Frederic Mishkin
Alfred Lerner Professor of Banking and Financial Institutions
Economics
BS, Massachusetts Institute of Technology, 1973; PhD, 1976
Joined CBS in 1983
Office:
534
Kravis
E-mail:
[email protected]
Fax:
212-854-9895
Personal Website
Curriculum Vitae
Biography
Frederic S. Mishkin is the Alfred Lerner Professor of Banking and Financial Institutions at the Graduate School of Business, Columbia University. He is also a Research Associate at the National Bureau of Economic Research, and from September 2006 to August 2008 was a member (governor) of the Board of Governors of the Federal Reserve System. He has also been a Senior Fellow at the FDIC Center for Banking Research, and past President of the Eastern Economic Association. Since receiving his Ph.D. from the Massachusetts Institute of Technology in 1976, he has taught at the University of Chicago, Northwestern University, Princeton University and Columbia. He has also received an honorary professorship from the Peoples (Renmin) University of China. From 1994 to 1997 he was Executive Vice President and Director of Research at the Federal Reserve Bank of New York and an associate economist of the Federal Open Market Committee of the Federal Reserve System.
Professor Mishkin's research focuses on monetary policy and its impact on financial markets and the aggregate economy. He is the author of The Economics of Money, Banking and Financial Markets, 8th Edition (Addison Wesley Longman, 2007), the number one selling textbook in its field. In addition he is the author of more than fifteen other books, including Financial Markets and Institutions, 6th edition (Pearson, 2009), Monetary Policy Strategy (MIT Press, 2007), The Next Great Globalization: How Disadvantaged Nations Can Harness Their Financial Systems to Get Rich (Princeton University Press, 2006), Inflation Targeting: Lessons from the International Experience (Princeton University Press, 1999), Money, Interest Rates, and Inflation (Edward Elgar, 1993),A Rational Expectations Approach to Macroeconometrics:Testing Policy Ineffectiveness and Efficient Markets Models (University of Chicago Press, 1983), and has published over one hundred and fifty articles in professional journals and books.
Professor Mishkin has served on the editorial board of the American Economic Review,has been an associate editor at the Journal of Business and Economic Statistics, Journal of Applied Econometrics, and the Journal of Economic Perspectives, and was the editor of the Federal Reserve Bank of New York's, Economic Policy Review. He is currently an associate editor (member of the editorial board) at six academic journals, including the Journal of Money, Credit and Banking, Macroeconomics and Monetary Economics Abstracts, Journal of International Money and Finance, International Finance, Finance India, and Economic Policy Review. He has been a consultant to the Board of Governors of the Federal Reserve System, the World Bank, the Inter-American Development Bank and the International Monetary Fund, as well as to numerous central banks throughout the world. He was also a member of the International Advisory Board to the Financial Supervisory Service of South Korea and an advisor to the Institute for Monetary and Economic Research at the Bank of Korea.
Teaching
Spring 2022
Global Economic Environment III: Financial Markets and the Macroeconomy
(MBA)
Spring 2021
Global Economic Environment III: Financial Markets and the Macroeconomy
(MBA)
Fall 2021
GEEII: Financial Markets, Monetary Policy and the Global Economy
(EMBA)
Spring 2020
Global Economic Environment III: Financial Markets and the Macroeconomy
(MBA)
Fall 2020
GEEII: Financial Markets, Monetary Policy and the Global Economy
(EMBA)
Spring 2019
Global Economic Environment III: Financial Markets and the Macroeconomy
(MBA)
Fall 2019
Financial Markets & the Economy
(EMBA)
Spring 2018
Global Economic Environment III: Financial Markets and the Macroeconomy
(MBA)
Fall 2018
Research
Journal articles
Over the Cliff: From the Subprime to the Global Financial Crisis
In Journal of Economic Perspectives
(2011)
Coauthor(s): Frederic Mishkin
Monetary Policy Flexibility, Risk Management, and Financial Disruptions
In Journal of Asian Economics
(2010)
Coauthor(s): Frederic Mishkin
Books
Macroeconomics: Policy and Practice
(2011)
Coauthor(s): Frederic Mishkin
The Squam Lake Report: Fixing the Financial System
(2010)
Coauthor(s): Kenneth R. French, Martin N. Baily, John Y. Campbell, John H. Cochrane, Douglas W. Diamond, Darrell Duffie, Frederic Mishkin
Monetary Policy Strategy
(2007)
Coauthor(s): Frederic Mishkin
The Next Great Globalization: How Disadvantaged Nations Can Harness Their Financial Systems to Get Rich
(2006)
Coauthor(s): Frederic Mishkin
Conflicts of Interest in the Financial Services Industry: What Should We Do About Them?
(2004)
Coauthor(s): Andrew Crockett, Trevor Harris, Frederic Mishkin, Eugene White
Chapters
Comment on "Great Inflation and Central Bank Independence in Japan"
In The Great Inflation: The Rebirth of Modern Central Banking
(2013)
Coauthor(s): Frederic Mishkin
Monetary Policy Strategy: Lessons from the Crisis
In Approaches to Monetary Policy Revisited: Lessons from the Crisis
(2011)
Coauthor(s): Frederic Mishkin
Financial Conditions Indexes: A Fresh Look After the Financial Crisis
In Proceedings of the 2010 U.S. Monetary Policy Forum
(2010)
Coauthor(s): Jan Hatzius, Peter Hooper, Frederic Mishkin, Kermit Schoenholtz, Mark Watson
How Has the Monetary Transmission Mechanism Evolved Over Time?
In Handbook of Monetary Economics
(2010)
Coauthor(s): Jean Boivin, Michael Kiley, Frederic Mishkin
Remarks on Systemic Risk and the International Lender of Last Resort
In Globalization and Systemic Risk
(2009)
Coauthor(s): Frederic Mishkin
Web-only articles
The Next Great Globalization: How Disadvantaged Nations Can Harness Their Financial Systems to Get Rich
In Chazen Web Journal of International Business
(2005)
Coauthor(s): Frederic Mishkin
Working papers
Comments on Campbell, Shiller, and Viceira
In Brookings Papers on Economic Activity
(2010)
Coauthor(s): Frederic Mishkin
How Big a Problem is Too Big to Fail?
In Working Paper 11814
(2006)
Coauthor(s): Frederic Mishkin
Inflation Targeting: True Progress or Repackaging of an Old Idea?
(2006)
Coauthor(s): Frederic Mishkin
Is Financial Globalization Beneficial?
In Working Paper 11891
(2006)
Coauthor(s): Frederic Mishkin
Can Central Bank Transparency Go Too Far?
(2004)
Coauthor(s): Frederic Mishkin
Can Inflation Targeting Work in Emerging Market Countries?
(2004)
Coauthor(s): Frederic Mishkin
Lectures
The Inflation Targeting Debate
(2005)
Coauthor(s): Frederic Mishkin
The Fed After Greenspan
(2005)
Coauthor(s): Frederic Mishkin
Ideas and Insights
In The Media
Fed Now on Right Track to Price Stability
Bank of America Warns the Fed Will Hike Rates to the ‘Point of Pain’ as Experts Say There’s No ‘Serious Signs’ the Economy Is Under Control
Fed Should Hike by 50 Basis Points Next Meeting, Says Former Fed Gov. Frederic Mishkin
Will Central Banks Kill or Nurture the Polar Bear?
The Fed Must Avoid Volcker’s Mistake on Inflation
Press Releases
Newspaper articles
The Fed Must Adopt an Inflation Target
In Financial Times
(2010)
Coauthor(s): Frederic Mishkin