Frederic Stanley "Rick" Mishkin
(born January 11, 1951) is an American economist
and Alfred Lerner professor of Banking and Financial Institutions at the Graduate School of Business, Columbia University. He was a member of the Board of Governors of the Federal Reserve System
from 2006 to 2008.
Early life and family
From 1994 to 1997 Mishkin 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. Dr. Mishkin was the editor of the Federal Reserve Bank of New York's Economic Policy Review and later served on that journal's editorial board. From 1997 to 2006, he also was an academic consultant to and served on the Economic Advisory Panel of the Federal Reserve Bank of New York. Mishkin has been an academic consultant to the Board of Governors and a visiting scholar at the Board's Division of International Finance.
In 2006 Mishkin co-authored a report called Financial Stability in Iceland
The report maintained that Iceland's economic fundamentals were strong. The report was commissioned by the Icelandic Chamber of Commerce in response to critical coverage of the Icelandic economy and certain Icelandic companies in the international business media.
Mishkin was paid $124,000 to co-author the report.
Two and a half years later, Iceland experienced a spectacular financial collapse
. According to the documentary film Inside Job
, the title of the report was changed to Financial Instability in Iceland
on Mishkin's curriculum vitae
(CV). Mishkin's CV was later corrected to list the report with its original title.
Mishkin wrote a note published on October 6, 2010 at the Financial Times' blog 
explaining his participation in the documentary Inside Job
. The director of Inside Job
, Charles Ferguson
, responded to Mishkin's note at the same blog.
Mishkin was confirmed as a member of the Board of Governors of the Federal Reserve on September 5, 2006 to fill an unexpired term ending January 31, 2014.
On May 28, 2008, in the middle of the financial collapse, he submitted his resignation from the Board of Governors, effective August 31, 2008, in order to revise his textbook and resume his teaching duties at Columbia Business School
Authorships and publications
Mishkin's research focuses on monetary policy
and its impact on financial markets
and the aggregate economy. He is the author of more than fifteen books and has published numerous articles in professional journals and books. Mishkin has served on the editorial board of the American Economic Review
and has been an associate editor at the Journal of Business and Economic Statistics
, the Journal of Applied Econometrics
, and the Journal of Economic Perspectives
. He was an associate editor (member of the editorial board) at the Journal of Money, Credit and Banking, Macroeconomics and Monetary Economics Abstracts
, Journal of International Money and Finance
, International Finance
, and Finance India
Mishkin is the author of the textbook Economics of Money, Banking, and Financial Markets (What's New in Economics)
(12th edition) ISBN 978-0134733821
- ^ "Mishkin Gallery". Baruch College, Weissman School of Arts & Sciences. Retrieved 29 December 2020.
- ^ Illiquidity, the demand for consumer durables, and monetary policy.
- ^ "Mishkin named to Federal Reserve". Columbia University Record. 22 April 1884. Retrieved 29 December 2020.
- ^ a b c d e "FRB Biography of Mishkin". frb.gov. Archived from the original on 2008-02-23. Retrieved 2008-07-07.
- ^ "Archived copy". Archived from the original on 2007-07-26. Retrieved 2007-09-25.
- ^ "Mishkin's very own Icelandic blow-up". Financial Times. Retrieved 2007-09-25.
- ^ Verified on 20 March 2011 at Mishkin CV online at Columbia University.
- ^ The economist’s reply to the Inside Job, October 8, 2010
- ^ The director of 'Inside Job' replies October 14, 2010
- ^ "Resignation Letter" (PDF). frb.gov. Retrieved 2008-07-07.
Last edited on 31 December 2020, at 10:01
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