Student Research Assistant Traineeship Programme

General Information

Type of contract 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

Your team

You will be part of the Senior Management Macro-Finance team in the Directorate General Research. Our Directorate General has roughly 50 economists who carry out and coordinate economic research at the ECB. We cover topical issues such as macro-financial linkages and the interaction between monetary and financial stability policies. We publish articles in leading academic journals and in the ECB's own publications such as the Working Paper Series and the Research Bulletin. We also prepare policy notes and reports for internal and external use.

In your role as a Student Research Assistant trainee, you will be part of a team that conducts model-based analysis and policy-relevant research on monetary policy, macroprudential policy and financial stability. You will use and contribute to developing general equilibrium models (e.g. dynamic stochastic general equilibrium (DSGE) models) with financial intermediation to answer topical policy questions. These include questions such as 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 background in modelling and quantitative methods and an interest in policy-relevant applied research. You will work closely with your team and regularly interact with researchers across the entire Directorate General.

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:

• produce simulations using macro-finance models, including New Keynesian DSGE models with financial frictions;
• maintain and further develop existing quantitative tools and modelling infrastructure;
• further develop 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;
• help prepare quarterly policy analyses on monetary policy and financial stability.

The traineeship offers you the opportunity to work closely with our economists and management and contribute to research projects and operational work, such as preparing 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 expose you to new ideas and stimuli that will provide valuable experience for your future career. You will also have access to internal seminars and conferences organised by the ECB. This position is 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

Essential:

• for a traineeship paid at €2,120, a master's degree and at least two years of PhD studies in economics, finance, statistics, mathematics or computer science, or a related field;
• for a traineeship paid at €1,170, a bachelor's degree in economics, finance, statistics, mathematics, computer science or a related field;
• experience in simulating macroeconomic DSGE models using Dynare;
• strong programming skills in MATLAB;
• good understanding of macro-finance models;
• good knowledge of the MS Office package;
• advanced (C1) command of English and intermediate (B1) command of at least one other official language of the EU, according to the Common European Framework of Reference for Languages.

Desired:

• for a traineeship paid at €1,170, a master's degree in economics, finance, statistics, mathematics, computer science or a related field;
• sound knowledge of monetary DSGE models with financial frictions;
• good knowledge of model calibration/estimation techniques (Bayesian methods or the simulated method of moments) using macroeconomic, banking and financial data;
• knowledge of non-linear solution methods for dynamic models (e.g. perfect foresight transitions, function approximation, quadrature, numerical optimisation, higher order perturbation, value function iteration, continuous time methods, sequence space methods);
• further programming skills in addition to the above (e.g. Python, parallel computing, symbolic maths);
• some experience with macroeconomic data and macroeconometric models;
• experience assisting with research.

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

Initial traineeship/PhD traineeship of six months, with a possible extension of 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.