Summary of our paper doi.org/10.1093/rfs/hh… showing that ESG preferences and impact investing explain partially the increased allocation and underperformance of public institutional investors in infrastructure

Public pension funds starting to add leverage because 80% allocation to equities and alternative assets is not risky enough to maintain high expected returns (discount rates). Great risk-sharing arrangement! pionline.com/editorial/cons…

We show that the return expectations of pension funds are extrapolative and positively related to cross-sectional differences in past performance. If Fund A had 1 percentage point higher past return than Fund B, Fund A will expect 30 basis points higher return in the future.

Admission to our Research Master in Economics (2022-2024) at Tinbergen Institute (TI) has opened! Interested? Visit lnkd.in/gtM5Pj6Q to review all relevant information.

We have open positions for tenure-track Assistant Professors in Finance at the University of Amsterdam! Dear Job Market Candidates, you can find more information at ssrn.com/index.cfm/en/j… UvA Finance Group is looking forward to your applications!

How important are the shortfalls in state public pensions systems? My paper nber.org/papers/w29405 with Darren Aiello Asaf Bernstein Ryan Lewis and Michael Schwert on NBER measures their economic burden on households #EconTwitter BYU Marriott School of Business Leeds Business Gies Business The Wharton School 1/N

#Forthcoming: The Return Expectations of Public Pension Funds Aleksandar Andonov Aleksandar Andonov UvA Amsterdam Joshua D Rauh Joshua Rauh Stanford Graduate School of Business academic.oup.com/rfs/advance-ar…

I show that the added value of alternative investments to the overall portfolio is limited as institutional investors pay high costs and significantly underperform their benchmarks by investing in real estate, private equity, hedge funds, commodities, and infrastructure.

We have open positions for tenure-track Assistant Professors in Finance at the University of Amsterdam! Join our Finance Group at UvA! More info: econjobmarket.org/positions/8879

Introducing Tinbergen Institute 2022-2023 Job Market Candidates: tinbergen.nl/job-market-can… Throughout the week we will be sharing profiles of individual candidates. Stay tuned! #Econjobmarket #EconTwitter

Municipal finance dashboard is live! Get real time credit spreads for state and local governments across the United States 🏙️💹 Check👇 municipalfinance.stanford.edu

For everyone not following Dutch politics closely, what's being discussed for the future of higher education in this country is truly insane, not even indicted former US presidents could come up with something more stupid. Buckle up! nrc.nl/nieuws/2023/06…

Because let's be realistic: the only reason NL was able to punch above its weight scientifically, was because English was the lingua franca in higher ed (and also universally usable in daily life). Let's not ruin that!

New CEPR Discussion Paper - DP18352 Delegated Investment Management in Alternative Assets Aleksandar Andonov Aleksandar Andonov UvA Amsterdam ow.ly/Shrv50Pyxus #CEPR_AP, #CEPR_BCF

Now while I have your attention, here's a great #ASSA2024 #AEA2024 session: Investing in Infrastructure, tmw (Fri Jan 5). It's got evidence, effects, inequality, finance... and most of all Infrastructure. Hope to see you there. 3/3

New CEPR Discussion Paper - DP19289 The Shifting #Finance of Electricity Generation Aleksandar Andonov UvA Amsterdam, Joshua Rauh Stanford Graduate School of Business Hoover Institution ow.ly/eYmP50SK895 #CEPR_AP #CEPR_BCF #CEPR_CCE #energy #innovation