Mishkin has been a consultant to 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 adviser to the Institute for Monetary and Economic Research at the Bank of Korea.

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.

From the Wikipedia site on Frederic Mishkin, professor at the Columbia Business School.

The question still remains, what effect will this report have on Mishkin’s career as an economist? A black stain or does anybody care  that professors who try to appear distinguished and pose as experts can be bought to validate bulls**t?

The Wikipedia page does not mention that the report was used by the Independence Party and the Icelandic banks to mask over the cracks that were to form one of the largest financial collapses in history, the Icelandic economic disaster. When people like Lars Christersen of Danske Bank raised concern over the Icelandic economy, Mishkin’s name was used as counterweight.

How does the professor feel about that now?

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