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. http://www.allaboutalpha.com/blog/2019/01/29/how-public-pension-funds-are-subsidizing-infrastructure/
blog article
HOW PUBLIC PENSION FUNDS ARE SUBSIDIZING INFRASTRUCTURE
Public pension funds in the United States invest in infrastructure. Unfortunately, they aren’t very good at it. A recent working paper of the NBER concludes, indeed, that public pensions are so bad at such investments that they—and thus either the public or its retirees or both—are unwittingly subsidizing infrastructure projects. The paper’s authors, Aleksandar Andonov, Roman Kräussl, and Joshua D, Rauh investigate “the characteristics of infrastructure as an asset class from an investment perspective of a limited partner.” Andonov is affiliated with the University of Amsterdam; Kräussl and Rauh are both with Hoover Institution, Stanford University. READ MORE