About the Authors

Gregory Kearney is a research associate at the Hoover Institution's State and Local Governance and Fiscal Policy Initiatives and the lead researcher and principal architect of the U.S. School Employees' Pension Funds Analysis. His work currently focuses on public-sector pensions, K-12 school finances, and the impact of fiscal pressures associated with pension spending on state and local budgets. In the past, he has worked on projects related to state and federal tax policy as well as infrastructure investment.

Before joining Hoover, Kearney worked as a research economist at the White House Council of Economic Advisers, as a research analyst at the Hoover Institution, and as a tax consultant in transfer pricing at Deloitte in New York City. He holds a B.A. degree in economics, summa cum laude with honors, from Fordham University and an M.P.A with a focus on economics and public policy from Princeton University.

Joshua Rauh is the George P. Shultz Senior Fellow in Economics at the Hoover Institution and the Ormond Family Professor of Finance at Stanford's Graduate School of Business. His research focuses on corporate investment and financial structure, private equity and venture capital, and the financial structures of pension funds and their sponsors.

Rauh has served as principal chief economist on the President's Council of Economic Advisers and taught at the University of Chicago’s Booth School of Business and the Kellogg School of Management. He is widely published in various academic journals, and his work has been featured in numerous media publications including the Wall Street Journal, The Hill, and National Review Online. He holds a B.A. degree in economics, magna cum laude with distinction, from Yale University and a Ph.D. in economics from the Massachusetts Institute of Technology.