State and Local Pension Funds 2022

Oliver Giesecke is a research fellow at the Hoover Institution, where he works on topics related to asset pricing and public finance. His recent work examines the capital structure, the book and market equity position, and the status quo and trend of public pension obligations of state and local governments across the United States. He holds a BA from Frankfurt University and a PhD from Columbia University.

Joshua Rauh is the Ormond Family Professor of Finance at Stanford’s Graduate School of Business and a senior fellow at the Hoover Institution, where he researches state and local economic policy. He was formerly principal chief economist on the President’s Council of Economic Advisers (2019–20). He holds a BA from Yale and a PhD from MIT, both in economics.

State and Local Governance Initiative

Hoover scholars of the State and Local Governance Initiative partner with lawmakers and agency officials in jurisdictions across America to generate research-based recommendations that will positively impact state and local government policies.