Background
MISHKIN, Frederic S. was born in 1951 in New York City, New York, United States of America.
MISHKIN, Frederic S. was born in 1951 in New York City, New York, United States of America.
Bachelor of Science, Doctor of Philosophy Massachusetts Institute of Technology, Cambridge, Mass., USA, 1973, 1976.
Assistant Professor, Association Professor, University Chicago, 1976-1981,1981-1983. Research Association, National Bureau of Economie Research, New York, New York, United States of America, Cambridge, Massachusetts. Brookings Panel Economics Activity,
8.
Economics, Board Governors, Federal Reserve System, 1977. Visiting Association Professor, Kellogg Graduate School Management, Northwestern University, 1982-1983. Professor, Graduate School Business, Columbia University, New York, since 1983.
Editorial Board, American Economic Review.
My research has been motivated by the desire to better understand the sources of businesscycle fluctuations and how monetary policy affects aggregate economic activity. My early work focussed on the transmission mechanisms of monetary policy. I explored the impact of changes in household balance-sheets on the demand for illiquid assets, such as consumer durables and residential housing, and found that this could be a potent channel for monetary policy effects on the economy.
I then used this analysis to see if this would provide a better understanding of some important businesscycle episodes, in particular the Great Depression and the 1973-1975 recession. Because monetary policy has important effects on the economy my affecting financial markets, I next looked at the implications of the theory of efficient capital markets to see how monetary policy should be conducted. This led naturally to my use of this theory (or equivalently the theory of rational expectations) to analyse such topics as the relationship of monetary policy and interest rates.
The resulting empirical analysis required the development of
econometric techniques which could distinguish between the effects of anticipated versus unanticipated policy. My work on these techniques led to my also pursuing the question of whether anticipated monetary policy matters to business-cycle fluctuations. My most recent work has focussed on the measurement of real interest rates on many different kinds of assets using rational expectations techniques.
Since some of these assets are traded internationally, this has also led to work on international financial markets and to the exploration of certain international parity conditions.
American Economic Association
American Fin. Association
Eastern Economic Association (vice president, 2002-03, president-elect, 2003-04, president 2004-05)
2002 - 2003
Phi Beta Kappa
Sigma Xi.