shin Hyun Song Shin Bank for International Settlements
ow.ly/R50E50Q6huB
#CEPR_AP , #CEPR_BCF

Looking forward to this panel

Looking forward to delivering the keynote at the European Central Bank #macroprudential_conference tomorrow

I will be presenting 'The Bank of Amsterdam and the limits of fiat money'

bis.org/publ/work1065.…

Pleasure to take part in this roundtable

Was great to co chair the roundtable on “Boosting Trade Finance and Supply Chains” with Makhtar Diop, Managing Director of the IFC on the sidelines of the the World Bank/IMF Annual Meetings. Appreciate the strong partnership with IFC and the other Multilateral Development

Learning something new is (for me) the mark of a great day. The privilege of picking the brains of Indermit Gill, Pierre-Olivier Gourinchas, and Hyun Song Shin on global economic prospects was a case in point today.

Really interesting research here from Hyun Song Shin and colleagues. Recent supply chain realignment has mean chains lengthening, not new networks, adding to the evidence that the decoupling we've seen so far is more modest than it looks on the surface. bis.org/publ/bisbull78…

Great note from Hyun Song Shin et al on how companies in Asia ex-China have 'interposed' themselves between Chinese suppliers and U.S. customers, creating illusion of 'decoupling' w/out actually diversifying supply chains or increasing economic resilience:

bis.org/publ/bisbull78…