PhD Traineeship in the Directorate General International and European Relations

Analysis and Policy Advice
International & European Relations
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General Information

Type of contract PhD traineeship

Who can apply? EU nationals eligible for our traineeship programme

Grant The trainee grant is €2,120 per month plus an accommodation allowance (see further information section)

Role specialisation International and European Relations

Working time Full time

Place of work Frankfurt am Main, Germany

Closing date 01.12.2020

Your team

You will be part of the Directorate General International and European Relations. Our Directorate General has 120 staff preparing policy positions for the ECB, the Eurosystem and the European System of Central Banks on international and European issues (except the macroeconomic policies of the euro area and EU countries).

You will be assigned to either the International Policy Analysis Division or the External Developments Division. 

The International Policy Analysis Division conducts economic analyses of issues of systemic relevance related to the global economy, the global monetary and financial system and the international financial architecture, including matters related to global spillovers, international capital markets, commodities and exchange rates.

The External Developments Division monitors and analyses economic conditions in non-EU countries and the global cyclical situation and prepares macroeconomic projections for non-EU countries and the global economy. It also conducts analyses on topics relating to the international environment, such as global trade and debt developments.

The ECB is an inclusive employer and we strive to reflect the diversity of the population we serve. We encourage you to apply, irrespective of your gender, gender identity, ethnicity, sexual orientation, age, religion, disability or other characteristics.

Your role

As a PhD trainee in one of the two divisions you will:
  • contribute to the analytical work by carrying out research projects in collaboration with staff members;
  • help to further develop quantitative tools and/or modelling infrastructure;
  • participate in projects that may provide an opportunity to write a paper for publication in the ECB’s Working Paper Series or academic journals;
  • gain relevant experience in policy-related tasks using analytical tools;
  • present the results of your research in internal seminars.

The position offers you excellent opportunities to be part of a team of highly qualified experts in the fields of international macroeconomics and international finance under the guidance of a mentor. You will be able to develop your potential and quickly contribute to the work of the Division to which you are assigned. You will be part of a multicultural team that strives for continuous innovation to make a positive impact on the lives of European citizens. 

Qualifications, experience and skills

  • at least two years of PhD studies in economics, finance or a closely related field ;
  • a sound knowledge of international macroeconomics, monetary economics and/or international finance, including financial markets;
  • an advanced command of MS Office, advanced knowledge of time series or panel econometrics, and familiarity with statistical/econometric software packages such as MATLAB, Python, R, Stata or EViews;
  • an advanced (C1) command of English and an intermediate (B1) command of at least one other official language of the EU, according to the Common European Framework of Reference for Languages.

You are curious and eager to learn, and want to further develop your ability to analyse complex information. You are keen to collaborate with others, pursue team goals and learn from other people’s diverse perspectives. You strive to know and anticipate stakeholder needs, and will signal any need for change and propose alternative solutions.

You are motivated to contribute to the ECB’s mission, to serve the citizens of the EU as a member of a public institution and to work with colleagues from all over Europe. You are motivated to be part of our team and to use your skills and competencies to achieve the objectives of this position.

Further information

PhD traineeship of between 3 and 12 months in total.

Application and selection process

You are requested to submit a project proposal (maximum of one page) in an area of international economics or finance. Please include your project proposal with your application by uploading it as a PDF file. Your proposal of a project that is both interesting and well-defined methodologically will be an essential part of the selection procedure.
Examples of relevant topics include:
  • issues related to commodities, foreign exchange developments and global financial stability risks;
  • issues related to the international monetary system, including the international role of currencies, the rise of digital currencies, global imbalances and equilibrium exchange rates;
  • issues related to global central bank policy, such as International Monetary Fund policies, monetary policy spillovers, financial globalisation, the global financial cycle, capital flow management, the global financial safety net and the global economic implications of climate change;
  • issues related to global trade developments, such as assessments of the impact of protectionist policies, the impact of trade-related uncertainty on the business cycle and the impact of global value chains on global economic developments; 
  • issues related to debt, such as optimal fiscal response, the impact of indebtedness on growth, stabilisation effects of fiscal stimulus and debt sustainability.

Examples of relevant methodologies include:
Structural VARs, local projections, macro-modelling techniques, DSGE models, panel data and instrumental variables estimation, factor models, big data methods and forecasting evaluation techniques.

The recruitment process for this position will include an online interview via WebEx or a telephone interview. 

For further information on how to join us, read more.