Fiscal Policy

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Featured Commentary

Articles

Killing The Goose That Lays The Golden Egg?

February 18, 2022 By Joshua D. Rauh, Jillian Ludwig

via Defining Ideas

Articles

California’s Tax-The-Rich Folly

August 1, 2020 By Joshua D. Rauh

via The Orange County Register

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Articles

Municipal Bond Investors Have To Share The Burden In State Bailouts

When Greece had its government debt crisis a decade ago, it received several rounds for bailout funding from the European Commission, the European Central Bank, and the International Monetary Fund…

September 17, 2020 By Joshua D. Rauh

via The Hill

Articles

Don't Use Coronavirus As Excuse To Bail Out State, Local Governments That Have Mismanaged Finances For Decades

April 13, 2020 By Joshua D. Rauh

via Fox Business

Articles

Lawmakers Hijack A Tax Cut To Create A Tax Increase—And They Won’t Own It

April 5, 2022 By Lee Ohanian

via California on Your Mind

Articles

A Proposition 30 Explainer

October 31, 2019 By Joshua D. Rauh, Ryan Shyu, Gregory Kearney

via Defining Ideas

Fellows in this Policy Area

Joshua D. Rauh

Senior Fellow

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Joshua D. Rauh

Senior Fellow

Joshua Rauh is the Ormond Family Professor of Finance at Stanford’s Graduate School of Business and a senior fellow at the Hoover Institution. He leads the Hoover Institution State and Local Governance 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). Rauh studies government pension liabilities, corporate investment, business taxation, and investment management. His research on pension systems and public finance has received national media coverage in outlets such as the Wall Street Journal, the New York Times, the Financial Times, and The Economist, and he has testified before Congress on these topics. His PragerU video “Public Pensions: An Economic Time Bomb” has been viewed over four million times on the PragerU website and over three million times on YouTube. 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. Prior to his academic career, he was an associate economist at Goldman Sachs in London. Rauh received a BA from Yale University and a PhD from the Massachusetts Institute of Technology, both in economics.

Lee Ohanian

Senior Fellow (adjunct)

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Lee Ohanian

Senior Fellow (adjunct)

Lee E. Ohanian is a senior fellow (adjunct) at the Hoover Institution and a professor of economics and director of the Ettinger Family Program in Macroeconomic Research at the University of California, Los Angeles (UCLA). He is associate director of the Center for the Advanced Study in Economic Efficiency at Arizona State University and a research associate at the National Bureau of Economic Research, where he codirects the research initiative Macroeconomics across Time and Space. He is also a fellow in the Society for the Advancement of Economic Theory. His research focuses on economic crises, economic growth, and the impact of public policy on the economy. Ohanian is coeditor of Government Policies and Delayed Economic Recovery (Hoover Institution Press, 2012). He is an adviser to the Federal Reserve Banks of Minneapolis and St. Louis, has previously advised other Federal Reserve banks, foreign central banks, and the National Science Foundation, and has testified to national and state legislative committees on economic policy. He is on the editorial boards of Econometrica and Macroeconomic Dynamics. He is a frequent media commentator and writes for the Wall Street Journal, Forbes, and Investor’s Business Daily. He has won numerous teaching awards at UCLA and the University of Rochester. He previously served on the faculties of the Universities of Minnesota and Pennsylvania and as vice president at Security Pacific Bank. He received his undergraduate degree in economics from the University of California, Santa Barbara, and his PhD in economics from the University of Rochester.