Frederic Mishkin

Frederic Mishkin served as a Federal Reserve Board Governor from 2006 to 2008 and has been a professor at Columbia Business School. His textbook "The Economics of Money, Banking and Financial Markets" is one of the most widely used in monetary economics courses globally, now in its 13th edition. Mishkin has contributed research on inflation targeting, financial instability, and central bank communication. He was a vocal advocate for inflation targeting frameworks and has written on how financial crises transmit through the economy. His research on bank runs, deposit insurance design, and the credit channel of monetary transmission has provided the theoretical foundations for how central banks and financial regulators think about the relationship between banking system health and macroeconomic stability. He also studied the macroeconomic consequences of asset price bubbles and whether central banks should respond to them proactively.