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

  • Stanford Graduate School of Business

  • Hoover Institution

SCHOLARLY PAPERS

35

DOWNLOADS
Rank 960

SSRN RANKINGS

Top 960

in Total Papers Downloads

44,814

SSRN CITATIONS
Rank 912

SSRN RANKINGS

Top 912

in Total Papers Citations

1,338

CROSSREF CITATIONS

221

Scholarly Papers (35)

Actions:
Email selected abstracts
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 8,248 (1,359)
Citation 11

Abstract:

Loading...

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

2.

Capital Structure and Debt Structure

Downloads 7,065 ( 1,771)
Citation 105

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 6,859 (1,834)
Citation 37

Abstract:

Loading...

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 2022
Joshua D. Rauh and Amir Sufi
Stanford Graduate School of Business and University of Chicago - Booth School of Business
Downloads 206 (252,869)
Citation 7

Abstract:

Loading...

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 5,812 (2,426)
Citation 109

Abstract:

Loading...

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

4.

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

Downloads 3,305 ( 6,396)
Citation 48

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 3,202 (6,622)
Citation 44

Abstract:

Loading...

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: 06 Oct 2022
Joshua D. Rauh and Steven N. Kaplan
Stanford Graduate School of Business and University of Chicago - Booth School of Business
Downloads 103 (445,824)
Citation 2

Abstract:

Loading...

5.

Earnings Manipulation, Pension Assumptions and Managerial Investment Decisions

Downloads 2,541 ( 9,627)
Citation 65

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
affiliation not provided to SSRN, Stanford Graduate School of Business and Harvard Business School - Finance Unit
Downloads 2,089 (12,945)
Citation 2

Abstract:

Loading...

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
affiliation not provided to SSRN, Stanford Graduate School of Business and Harvard Business School - Finance Unit
Downloads 452 (110,106)
Citation 44

Abstract:

Loading...

earnings manipulation, pensions, asset allocation,

6.

The Return Expectations of Public Pension Funds

Downloads 2,375 (10,756)
Citation 29

The Return Expectations of Public Pension Funds

Stanford University Graduate School of Business Research Paper No. 18-5, 9th Miami Behavioral Finance Conference 2018
Number of pages: 99 Posted: 06 Nov 2019 Last Revised: 02 Oct 2021
Aleksandar Andonov and Joshua D. Rauh
University of Amsterdam and CEPR and Stanford Graduate School of Business
Downloads 2,373 (10,568)
Citation 16

Abstract:

Loading...

Institutional investors, pension funds, return expectations, asset allocation, extrapolation

The Return Expectations of Public Pension Funds

CEPR Discussion Paper No. DP16635
Number of pages: 102 Posted: 09 Nov 2021
Aleksandar Andonov and Joshua D. Rauh
University of Amsterdam and CEPR and Stanford Graduate School of Business
Downloads 2 (1,086,566)
Citation 22
  • Add to Cart

Abstract:

Loading...

asset allocation, extrapolation, institutional investors, pension funds, Return Expectations

7.

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 1,469 (22,798)
Citation 31

Abstract:

Loading...

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

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 and CEPR, National Bureau of Economic Research (NBER) and Stanford Graduate School of Business
Downloads 1,406 (24,329)
Citation 25

Abstract:

Loading...

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

9.

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

Number of pages: 77 Posted: 03 Oct 2019 Last Revised: 06 May 2022
Joshua D. Rauh and Ryan Shyu
Stanford Graduate School of Business and Stanford Graduate School of Business
Downloads 1,336 (26,216)

Abstract:

Loading...

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

10.

Institutional Investors and Infrastructure Investing

Downloads 1,070 (36,190)
Citation 6

Institutional Investors and Infrastructure Investing

Stanford University Graduate School of Business Research Paper No. 18-42
Number of pages: 92 Posted: 24 Sep 2018 Last Revised: 15 Mar 2021
Aleksandar Andonov, Roman Kräussl and Joshua D. Rauh
University of Amsterdam and CEPR, Bayes Business School (formerly Cass) and Stanford Graduate School of Business
Downloads 981 (40,317)
Citation 1

Abstract:

Loading...

Infrastructure, Public Pension Funds, Institutional Investors, ESG regulation

The Subsidy to Infrastructure as an Asset Class

NBER Working Paper No. w25045
Number of pages: 48 Posted: 17 Sep 2018 Last Revised: 08 Jun 2023
Aleksandar Andonov, Roman Kräussl and Joshua D. Rauh
University of Amsterdam and CEPR, Bayes Business School (formerly Cass) and Stanford Graduate School of Business
Downloads 83 (513,965)
Citation 2

Abstract:

Loading...

Institutional Investors and Infrastructure Investing

CEPR Discussion Paper No. DP15946
Number of pages: 95 Posted: 31 Mar 2021
Aleksandar Andonov, Roman Kräussl and Joshua D. Rauh
University of Amsterdam and CEPR, Bayes Business School (formerly Cass) and Stanford Graduate School of Business
Downloads 6 (1,055,096)
Citation 4
  • Add to Cart

Abstract:

Loading...

11.

The Intergenerational Transfer of Public Pension Promises

Downloads 886 (47,134)

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 804 (53,069)

Abstract:

Loading...

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 2022
Robert Novy-Marx and Joshua D. Rauh
Simon Business School, University of Rochester and Stanford Graduate School of Business
Downloads 82 (517,876)

Abstract:

Loading...

12.

The Revenue Demands of Public Employee Pension Promises

Downloads 863 (48,848)
Citation 30

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 816 (52,054)

Abstract:

Loading...

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 Last Revised: 08 Jan 2023
Robert Novy-Marx and Joshua D. Rauh
Simon Business School, University of Rochester and Stanford Graduate School of Business
Downloads 47 (693,363)
Citation 18

Abstract:

Loading...

13.

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 758 (58,267)
Citation 42

Abstract:

Loading...

14.

Trends in State and Local Pension Funds

Downloads 737 (60,481)

Trends in State and Local Pension Funds

Annual Review of Financial Economics, Vol. 15, pp. 221-238, 2023
Posted: 07 Nov 2023
Joshua D. Rauh and Oliver Giesecke
Stanford Graduate School of Business and Stanford University - Hoover Institution

Abstract:

Loading...

Trends in State and Local Pension Funds

Annual Review of Financial Economics, Volume 15, Forthcoming., Stanford University Graduate School of Business Research Paper No. 4258469
Number of pages: 36 Posted: 31 Oct 2022 Last Revised: 08 May 2023
Oliver Giesecke and Joshua D. Rauh
Stanford University - Hoover Institution and Stanford Graduate School of Business
Downloads 737 (59,609)

Abstract:

Loading...

Public Pensions, State and Local Government, Retirement Policies, Pension Cost, Government Debt

15.

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

Downloads 664 (69,268)
Citation 62

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 568 (83,221)
Citation 51

Abstract:

Loading...

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: 05 Sep 2022
Joshua D. Rauh
Stanford Graduate School of Business
Downloads 96 (468,103)

Abstract:

Loading...

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

Abstract:

Loading...

G11, G23, G32

16.

Taxes, Revenues, and Net Migration in California

Number of pages: 53 Posted: 28 Mar 2022 Last Revised: 27 Dec 2022
Joshua D. Rauh
Stanford Graduate School of Business
Downloads 617 (75,935)

Abstract:

Loading...

income taxation, migration, high earners, state taxation, marginal tax rates, state and local fiscal policy

17.

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

Downloads 605 (77,822)
Citation 52

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 560 (84,758)
Citation 32

Abstract:

Loading...

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: 15 Apr 2023
Yael V. Hochberg and Joshua D. Rauh
National Bureau of Economic Research (NBER) and Stanford Graduate School of Business
Downloads 45 (706,643)
Citation 31

Abstract:

Loading...

18.

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 580 (81,990)
Citation 38

Abstract:

Loading...

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

19.

Funding Direct Payments to Americans Through Social Security Deferral

Stanford University Graduate School of Business Research Paper No. 3580533
Number of pages: 16 Posted: 21 Apr 2020
Andrew G. Biggs and Joshua D. Rauh
American Enterprise Institute and Stanford Graduate School of Business
Downloads 572 (83,445)
Citation 2

Abstract:

Loading...

stimulus checks, economic stimulus payments, Social Security, COVID-19 policy

20.

Cost Saving and the Freezing of Corporate Pension Plans

Downloads 554 (86,883)
Citation 11

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: 65 Posted: 22 Dec 2015 Last Revised: 18 May 2020
Joshua D. Rauh, Irina Stefanescu and Stephen P. Zeldes
Stanford Graduate School of Business, Board of Governors of the Federal Reserve System and Columbia University - Columbia Business School, Finance
Downloads 521 (92,825)
Citation 7

Abstract:

Loading...

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

Cost Saving and the Freezing of Corporate Pension Plans

NBER Working Paper No. w27251
Number of pages: 50 Posted: 02 Jun 2020 Last Revised: 18 Jun 2023
Joshua D. Rauh, Irina Stefanescu and Stephen P. Zeldes
Stanford Graduate School of Business, Board of Governors of the Federal Reserve System and Columbia University - Columbia Business School, Finance
Downloads 33 (795,608)
Citation 2

Abstract:

Loading...

21.

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, Board of Governors of the Federal Reserve System and Columbia University - Columbia Business School, Finance
Downloads 535 (90,807)
Citation 9

Abstract:

Loading...

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

22.

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 Board of Governors of the Federal Reserve System
Downloads 521 (93,834)
Citation 2

Abstract:

Loading...

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

23.

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

Downloads 435 (116,372)
Citation 112

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 University - Columbia Business School, Finance and Stanford Graduate School of Business
Downloads 374 (137,223)

Abstract:

Loading...

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 University - Columbia Business School, Finance and Stanford Graduate School of Business
Downloads 61 (612,139)
Citation 37

Abstract:

Loading...

24.

The Shifting Finance of Electricity Generation

Stanford University Graduate School of Business Research Paper No. 4287123
Number of pages: 84 Posted: 07 Dec 2022 Last Revised: 06 Jul 2023
Aleksandar Andonov and Joshua D. Rauh
University of Amsterdam and CEPR and Stanford Graduate School of Business
Downloads 412 (123,986)
Citation 1

Abstract:

Loading...

energy, innovation, ownership, private equity, power plants, utilities, electricity, regulation.

25.

How Much Do Public Employees Value Defined Benefit versus Defined Contribution Retirement Benefits?

Stanford University Graduate School of Business Research Paper No. 4308471
Number of pages: 68 Posted: 28 Dec 2022 Last Revised: 24 Jun 2023
Oliver Giesecke and Joshua D. Rauh
Stanford University - Hoover Institution and Stanford Graduate School of Business
Downloads 292 (180,322)

Abstract:

Loading...

26.

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
Jules H. van Binsbergen, Robert Novy-Marx and Joshua D. Rauh
University of Pennsylvania - The Wharton School, Simon Business School, University of Rochester and Stanford Graduate School of Business
Downloads 263 (200,558)
Citation 1

Abstract:

Loading...

pensions, pension benefit guaranty corporation, insurance valuation

27.

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

NBER Working Paper No. w10543
Number of pages: 50 Posted: 17 Jun 2004 Last Revised: 24 Apr 2022
Daniel Bergstresser, Joshua D. Rauh and Mihir A. Desai
affiliation not provided to SSRN, Stanford Graduate School of Business and Harvard Business School - Finance Unit
Downloads 181 (284,566)
Citation 2

Abstract:

Loading...

28.

The Economics of State and Local Public Pensions

NBER Working Paper No. w16792
Number of pages: 24 Posted: 28 Feb 2011 Last Revised: 21 May 2023
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 142 (348,977)

Abstract:

Loading...

29.

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: 28 Apr 2023
James M. Poterba, James M. Poterba, Joshua D. Rauh, David A. Wise and Steven F. Venti
National Bureau of Economic Research (NBER)Massachusetts Institute of Technology (MIT) - Department of Economics, Stanford Graduate School of Business, National Bureau of Economic Research (NBER) and Dartmouth College - Department of Economics
Downloads 128 (377,942)
Citation 3

Abstract:

Loading...

30.

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: 28 Apr 2023
James M. Poterba, James M. Poterba, Joshua D. Rauh, Steven F. Venti and David A. Wise
National Bureau of Economic Research (NBER)Massachusetts Institute of Technology (MIT) - Department of Economics, Stanford Graduate School of Business, Dartmouth College - Department of Economics and National Bureau of Economic Research (NBER)
Downloads 115 (409,162)
Citation 8

Abstract:

Loading...

31.

Utility Evaluation of Risk in Retirement Saving Accounts

NBER Working Paper No. w9892
Number of pages: 49 Posted: 17 Aug 2003 Last Revised: 28 Apr 2023
James M. Poterba, James M. Poterba, Joshua D. Rauh, Steven F. Venti and David A. Wise
National Bureau of Economic Research (NBER)Massachusetts Institute of Technology (MIT) - Department of Economics, Stanford Graduate School of Business, Dartmouth College - Department of Economics and National Bureau of Economic Research (NBER)
Downloads 90 (484,093)
Citation 5

Abstract:

Loading...

32.

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: 17 Jun 2023
Joshua D. Rauh and Robert Novy-Marx
Stanford Graduate School of Business and Simon Business School, University of Rochester
Downloads 85 (501,574)
Citation 5

Abstract:

Loading...

33.

The Role of Inflation-Linked Debt in Us Government Finances

Mercatus Working Paper, Stanford University Graduate School of Business Research Paper No. 4527054
Number of pages: 32 Posted: 08 Aug 2023
Joshua D. Rauh
Stanford Graduate School of Business
Downloads 57 (622,356)

Abstract:

Loading...

inflation-indexed debt, Treasury Inflation-Protected Securities, TIPS, fixed income, break-even inflation, liquidity premium

34.

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

NBER Working Paper No. w26349
Number of pages: 80 Posted: 07 Oct 2019 Last Revised: 01 Jul 2023
Joshua D. Rauh and Ryan Shyu
Stanford Graduate School of Business and Independent
Downloads 51 (654,926)
Citation 1

Abstract:

Loading...

35.

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: 12 Jul 2023
Robert Novy-Marx and Joshua D. Rauh
Simon Business School, University of Rochester and Stanford Graduate School of Business
Downloads 44 (696,894)
Citation 4

Abstract:

Loading...