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Finding Genius Podcast

Importance of Macroeconomics and World Finances in the Time of COVID with Lori Leachman

Finding Genius Podcast

Richard Jacobs

Medicine, Health & Fitness

4.41K Ratings

🗓️ 19 August 2020

⏱️ 30 minutes

🧾️ Download transcript

Summary

Bio:

Professor Leachman is interested in studying the subjects of international trade, exchange rates, fiscal policy, and international macroeconomics. In conducting her research, she often incorporates intertemporal models, multicointegration and sustainability. Her current research project explores the political economy of intertemporal budgeting. She recently collaborated with G Rosas, A Bester, and P. Lange to complete a study on, "The Political Economy of Budget Deficits," and worked with the same team on the project entitled, "Multicointegration and Sustainability of Fiscal Practices."

She has also teamed up with Bill Francis to publish the works, "Twin Deficits: Apparition or Reality?" and "Multicointegration Analysis and the Sustainability of Foreign Debt." One of her earlier works, executed with Michael Thorpe, was a study on, "External Balance in the Small Open Economy of Australia." She has also published on such subjects as capital market integration, optimum corporate capital structure, and Ricardian equivalence.

More recently, Dr. Leachman has turned her attention to creative writing. Specifically, she has written a memoir about growing up in the South, football, and her father's death from CTE. The book titled, "The King of Halloween and Miss Firecracker Queen," will be released in May of 2018. As a result of these efforts, Dr. Leachman is currently working on framing the legal and ethical issues surrounding football and the issue of informed consent.

Lori Leachman is also the author of memoir about growing up in the South, in a football family, and her father's death from CTE. Her, father, Lamar Leachman, coached in the NFL for 14 years and won a Super Bowl coaching for the NY Giants. However, at the end of his life he suffered a long decline form CTE. This book tells that story as well as her family's love of the sport, and quirkiness of the South.

The book titled "The King of Halloween and Miss Firecracker Queen" is available on Amazon and at Barnesandnobel.com.

You can check out the book at her web site : www.lorileachman.net



Professor Lori Leachman brings her career's focus on international economics and her understanding of international trade importance and macro-fiscal budgeting to explain how the global community is navigating these times.

She explains

  • What are some important points in her career that have led to her current studies,
  • Why a broader tax base and good tax collection processes are key to a healthy debt-to-GDP ratio, and
  • How they U.S. is fairing in such terms and why different approaches might improve its situation.

Lori Leachman is an author and a professor of economics at Duke University. She began her career looking at the openness of economies and the degree of integration in financial markets. She then moved to currency and exchange markets and advantages of international trade.

She studied how exchange rates evolved together and whether currency exchange actually worked—such as when the central back is buying or selling currency. She also studied the anticipatory nature of financial markets and international trade importance and imbalance of payments.

Most recently, she's focused on macro-fiscal processes and budgeting, namely which countries ran persistent large deficits and accumulated large volumes of debt and which countries did not. She talks about her findings and world finances more generally such as the importance of creating hierarchy in the budget process.

She specifically talks about the U.S. debt-to-GDP ratio, what's problematic, and how the U.S. uses the privilege of the dollar. She discusses all this in terms of how COVID is affecting systems and what we might expect in the future.

For more, see her website at Duke, econ.duke.edu/people/lori-leachman, and email her with leachman@econ.duke.edu.

Available on Apple Podcasts: apple.co/2Os0myK

Transcript

Click on a timestamp to play from that location

0:00.0

Forget frequently asked questions common sense common knowledge or Google how about advice from a real genius

0:06.8

95% of people in any profession are good enough to be qualified and licensed 5% go and beyond. They become very good at what they do, but only 0.1% are real Jesus.

0:18.3

Richard Jacobs has made it his life's mission to find them for you. He hunts down and interviews geniuses in every field, sleep science, cancer, stem cells,

0:27.2

ketogenic diets, and more.

0:28.8

Here come the geniuses.

0:30.4

This is the Finding Genius Podcast.

0:33.0

That is Richard Jacobs.

0:35.0

Hello, this is Richard Jacobs with the Finding Genius Podcast.

0:41.0

I have Lori Leachman, which's an author and a professor of economics at Duke University.

0:47.0

And we have to talk about her economic outlook and her work.

0:50.0

So, Lori, thanks for coming.

0:52.0

Thank you for having me.

0:53.0

It's a pleasure to be here.

0:55.0

So what was your research about until the coronavirus like, you know, ruined everything

1:01.0

and then has it changed since the coronavirus?

1:04.0

Well I'm an economist as you said and my fields are international and macro and so I

1:12.0

started my career looking at things like the openness of economies and the level degree of integration in financial markets and generally out of that research you know I found that

1:26.0

most economies had some degree of openness meaning they traded and they had money flow

1:31.1

and that that was increasing over time and that basically financial markets and capital

1:38.1

mobility was rising.

1:41.2

And that then led me to studying things like the currency markets and exchange

1:46.5

rates. And in particular, I was interested there in whether exchange rates tended to move

...

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