Gregory Kearney
Policy Fellow, Hoover Institution's Fiscal Policy Initiative
Gregory Kearney is a Policy Fellow with the Hoover Institution’s Fiscal Policy Initiative. His research focuses on public finance, particularly public pension funds and their impact on state and local budgets. He is the lead researcher and principal architect of the U.S. School Pension Atlas, a nationwide database and interactive platform measuring public-school pension contributions across roughly 12,800 school districts and 95 retirement systems.
His broader work includes state and federal tax policy, education finance, taxpayer migration, and the design of large administrative datasets and interactive policy tools. He has contributed to research on California’s proposed billionaire tax and is developing projects on benefit cliffs across the United States and the economic value created by major entrepreneurs. His research and commentary have appeared in outlets including the Wall Street Journal, Boston Globe, Chicago Tribune, New York Post, and The Star-Ledger/NJ.com.
Before joining Hoover, Kearney served as a Research Economist at the White House Council of Economic Advisers and as a transfer pricing consultant at Deloitte. He holds an M.P.A. in economics and public policy from Princeton University and a B.A. in economics, summa cum laude with honors, from Fordham University.
Joshua Rauh
Ormond Family Professor of Finance, Stanford's Graduate School of Business & George P. Shultz Senior Fellow in Economics, Hoover Institution
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. He leads the Hoover Institution's Fiscal Policy Initiative and the State and Local Government Initiative. He formerly served at the White House where he was principal chief economist on the President’s Council of Economic Advisers (2019-20), and taught at the University of Chicago’s Booth School of Business (2004–9) and the Kellogg School of Management (2009–12). At the Hoover Institution he has served as Director of Research (2018-19). He has testified before House, Joint, and Joint Select Committees of the United States Congress, and he is a member of the Panel of Economic Advisers of the Congressional Budget Office.
Dr. Rauh's research focuses on taxation, government pension liabilities, corporate investment, and investment management. His research has received national media coverage in outlets such as the Wall Street Journal, the New York Times, the Financial Times, and The Economist. He has published numerous journal articles and has received various awards recognizing his scholarship including the Brattle Prize and the Smith Breeden Prize of the American Finance Association. His scholarly papers have appeared in journals such as the Journal of Political Economy, the Quarterly Journal of Economics, the Journal of Finance, the Journal of Financial Economics, the Review of Financial Studies, and the Journal of Public Economics. He is a Research Associate of the National Bureau of Economic Research.
Dr. Rauh also writes and speaks about the distortionary effects of taxation and big government and the importance of shareholder capitalism. He has published numerous op-eds on these topics in outlets including the Wall Street Journal, The Hill, and The National Review online. His PragerU videos “Public Pensions: An Economic Time Bomb”, “Government: Too Big to Fix”, and “Can We Tax Our Way to Equality?” have received millions of views.
Prior to his academic career, he was an associate economist at Goldman Sachs in London. He received a BA from Yale University and a PhD from the Massachusetts Institute of Technology, both in economics.
Commentary
- The hidden cost of NJ's teacher pensions: $3.2 billion that never reached students — Star Ledger (NJ.com)
- Illinois public schools caught in the middle of a pension crisis — Chicago Tribune
- Pension costs crowd out in America's schools — Fiscal Reality Check, Substack
Media Coverage
- $100.5 Trillion of TK–12 Spending Under-Reported Due to Pensions — David Crane, Substack
- Gregory Kearney and Joshua Rauh: Illinois public schools are caught in the middle of the pension crisis — Wirepoints
- New study spotlights Illinois' oversized pension burden on public schools — Wirepoints
- Teacher pension problems continue to get bigger — Yahoo Finance
- Hoover scholars compile comprehensive database of education worker pension shortfalls across the U.S. — Hoover Institution
About the State and Local Governance Initiative
The State and Local Governance Initiative at the Hoover Institution conducts rigorous research to inform state and local government policy. Our team partners with government officials, policymakers, and other stakeholders to conduct analysis, generate actionable policy recommendations, and produce top-tier academic publications. You can find more about the team here.
