Frederic Mishkin is one of the most popular and richest Economist who was born on January 11, 1951 in New York, United States. Mishkin was appointed a member of Board of Governors of the Federal Reserve on September 5 in 2006 to serve the unfulfilled term which ended on January 31st 2014. On May 28 2008, in the midst of the financial meltdown Mishkin resigned as a member of his position on the Board of Governors, effective August 31, 2008 to allow him to revise the textbook he was using and to resume his professorship at Columbia Business School.
From 1994 until in 1997, Dr. Mishkin worked as the Executive Vice Director and President in the Federal Reserve Bank of New York and Associate Economist with the Federal Open Market Committee of the Federal Reserve System. The Dr. Mishkin was the editor of the Federal Reserve Bank of New York’s Economic Policy Review and later was on the editorial board. Between 1997 and 2006, he was an academic consultant and was a member of the Economic Advisory Panel of the Federal Reserve Bank of New York. Mishkin was an academic advisor on behalf of the Board of Governors and was a visiting scholar in the Bank’s Division of International Finance.
Mishkin is an Full Professor at Columbia Business School since 1983. He was his A. Barton Hepburn Professorship of Economics from 1991 until 1999, after which Mishkin was named the Alfred Lerner Professor of Banking and Financial Institutions. He was also an associate researcher in the National Bureau of Economic Research (1980 until 2006) as well as was a Senior Fellow at the Federal Deposit insurance Corporation’s Center for Banking Research (2003 until 2006). Professor. Mishkin was also a professor at the University of Chicago (1976-1983) and an adjunct Professor in Northwestern University (1982-1983), as well as a visiting Professor in Princeton University (1990-1991).
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.
