Skip to main content
Official Logo of Columbia Business School
Academic Programs
  • Visit Academic Programs
  • MBA
  • Executive MBA
  • Master of Science
  • PhD
  • Undergraduate Concentration
Faculty & Research
  • Visit Faculty & Research
  • Academic Divisions
  • Faculty Search
  • CBS Research
  • Research Resources
  • Research Opportunities
Executive Education
  • Visit Executive Education
  • For Organizations
  • For Individuals
  • Program Finder
  • Online Programs
  • Certificates
Alumni
  • Visit Alumni
  • Alumni Clubs
  • Alumni Benefits
  • Alumni Events
  • Lifetime Network
  • Women's Circle
  • Career Management
About Us
  • Visit About Us
  • The CBS Experience
  • Leadership
  • Our History
  • CBS Directory
  • Newsroom
  • Magazine
CBS Insights
  • Visit CBS Insights
  • AI & Business Analytics
  • Business & Society
  • Climate
  • Finance
  • Entrepreneurship
  • More on CBS Insights

Breadcrumb

  1. Directory
  2. Faculty
  3. Frederic Mishkin

Frederic Mishkin

Alfred Lerner Professor of Banking and Financial Institutions
Economics Division
Frederic Mishkin
Areas of Expertise
Financial Institutions, Globalization, Macroeconomics
Contact
Office: 534 Kravis
E-mail: [email protected]
Links
Personal Website
Curriculum Vitae

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.

Education
BS, Massachusetts Institute of Technology, 1973; PhD, 1976
Joined CBS
1983

All Activities

  • Research
  • Teaching
  • Awards and Honors
  • Press
  • Journal articles
  • Working papers
  • Articles
  • Books
  • Chapters
Type
Journal Article
Mishkin, Frederic
. “Over the Cliff: From the Subprime to the Global Financial Crisis.”
Journal of Economic Perspectives
vol.
25
, (January 01, 2011):
49
-
70
.
Read More about Over the Cliff: From the Subprime to the Global Financial Crisis
Download PDF on Over the Cliff: From the Subprime to the Global Financial Crisis
Type
Journal Article
Mishkin, Frederic
. “Monetary Policy Flexibility, Risk Management, and Financial Disruptions.”
Journal of Asian Economics
vol.
21
, (June 01, 2010):
242
-
246
.
Read More about Monetary Policy Flexibility, Risk Management, and Financial Disruptions
Type
Working Paper
Mishkin, Frederic
. Comments on Campbell, Shiller, and Viceira. January 31, 2010.
Read More about Comments on Campbell, Shiller, and Viceira
Download PDF on Comments on Campbell, Shiller, and Viceira
Type
Working Paper
Mishkin, Frederic
. Inflation Targeting: True Progress or Repackaging of an Old Idea? January 01, 2006.
Read More about Inflation Targeting: True Progress or Repackaging of an Old Idea?
Download PDF on Inflation Targeting: True Progress or Repackaging of an Old Idea?
Type
Working Paper
Mishkin, Frederic
. Is Financial Globalization Beneficial? January 01, 2006.
Read More about Is Financial Globalization Beneficial?
Download PDF on Is Financial Globalization Beneficial?
Type
Working Paper
Mishkin, Frederic
. How Big a Problem is Too Big to Fail? January 01, 2006.
Read More about How Big a Problem is Too Big to Fail?
Download PDF on How Big a Problem is Too Big to Fail?
Type
Working Paper
Mishkin, Frederic
. Can Central Bank Transparency Go Too Far? November 01, 2004.
Read More about Can Central Bank Transparency Go Too Far?
Download PDF on Can Central Bank Transparency Go Too Far?
Type
Working Paper
Mishkin, Frederic
. Can Inflation Targeting Work in Emerging Market Countries? September 01, 2004.
Read More about Can Inflation Targeting Work in Emerging Market Countries?
Download PDF on Can Inflation Targeting Work in Emerging Market Countries?
Type
Working Paper
Crockett, Andrew, Trevor Harris, Frederic Mishkin, and Eugene White
. Conflicts of Interest in the Financial Services Industry: What Should We Do About Them?? January 01, 2004.
Read More about Conflicts of Interest in the Financial Services Industry: What Should We Do About Them??
Type
Newspaper/Magazine Article
Mishkin, Frederic
. “The Fed Must Adopt an Inflation Target.”
Financial Times
. October 24, 2010.
Read More about The Fed Must Adopt an Inflation Target
Type
Newspaper/Magazine Article
Mishkin, Frederic
. “The Next Great Globalization: How Disadvantaged Nations Can Harness Their Financial Systems to Get Rich.”
Chazen Web Journal of International Business
. January 01, 2005.
Read More about The Next Great Globalization: How Disadvantaged Nations Can Harness Their Financial Systems to Get Rich
Download PDF on The Next Great Globalization: How Disadvantaged Nations Can Harness Their Financial Systems to Get Rich
Type
Book
Mishkin, Frederic
. Macroeconomics: Policy and Practice. 
Boston, MA
:
Prentice Hall
, 2011.
Read More about Macroeconomics: Policy and Practice
Type
Book
French, Kenneth R., Martin N. Baily, John Y. Campbell, John H. Cochrane, Douglas W. Diamond, Darrell Duffie, and Frederic Mishkin
. The Squam Lake Report: Fixing the Financial System. 
Princeton, NJ
:
Princeton University Press
, 2010.
Read More about The Squam Lake Report: Fixing the Financial System
Type
Book
Mishkin, Frederic
. Monetary Policy Strategy. 
Cambridge
:
MIT Press
, 2007.
Read More about Monetary Policy Strategy
Type
Book
Mishkin, Frederic
. The Next Great Globalization: How Disadvantaged Nations Can Harness Their Financial Systems to Get Rich. 
Princeton, N.J.
:
Princeton University Press
, 2006.
Read More about The Next Great Globalization: How Disadvantaged Nations Can Harness Their Financial Systems to Get Rich
Type
Book
Crockett, Andrew, Trevor Harris, Frederic Mishkin, and Eugene White
. Conflicts of Interest in the Financial Services Industry: What Should We Do About Them? 
London
:
Centre for Economic Policy Research
, 2004.
Read More about Conflicts of Interest in the Financial Services Industry: What Should We Do About Them?
Type
Chapter
Ang, Andrew, Ann Bartel, Patrick Bolton, Wouter Dessein, Franklin Edwards, Lawrence Glosten, Geoffrey Heal, Gur Huberman, Charles Jones, Christopher Mayer, Frederic Mishkin, Eli Noam, Andrea Prat, Jonah Rockoff, Lynne Sagalyn, Stephen Zeldes, and Brian Thomas
. “1. Finance and Economics.” In
Columbia Business School
,
1
-
28
.
Columbia University Press
, 2016.
Read More about 1. Finance and Economics
Type
Chapter
Mishkin, Frederic
. “Comment on "Great Inflation and Central Bank Independence in Japan".” In
The Great Inflation: The Rebirth of Modern Central Banking
, edited by
Michael Bordo and Athanasios Orphanides
,
Chicago
:
University of Chicago Press
, 2013.
Read More about Comment on "Great Inflation and Central Bank Independence in Japan"
Download PDF on Comment on "Great Inflation and Central Bank Independence in Japan"
Type
Chapter
Mishkin, Frederic
. “Monetary Policy Strategy: Lessons from the Crisis.” In
Approaches to Monetary Policy Revisited: Lessons from the Crisis
, edited by
Marek Jarocinski, Frank Smets, and Christian Thimann
,
67
-
118
.
Frankfurt
:
European Central Bank
, 2011.
Read More about Monetary Policy Strategy: Lessons from the Crisis
Type
Chapter
Hatzius, Jan, Peter Hooper, Frederic Mishkin, Kermit Schoenholtz, and Mark Watson
. “Financial Conditions Indexes: A Fresh Look After the Financial Crisis.” In
Proceedings of the 2010 U.S. Monetary Policy Forum
,
Chicago, IL
:
U.S. Monetary Policy Forum
, 2010.
Read More about Financial Conditions Indexes: A Fresh Look After the Financial Crisis
Download PDF on Financial Conditions Indexes: A Fresh Look After the Financial Crisis
Type
Chapter
Boivin, Jean, Michael Kiley, and Frederic Mishkin
. “How Has the Monetary Transmission Mechanism Evolved Over Time? .” In
Handbook of Monetary Economics
, edited by
Benjamin Friedman and Michael Woodford
,
369
-
422
.
Amsterdam
:
Elsevier
, 2010.
Read More about How Has the Monetary Transmission Mechanism Evolved Over Time?
Type
Chapter
Mishkin, Frederic
. “Remarks on Systemic Risk and the International Lender of Last Resort.” In
Globalization and Systemic Risk
, edited by
Douglas Evanoff, David Hoelscher, and George Kaufman
,
27
-
38
.
New Jersey
:
World Scientific Publishing
, 2009.
Read More about Remarks on Systemic Risk and the International Lender of Last Resort
  • Courses
  • Case Studies
Type
Course
B8251: Global Economic Environment III: Financial Markets and the Macroeconomy
View Course on Global Economic Environment III: Financial Markets and the Macroeconomy
Type
Course
B7251: GEEII: Financial Markets, Monetary Policy and the Global Economy
View Course on GEEII: Financial Markets, Monetary Policy and the Global Economy
  • Awards & Honors
  • In the Media
  • Ideas
  • Research In Brief
  • Press Releases
Type
In the Media

The Fed Didn’t Need to Kill Jobs to Fight Inflation. Why the Models Were Wrong.

Barron's
Type
In the Media

What We’ve Learnt from the Great Hike

The Economist
Type
In the Media

Wasn’t Lower Inflation Supposed to Be Impossible without Higher Unemployment?

Cato Institute
Type
In the Media

2 Rate Hikes or Hold? Fed Predictions Vary from No Rate Hikes to 6% in 2023

Bitcoin News
Type
In the Media

One Way to Make Banks Safer? Make Them “Narrower.”

Marketplace
Type
In the Media

Fed Needs to Stress Test Banks’ Interest Rate Risks: Former Fed Gov. Frederic Mishkin

CNBC
Type
In the Media

Fed Now on Right Track to Price Stability

The Financial Times
Type
In the Media

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 

Fortune
Type
In the Media

The Flaws in the Fed's Approach to Inflation

The Financial Times
Type
In the Media

Falling Producer Price Index Fans Fears of Deflation

Marketplace Radio
Type
In the Media

Is the Federal Reserve helping Main Street or Wall Street?

NBC News
Type
In the Media

The Fed's Four Radical Moves to Save the Economy

BBC News
Type
In the Media

The Fed Left Interest Rates Unchanged - Five Experts on What They're Watching Now

CNBC
Type
In the Media

Bullard Spars with Mishkin over Lifeless Body of Phillips Curve

Bloomberg News
Official Logo of Columbia Business School

Columbia University in the City of New York
665 West 130th Street, New York, NY 10027
Tel. 212-854-1100

Maps and Directions
    • Centers & Programs
    • Current Students
    • Corporate
    • Directory
    • Support Us
    • Recruiters & Partners
    • Faculty & Staff
    • Newsroom
    • Careers
    • Contact Us
    • Privacy & Policy Statements
Back to Top Upward arrow
TOP

© Columbia University

  • Twitter
  • Instagram
  • Facebook
  • YouTube
  • LinkedIn