Joshua D. Rauh

Stanford Graduate School of Business

Professor of Finance

655 Knight Way

Stanford, CA 94305-5015

United States

Hoover Institution

Stanford, CA 94305-6010

United States

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue

Cambridge, MA 02138

United States

SCHOLARLY PAPERS

29

DOWNLOADS
Rank 580

SSRN RANKINGS

Top 580

in Total Papers Downloads

35,699

SSRN CITATIONS
Rank 1,928

SSRN RANKINGS

Top 1,928

in Total Papers Citations

333

CROSSREF CITATIONS

198

Scholarly Papers (29)

1.

Are State Public Pensions Sustainable? Why the Federal Government Should Worry About State Pension Liabilities

Number of pages: 27 Posted: 27 Apr 2010 Last Revised: 17 May 2010
Joshua D. Rauh
Stanford Graduate School of Business
Downloads 8,006 (666)
Citation 9

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Public Pensions, State and Local Government, Public Finance, Pension Reform

2.
Downloads 6,544 ( 949)
Citation 11

Capital Structure and Debt Structure

AFA 2009 San Francisco Meetings Paper, EFA 2008 Athens Meetings Paper
Number of pages: 56 Posted: 19 Mar 2008 Last Revised: 18 Feb 2010
Joshua D. Rauh and Amir Sufi
Stanford Graduate School of Business and University of Chicago - Booth School of Business
Downloads 6,391 (974)
Citation 11

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debt structure, bank debt, monitoring, credit ratings, private placements, commercial paper, convertible debt

Capital Structure and Debt Structure

NBER Working Paper No. w14488
Number of pages: 50 Posted: 17 Nov 2008 Last Revised: 04 Aug 2010
Joshua D. Rauh and Amir Sufi
Stanford Graduate School of Business and University of Chicago - Booth School of Business
Downloads 153 (193,946)

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3.

Public Pension Promises: How Big are They and What are They Worth?

Journal of Finance, Forthcoming
Number of pages: 61 Posted: 05 Mar 2009 Last Revised: 13 Oct 2010
Robert Novy-Marx and Joshua D. Rauh
Simon Business School, University of Rochester and Stanford Graduate School of Business
Downloads 5,553 (1,251)
Citation 52

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public pensions, financial risk, state and local governments, portfolio choice, municipal bonds

Wall Street and Main Street: What Contributes to the Rise in the Highest Incomes?

CRSP Working Paper No. 615, AFA 2008 New Orleans Meetings Paper
Number of pages: 67 Posted: 20 Sep 2006
Joshua D. Rauh and Steven N. Kaplan
Stanford Graduate School of Business and University of Chicago - Booth School of Business
Downloads 3,082 (3,430)
Citation 6

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Compensation, Wage Differentials, Income Inequality, Corporate Governance

Wall Street and Main Street: What Contributes to the Rise in the Highest Incomes?

NBER Working Paper No. w13270
Number of pages: 68 Posted: 23 Jul 2007 Last Revised: 05 Oct 2007
Joshua D. Rauh and Steven N. Kaplan
Stanford Graduate School of Business and University of Chicago - Booth School of Business
Downloads 68 (340,756)
Citation 1

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Earnings Manipulation, Pension Assumptions and Managerial Investment Decisions

Number of pages: 43 Posted: 29 May 2004
Daniel Bergstresser, Joshua D. Rauh and Mihir A. Desai
Brandeis International Business School, Stanford Graduate School of Business and Harvard Business School - Finance Unit
Downloads 1,985 (7,227)
Citation 1

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Earnings, Manipulation, Pensions, Defined Benefit Plans, Asset Allocation, Mergers

Earnings Manipulation, Pension Assumptions and Managerial Investment Decisions

EFA 2004 Maastricht Meetings Paper No. 4245
Number of pages: 43 Posted: 18 Jun 2004
Daniel Bergstresser, Joshua D. Rauh and Mihir A. Desai
Brandeis International Business School, Stanford Graduate School of Business and Harvard Business School - Finance Unit
Downloads 382 (76,824)
Citation 29

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earnings manipulation, pensions, asset allocation,

6.

Explaining Corporate Capital Structure: Product Markets, Leases, and Asset Similarity

Number of pages: 55 Posted: 19 Apr 2010 Last Revised: 28 Jun 2010
Joshua D. Rauh and Amir Sufi
Stanford Graduate School of Business and University of Chicago - Booth School of Business
Downloads 1,391 (13,227)
Citation 25

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Capital Structure, Leases, Industries, Product Markets, Asset Tangibility, Liquidation Value

7.

The Return Expectations of Institutional Investors

Stanford University Graduate School of Business Research Paper No. 18-5, 9th Miami Behavioral Finance Conference 2018
Number of pages: 59 Posted: 28 Dec 2017 Last Revised: 15 Mar 2019
Aleksandar Andonov and Joshua D. Rauh
University of Amsterdam and Stanford Graduate School of Business
Downloads 1,156 (17,548)
Citation 4

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Institutional investors, return expectations, asset allocation, portfolio choice, return extrapolation

8.

Political Representation and Governance: Evidence from the Investment Decisions of Public Pension Funds

Journal of Finance, Forthcoming
Number of pages: 54 Posted: 27 Mar 2016 Last Revised: 19 Nov 2017
Aleksandar Andonov, Yael V. Hochberg and Joshua D. Rauh
University of Amsterdam, National Bureau of Economic Research (NBER) and Stanford Graduate School of Business
Downloads 1,097 (19,009)
Citation 8

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Politicians, Governance, Public Pension Funds, Private Equity, Underperformance, State Officials, Pension Fund Boards

The Intergenerational Transfer of Public Pension Promises

Chicago GSB Research Paper No. 08-13
Number of pages: 43 Posted: 07 Jul 2008 Last Revised: 16 Nov 2008
Robert Novy-Marx and Joshua D. Rauh
Simon Business School, University of Rochester and Stanford Graduate School of Business
Downloads 762 (31,548)

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public pensions, financial risk, state and local governments, portfolio choice

The Intergenerational Transfer of Public Pension Promises

NBER Working Paper No. w14343
Number of pages: 42 Posted: 23 Sep 2008 Last Revised: 11 Sep 2010
Robert Novy-Marx and Joshua D. Rauh
Simon Business School, University of Rochester and Stanford Graduate School of Business
Downloads 33 (467,798)

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10.
Downloads 784 ( 30,829)
Citation 15

The Revenue Demands of Public Employee Pension Promises

Number of pages: 63 Posted: 16 Dec 2011 Last Revised: 16 Oct 2012
Robert Novy-Marx and Joshua D. Rauh
Simon Business School, University of Rochester and Stanford Graduate School of Business
Downloads 759 (31,721)

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pensions, state and local government, public finance

The Revenue Demands of Public Employee Pension Promises

NBER Working Paper No. w18489
Number of pages: 64 Posted: 27 Oct 2012
Robert Novy-Marx and Joshua D. Rauh
Simon Business School, University of Rochester and Stanford Graduate School of Business
Downloads 25 (511,760)
Citation 1

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11.

Investment and Financing Constraints: Evidence from the Funding of Corporate Pension Plans

AFA 2005 Philadelphia Meetings
Number of pages: 56 Posted: 30 Dec 2004
Joshua D. Rauh
Stanford Graduate School of Business
Downloads 619 (42,420)
Citation 39

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Risk Shifting Versus Risk Management: Investment Policy in Corporate Pension Plans

Number of pages: 61 Posted: 20 Sep 2006
Joshua D. Rauh
Stanford Graduate School of Business
Downloads 514 (53,249)
Citation 28

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Risk Shifting, Risk Management, Pensions, Asset Allocation

Risk Shifting Versus Risk Management: Investment Policy in Corporate Pension Plans

NBER Working Paper No. w13240
Number of pages: 62 Posted: 09 Jul 2007 Last Revised: 06 Sep 2010
Joshua D. Rauh
Stanford Graduate School of Business
Downloads 56 (377,079)

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Risk Shifting Versus Risk Management: Investment Policy in Corporate Pension Plans

The Review of Financial Studies, Vol. 22, Issue 7, pp. 2487-2533, 2009
Posted: 22 Jun 2009
Joshua D. Rauh
Stanford Graduate School of Business

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G11, G23, G32

13.

Fiscal Imbalances and Borrowing Costs: Evidence from State Investment Losses

Number of pages: 55 Posted: 18 Nov 2009 Last Revised: 30 Mar 2011
Robert Novy-Marx and Joshua D. Rauh
Simon Business School, University of Rochester and Stanford Graduate School of Business
Downloads 523 (52,718)
Citation 6

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fiscal imbalances, deficits, public debt, interest rates, borrowing costs, public employee pensions, public pension funds

Local Overweighting and Underperformance: Evidence from Limited Partner Private Equity Investments

Number of pages: 87 Posted: 31 Mar 2011 Last Revised: 05 Feb 2016
Yael V. Hochberg and Joshua D. Rauh
National Bureau of Economic Research (NBER) and Stanford Graduate School of Business
Downloads 474 (59,094)
Citation 20

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Public Pension Funds, Portfolio Choice, Private Equity, Home Bias, Limited Partner Performance Puzzle

Local Overweighting and Underperformance: Evidence from Limited Partner Private Equity Investments

NBER Working Paper No. w17122
Number of pages: 59 Posted: 20 Jun 2011 Last Revised: 05 Feb 2016
Yael V. Hochberg and Joshua D. Rauh
National Bureau of Economic Research (NBER) and Stanford Graduate School of Business
Downloads 19 (550,290)

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15.

Cost Shifting and the Freezing of Corporate Pension Plans

FEDS Working Paper No. 2013-82
Number of pages: 54 Posted: 23 Nov 2013
Joshua D. Rauh, Irina Stefanescu and Stephen P. Zeldes
Stanford Graduate School of Business, Federal Reserve Board, Washington D.C. and Columbia Business School - Finance and Economics
Downloads 468 (60,628)
Citation 6

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defined benefit plans, pension freezes, pension cost, labor cost, firm value, benefit accruals

16.

Why are Firms in the United States Abandoning Defined Benefit Plans?

Rotman International Journal of Pension Management, Vol. 2, No. 2, Fall 2009
Number of pages: 9 Posted: 30 Oct 2009 Last Revised: 17 Feb 2011
Joshua D. Rauh and Irina Stefanescu
Stanford Graduate School of Business and Federal Reserve Board, Washington D.C.
Downloads 444 (64,639)

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Benefit Accruals, Cost Savings, Defined Benefit Plan, Pension Conversion, Pension Freeze

17.

Cost Saving and the Freezing of Corporate Pension Plans

Columbia Business School Research Paper No. 16-4, Stanford University Graduate School of Business Research Paper No. 16-4
Number of pages: 63 Posted: 22 Dec 2015 Last Revised: 03 Jun 2019
Joshua D. Rauh, Irina Stefanescu and Stephen P. Zeldes
Stanford Graduate School of Business, Federal Reserve Board, Washington D.C. and Columbia Business School - Finance and Economics
Downloads 359 (83,112)
Citation 3

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Pensions; Pension freezes; Pension cost; Retirement; Labor compensation, Firm value.

State Taxation and the Reallocation of Business Activity: Evidence from Establishment-Level Data

US Census Bureau Center for Economic Studies Paper No. CES-WP-17-02, Stanford University Graduate School of Business Research Paper No. 17-7
Number of pages: 79 Posted: 11 Jan 2017
Xavier Giroud and Joshua D. Rauh
Columbia Business School - Finance and Economics and Stanford Graduate School of Business
Downloads 271 (112,546)

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State Taxation and the Reallocation of Business Activity: Evidence from Establishment-Level Data

NBER Working Paper No. w21534
Number of pages: 71 Posted: 08 Sep 2015
Xavier Giroud and Joshua D. Rauh
Columbia Business School - Finance and Economics and Stanford Graduate School of Business
Downloads 22 (530,857)
Citation 14

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The Subsidy to Infrastructure as an Asset Class

Stanford University Graduate School of Business Research Paper No. 18-42
Number of pages: 64 Posted: 24 Sep 2018 Last Revised: 29 Sep 2019
Aleksandar Andonov, Roman Kräussl and Joshua D. Rauh
University of Amsterdam, Luxembourg School of Finance and Stanford Graduate School of Business
Downloads 205 (149,093)

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Infrastructure, Public Pension Funds, Institutional Investors

The Subsidy to Infrastructure as an Asset Class

NBER Working Paper No. w25045
Number of pages: 48 Posted: 17 Sep 2018
Aleksandar Andonov, Roman Kräussl and Joshua D. Rauh
University of Amsterdam, Luxembourg School of Finance and Stanford Graduate School of Business
Downloads 8 (625,296)
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20.

Financial Valuation of PBGC Insurance with Market‐Implied Default Probabilities

Simon School Working Paper No. FR 13-27
Number of pages: 25 Posted: 06 Oct 2013 Last Revised: 31 Jan 2014
University of Pennsylvania - The Wharton School, Simon Business School, University of Rochester and Stanford Graduate School of Business
Downloads 211 (145,260)

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pensions, pension benefit guaranty corporation, insurance valuation

21.

Earnings Manipulation and Managerial Investment Decisions: Evidence from Sponsored Pension Plans

NBER Working Paper No. w10543
Number of pages: 50 Posted: 17 Jun 2004
Daniel Bergstresser, Joshua D. Rauh and Mihir A. Desai
Brandeis International Business School, Stanford Graduate School of Business and Harvard Business School - Finance Unit
Downloads 126 (226,201)
Citation 1

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22.

The Economics of State and Local Public Pensions

NBER Working Paper No. w16792
Number of pages: 24 Posted: 28 Feb 2011
Jeffrey R. Brown, Robert L. Clark and Joshua D. Rauh
University of Illinois at Urbana-Champaign - Department of Finance, North Carolina State University - Poole College of Management and Stanford Graduate School of Business
Downloads 104 (259,788)

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23.

Behavioral Responses to State Income Taxation of High Earners: Evidence from California

Number of pages: 74 Posted: 03 Oct 2019 Last Revised: 08 Oct 2019
Joshua D. Rauh and Ryan Shyu
Stanford Graduate School of Business and Stanford Graduate School of Business
Downloads 100 (281,672)

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income taxation, migration, high earners, state taxation, marginal tax rates, taxable income elasticity

24.

Lifecycle Asset Allocation Strategies and the Distribution of 401(K) Retirement Wealth

NBER Working Paper No. w11974
Number of pages: 41 Posted: 17 Apr 2006 Last Revised: 21 Sep 2010
National Bureau of Economic Research (NBER), Stanford Graduate School of Business, National Bureau of Economic Research (NBER) and Dartmouth College - Department of Economics
Downloads 100 (266,797)

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25.

Defined Contribution Plans, Defined Benefit Plans, and the Accumulation of Retirement Wealth

NBER Working Paper No. w12597
Number of pages: 51 Posted: 20 Oct 2006 Last Revised: 03 Sep 2010
National Bureau of Economic Research (NBER), Stanford Graduate School of Business, Dartmouth College - Department of Economics and National Bureau of Economic Research (NBER)
Downloads 88 (289,775)
Citation 3

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26.

Utility Evaluation of Risk in Retirement Saving Accounts

NBER Working Paper No. w9892
Number of pages: 49 Posted: 17 Aug 2003 Last Revised: 04 Nov 2010
National Bureau of Economic Research (NBER), Stanford Graduate School of Business, Dartmouth College - Department of Economics and National Bureau of Economic Research (NBER)
Downloads 65 (344,794)

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27.

Policy Options for State Pension Systems and Their Impact on Plan Liabilities

NBER Working Paper No. w16453
Number of pages: 31 Posted: 18 Oct 2010 Last Revised: 20 Oct 2010
Joshua D. Rauh and Robert Novy-Marx
Stanford Graduate School of Business and Simon Business School, University of Rochester
Downloads 55 (374,577)
Citation 1

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28.

Linking Benefits to Investment Performance in Us Public Pension Systems

NBER Working Paper No. w18491
Number of pages: 45 Posted: 27 Oct 2012 Last Revised: 02 Nov 2012
Robert Novy-Marx and Joshua D. Rauh
Simon Business School, University of Rochester and Stanford Graduate School of Business
Downloads 19 (531,552)

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29.

Behavioral Responses to State Income Taxation of High Earners: Evidence from California

NBER Working Paper No. w26349
Posted: 07 Oct 2019
Joshua D. Rauh and Ryan Shyu
Stanford Graduate School of Business and Independent
Downloads 6 (612,646)
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