PhD Student Research Assistant Traineeship – Research Task Force on Heterogeneity in Macroeconomics and Finance

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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)

Working time Full time

Place of work Frankfurt am Main, Germany

Closing date 19.12.2023

Your team

You will be part of the Directorate General Research. Our Directorate has 60 staff carrying out and coordinating economic research on monetary policy, financial stability, and the ECB’s banking supervision and regulatory activities. We are currently working on analysis exploring how quickly monetary policy measures are transmitted to different groups of households, firms and banks. Our work also examines the implications of quantitative tightening, for both the real economy and the banking/financial sector.

In your role as a PhD Student Research Assistant trainee, you will support the ECB’s new Research Task Force on Heterogeneity in Macroeconomics and Finance. The task force has been set up to help further our understanding of (i) how heterogeneity across households, firms and banks shapes the transmission of policy measures; and (ii) the uneven effects that policy measures have on different groups of economic agents. You will work closely with your colleagues in the Directorate General Research and also with economists in the Directorate General Economics and the Directorate General Monetary Policy.

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 PhD Student Research Assistant trainee, you will:
  • develop mathematical, statistical and econometric procedures for research projects;
  • support and maintain software tools and hardware installations;
  • present data and results in conjunction with basic economic and statistical analysis.

The position offers you excellent opportunities to work closely with our research economists. You will support them in academic research projects and operational tasks, such as preparing policy-related notes for the ECB’s Executive Board. The position will also give you access to new ideas and experiences that will provide a useful foundation for your future career. 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 master’s degree and at least two years of PhD studies in economics, statistics, finance, computer science, mathematics or a related field;
  • an excellent command of MATLAB, Python or R;
  • familiarity with one or more of the following research techniques: solving heterogeneous agent models, solving non-linear models with occasionally binding constraints or inaction regions, Bayesian estimation of dynamic stochastic general equilibrium models, sequential Monte Carlo methods, panel data analysis of microdata and machine learning algorithms;
  • 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.

  • familiarity with one or more of the following databases/data providers: Bureau van Dijk, S&P Global Market Intelligence (formerly SNL Financial) and the Household Finance and Consumption Survey (HFCS).

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 between 6 and 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.