Student Research Assistant Traineeship Programme – Senior Management Macro-Finance Team

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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 €1,170 per month plus an accommodation allowance (see further information section), 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 14.12.2023

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 analysis 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 existing quantitative tools and modelling infrastructure;
  • contribute to the development of macroeconomic DSGE 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 to 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 a key experience for your future career. In particular, you will have access to internal seminars and conferences organised by the ECB. This position provides an excellent 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

  • for a PhD traineeship paid at €1,940, a master’s degree and at least two years of PhD studies in economics, statistics, finance, computer science or a related field;
  • for a traineeship paid at €1,070, a bachelor’s degree or higher in economics, statistics, finance, computer science or a related field;
  • experience with the solution and simulation of macroeconomic DSGE models, also incorporating a role for financial frictions;
  • 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 package;
  • 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.

  • for a traineeship paid at €1,070, a master’s degree or a period of study towards a master’s degree in economics, statistics, finance, computer science, or a related field;
  • sound knowledge of DSGE models with financial frictions and monetary policy formulations;
  • good knowledge of model calibration or estimation techniques (Bayesian methods or 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 solutions methods);
  • some experience in working with macro-data and macroeconometric models; 
  • experience of 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

Traineeship/PhD traineeship of six months, with a possible extension up to 12 months in total. 

Other details on the conditions applicable to traineeships at the ECB can be found on our website.

Application and selection process

The recruitment process for this position will include an online interview. 

Further information on how to apply is available on our website.

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 other traineeship positions within the ECB.