Senior Economists - Forecasting and Policy Modelling

Analysis and Policy Advice
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General Information

Type of contract Fixed-term contract which may be converted into a permanent contract after three years subject to individual performance and organisational needs

Who can apply? EU nationals

Salary F/G (bracket 2 - step 1) full time monthly net salary: €5,758 plus benefits, for further information see what we offer.

Working time Full time

Place of work Frankfurt am Main, Germany

Closing date 04.12.2022

Your team

We are seeking economists who have recently completed, or are close to completing, a PhD in economics or finance. You will be part of the Forecasting and Policy Modelling Division in the Directorate General Economics.

With around 350 staff, the Directorate General Economics analyses, models and forecasts economic developments and policies. As well as analytical studies, reports and policy positions, it produces publications such as the ECB’s Economic Bulletin and Occasional Paper Series. The Directorate General provides advice to the ECB’s decision-making bodies on monetary policy and prepares and coordinates the ECB’s and Eurosystem’s staff macroeconomic projection processes. It also contributes to the debate on further deepening Economic and Monetary Union and represents the ECB in various European and international fora.

The Forecasting and Policy Modelling Division has 24 members of staff and is responsible for the forecasting and policy models used at the ECB for the preparation of monetary policy. We develop and maintain euro area and large-country models for projections and policy simulations. This also involves handling the data, software and IT solutions needed to deliver efficient, user-friendly infrastructure for the policy process.

Our research and model-based analysis contributes to the ECB’s and Eurosystem’s macroeconomic projections and the preparation of Governing Council meetings more generally. We also investigate structural issues of relevance for monetary policy. Current projects include integrating climate considerations into our models, examining the heterogeneity of consumers and firms, using machine learning and non-linear models to forecast inflation, and looking into expectation formation in structural and semi-structural models.

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 age, disability, ethnicity, gender, gender identity, race, religious beliefs, sexual orientation or other characteristics.

Your role

As a Senior Economist you will:
  • conduct high-quality research with the aim of publishing it internally and externally;
  • plan and steer projects to strengthen the analytical framework and tools used by the division;
  • provide research-based policy advice and analysis;
  • develop new modelling tools for monetary policy preparation and maintain existing tools;
  • work closely with the Division’s management on identifying and engaging with opportunities and challenges ahead;
  • establish and maintain productive working relationships with internal and external counterparts and contribute to various fora (e.g. the Eurosystem’s Monetary Policy Committee, as well as working groups, research conferences and networks).

We are seeking candidates for these roles who demonstrate the potential for growth, and we will support the selected candidates in their future development of the required knowledge, skills or competencies.

These positions provide excellent opportunities to join a dynamic and experienced team, to develop and use advanced macroeconomic modelling tools, to contribute to monetary policy and to learn from leading experts. Ours is a stimulating, receptive environment in which you can apply your research to monetary policy preparation. We also provide access to research assistance, top computing facilities and extensive data, as well as the opportunity to interact with consultants and attend workshops and seminars in several areas. 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

  • a PhD in economics, finance or another relevant field, or you must be close to completing a PhD in one of these fields (see How you can join us for details on degree equivalences);
  • research papers to the standard of high-quality peer-reviewed academic journals in the areas of macroeconomics, macroeconometrics, or forecasting methods and practice;
  • sound analytical and quantitative skills, and the ability to develop and use models and tools that constitute best practice according to recent academic developments;
  • excellent presentation and communication skills;
  • 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.

  • if you received your PhD more than three years ago, a publication record in line with your seniority, comprising papers published in high-quality peer-reviewed academic journals.

You engage collaboratively with others. You pursue team goals and learn willingly from other people’s diverse perspectives. You signal any need for change by explaining it and proposing alternative solutions. You analyse complex information effectively and can evaluate different views to arrive at solutions. You know and anticipate stakeholder needs.

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 develop and use your skills and competencies to achieve the aims of this position.

Working modalities

We offer internationally competitive salaries and allowances. Taxes on salaries, allowances and benefits are paid to the European Communities instead of the national tax authorities. These positions are allocated to salary band F/G, bracket 2 (see What we offer, including the net salary table).

We would be happy to discuss a part-time arrangement for this role.

Application and selection process

When submitting your application, you will be asked to provide us with your research paper and two referees. 

The recruitment process for these positions will include a short online interview in the pre-selection phase between 12 and 14 December 2022 and – if you are invited to participate in the subsequent selection phase – a seminar, in which you will present a research paper and answer questions on the topic. Seminars and interviews for these positions will take place from 9 January 2023. 

If you are not selected for this position but are still considered suitable, you will be placed on a reserve list (see step 4 of How we hire), from which you might be considered for similar positions within the ECB.
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