David M. Frankel

Professor of Financial Economics

A financial economist, Prof. David M. Frankel joined Melbourne Business School in 2017.

David is an economic theorist with a primary interest in finance. His research interests include public offerings, capital structure, securitization & security design, liquidity, bank lending, stock market crashes, financial crises, and bailouts. His work has appeared in leading economics and finance journals such as Econometrica, the Quarterly Journal of Economics, the Review of Economic Studies, the Review of Financial Studies, and the Journal of Economic Theory.

After completing his Ph.D. at the Massachusetts Institute of Technology, David was a Lecturer at Tel Aviv University and an Associate Professor at Iowa State University. He has also held visiting positions at Cornell, Stanford, and Hebrew University.

Before his Ph.D., David received an M.Sc. in Sociology at Oxford, where he was funded by a Marshall Scholarship, and an A.B. in Mathematics at Harvard.

David is also Managing Director of Pelham Associates, a private consulting firm that engages in expert witness work, social research, and management consulting. At the time of its launch in 2020, Pelham Associates featured 23 practising academics in the areas of business, economics, law, and finance.

"Portfolio Liquidity and Security Design with Private Information." (with Peter DeMarzo and Yu Jin). Review of Financial Studies 34:5841–5885 (2021).

"Efficient Ex-Ante Stabilization of Firms." Journal of Economic Theory 170:112-144 (2017).

"Securitization and Lending Competition" (with Yu Jin). Review of Economic Studies 82: 1383-1408 (2015).

"Measuring School Segregation." Oscar Volij and David Frankel. Lead article in Journal of Economic Theory 146:1-38 (2011).

"Adaptive Expectations and Stock Market Crashes." International Economic Review 49:595-619 (2008). Appendix.

Equilibrium Selection in Global Games with Strategic Complementarities." David Frankel, Stephen Morris, and Ady Pauzner. Lead article in Journal of Economic Theory 108:1-44 (2003).

"Fast Equilibrium Selection by Rational Players Living in a Changing World." Krzysztof Burdzy, David Frankel, and Ady Pauzner. Econometrica 68:163-190 (2001).

"Resolving Indeterminacy in Dynamic Settings: The Role of Shocks." David Frankel and Ady Pauzner. Quarterly Journal of Economics 115:283-304 (2000).