I'm a PhD student in Innovation and Public Policy at University College London, supervised by the economists Prof Mariana Mazzucato and Prof Antonio Andreoni. I am also a Teaching Assistant in Economics at the University of Manchester, where I teach Macroeconomics, Advanced Statistics and Economic History.

My PhD research focuses on public support for corporate investment. I examine public loans to private firms, a form of support which has received very little attention in previous work. I use data I collected on lending by the European Investment Bank under the EU's Juncker Plan which identifies the firms receiving finance and the investments they made with it. This dataset is unique and took me a year of research to construct!

My job market paper identifies the causal effects of EIB loans made to large European firms. To do this, I combine matching of control firms with very similar characteristics and difference-in-differences estimation robust to treatment effect heterogeneity. I find receiving a loan had a substantial positive effect on firm investment. Given the recipients were generally large firms investing in tangible capital, this suggests theoretical predictions about where public intervention can relieve financial constraints are too narrow.

In the future, I can see myself continuing to work on corporate finance and analysis of financial and monetary policies. However, identification of causal effects using microeconomic data of any kind is very exciting to me and I am interested in evaluating other types of policy.

For my full CV click here or contact me by email at d.frayman@ucl.ac.uk