Pension systems expert to speak at UK Oct. 18

The Lane Report
October 2, 2017

LEXINGTON, Ky. (Oct. 2, 2017) — As Kentucky lawmakers try to decide how to deal with the commonwealth’s pension problem, a widely recognized scholar on the subject of state and local pension systems will be speaking at University of Kentucky’s Gatton College of Business and Economics on Wednesday, Oct. 18.

Joshua D. Rauh’s research on pension systems in the U.S. has received national media coverage in outlets such as the Wall Street Journal, The New York Times, the Financial Times and The Economist. He is the Ormond Family Professor of Finance at the Stanford University Graduate School of Business and a senior fellow at the Hoover Institution. He has taught at the University of Chicago’s Booth School of Business (2004-09) and Northwestern University’s Kellogg School of Management (2009-12).

Rauh studies corporate investment and financial structure, public pension liabilities, and the financial structure of pension funds and their sponsors. He has published numerous journal articles and in 2011 he won the Smith Breeden Prize for the outstanding research paper on capital markets, published in the Journal of Finance, for his paper “Public Pension Promises: How Big Are They and What Are they Worth?” co-authored with Robert Novy-Marx.

His other writings include “Earnings Manipulation, Pension Assumptions and Managerial Investment Decisions,” co-authored with Daniel Bergstresser and Mihir Desai, which won the Barclays Global Investor Best Symposium Paper from the European Finance Association and appeared in the Quarterly Journal of Economics. Other work has appeared in the Review of Financial Studies, the Journal of Financial Economics and the Review of Finance.

Rauh earned his bachelor’s degree in economics from Yale University and his doctoral degree in economics from the Massachusetts Institute of Technology.

The event runs from 5:30-6:30 p.m. Wednesday, Oct. 18, and will be held in Woodward Hall (Room 307) in the Gatton College building. Rauh’s appearance is sponsored by the John H. Schnatter Institute for the Study of Free Enterprise. UK’s Schnatter Institute enhances public understanding of the connections among free enterprise, markets and individual freedom through rigorous research and open dialogue.

Schnatter Institute Director Aaron Yelowitz said, “This discussion could not be more timely. Pensions, and how to fund them, is a huge issue in Kentucky and in many other states.”

The public is welcome to attend and admission is free. Seating is limited. Please RSVP online at