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)
Working time
Full time
Place of work
Frankfurt am Main, Germany
Closing date
12.01.2023
Your team
You will be part of the Senior Management Macro-Finance team in the Directorate General Research, which carries out and coordinates economic research at the ECB.
In your role as a Student Research Assistant trainee, you will be part of a team that conducts policy-relevant research and model-based analyses of monetary policy, macroprudential policy and financial stability. You will contribute to the development and use of general equilibrium models (e.g. dynamic stochastic general equilibrium (DSGE)) with financial intermediation to answer topical policy questions concerning, for example, the effects of monetary policy and macroprudential policy on financial stability and the interactions between different policy instruments.
The Student Research Assistant Traineeship Programme is aimed at students with a strong quantitative background and an interest in policy-relevant applied research. In addition to working closely with your team, you will have the opportunity to interact with researchers from the entire Directorate General on a regular basis.
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 Student Research Assistant trainee you will:
- solve and/or estimate macro-finance models, including New Keynesian DSGE models with financial frictions;
- maintain and further develop the existing quantitative tools and modelling infrastructure;
- contribute to the development of general equilibrium models to assess macroprudential and monetary policy interactions and their effectiveness;
- develop macroeconometric models to empirically assess the propagation of economic and financial shocks;
- contribute to the preparation of quarterly policy analyses for monetary policy and financial stability.
The position offers you the opportunity to work closely with our economists and management and support them in academic research projects and operational work, such as the preparation of policy-related analyses for the ECB’s Executive Board. This will enable you to develop your analytical abilities, enhance your quantitative skills and gain an insight into the ECB’s research activities and policymaking processes.
The programme will also expose you to new ideas and stimuli that can provide valuable experience for your future career. In particular, you will have access to internal seminars and conferences organised by the ECB. This position provides a great opportunity to engage with topical policy and research questions and learn how high-level academic research can be applied to policymaking. 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
Essential:
- a master’s degree and at least two years of PhD studies in the field of economics, econometrics, finance or a related field;
- experience with the solution and simulation of macroeconomic models;
- a sound understanding of the economic issues covered by the team;
- strong programming skills, especially in MATLAB and Dynare;
- a good knowledge of the MS Office suite;
- 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.
Desired:
- sound knowledge of New Keynesian DSGE models with banks and financial frictions;
- some knowledge of model calibration or estimation techniques (Bayesian methods or the simulated method of moments) based on macroeconomic, banking and financial data;
- some knowledge of non-linear solution methods (e.g. occasionally binding constraints, higher order perturbations or global solution methods);
- some experience in working with macro data and macroeconometric models (e.g. VAR, BVAR and local projections);
- experience in providing research assistance.
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 keen to be part of our team and to use your skills and competencies to achieve the aims of this position.
Further information
PhD traineeship of six months, with a possible extension up to twelve months in total.
Application and selection process
Further information on
how to apply is available on our website.
The recruitment process for this position will include an online interview.
If you are not selected for this position but are still considered suitable, you will be placed on a reserve list for 12 months from the closing date for applications, from which you might be considered for similar positions within the ECB.
