Dive into the riveting journey of one of Israel's most influential economists, Prof. Leo Leiderman, in the latest episode of TAU Unbound, Tel Aviv University's flagship podcast. Hosted by Ido Aharoni, this episode offers a window into Leiderman's personal and professional life, from his roots in Cordoba, Argentina, to his groundbreaking contributions to Israel's economic landscape.
Prof. Leiderman, Chief Economic Advisor at Bank Hapoalim, is no stranger to shaping monetary policy. A former Senior Director at the Bank of Israel, he played a critical role in Israel's shift to an inflation-targeting regime in the late 1990s. His illustrious career includes time as Managing Director at Deutsche Bank on Wall Street and teaching positions at Tel Aviv University's Coller School of Management and Berglas School of Economics.
Leiderman's personal story is as captivating as his professional one. He recalls studying Hebrew in Argentina, joining the Zionist movement, and eventually moving to Israel after the Six-Day War. "I remember standing on Jaffa Street in Jerusalem, marveling at how perfect life felt—vibrant, exciting, and full of potential," he shares in the episode.
A student of Nobel laureate Prof. Robert E. Lucas Jr. at the University of Chicago, Leiderman discusses his early fascination with macroeconomics and his focus on empirical research. "I'm not a theoretical economist," he explains. "I adapt theories to reality, using data to test and refine economic models."
The podcast explores key moments in Israel's economic history, such as the battle to curb soaring inflation in the 1980s. Leiderman provides insights into the challenges of managing government deficits, central bank autonomy, and the introduction of indexation to protect Israeli salaries during turbulent times. He also draws fascinating parallels between Israel and Latin America, where similar inflation struggles unfolded.
Leiderman reflects on lessons learned from inflation to financial markets and how global disruptions—from the 2008 financial crisis to the COVID-19 pandemic—have reshaped economic policies worldwide. "Inflation control requires tough decisions, but history shows it's possible with the right strategies," he notes.
Please tune in to TAU Unbound to hear more about Leiderman's journey, his thoughts on Israel's economy, and the global forces shaping our financial future. Don't miss this insightful episode of Tel Aviv 360, Israel's most diverse podcast on research and innovation.
This article was written in cooperation with Tel Aviv University.