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

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

Apply to the Student Research Assistant Traineeship Programme – Senior Management Macro‑Finance Team at European Central Bank.

General Information

• Type of contract: Traineeship
• Who can apply: EU nationals eligible for the traineeship programme
• Grant: €1,170 per month plus an accommodation allowance, or €2,120 per month plus an accommodation allowance (see further information)
• Working time: Full time
• Place of work: Frankfurt am Main, Germany
• Closing date:

Your team

We are part of the Senior Management Macro‑Finance team in the Directorate General Research. Our team of roughly 50 economists conducts and coordinates economic research, publishing in leading academic journals and ECB publications such as the Working Paper Series and the Research Bulletin. They also prepare policy notes and reports for internal and external use.

In this role you will conduct model‑based analysis and policy‑relevant research on monetary policy, macroprudential policy, and financial stability. You will use and contribute to general equilibrium models (e.g., dynamic stochastic general equilibrium (DSGE) models with financial intermediation) to answer topical policy questions.

Your role

• 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 the opportunity to work closely with our economists and management, contributing to research projects and operational work such as preparing policy‑related analyses for the ECB’s Executive Board. It will help you develop analytical abilities, enhance quantitative skills, and gain insight into the ECB’s research activities and policymaking processes.

Your training will be supplemented by internal seminars and conferences, providing valuable experience for your future career.

Qualifications, Experience and Skills – Essential

• Master’s degree and at least two years of PhD studies in economics, finance, statistics, mathematics or computer science (for the €2,120 grant);
• Bachelor’s degree in economics, finance, statistics, mathematics, computer science or a related field (for the €1,170 grant);
• 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 EU language, according to the Common European Framework of Reference for Languages.

Qualifications, Experience and Skills – Desired

• Master’s degree in economics, finance, statistics, mathematics, computer science or a related field (for the €1,170 grant);
• 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, eager to learn, collaborative, and keen to anticipate stakeholder needs. You are motivated to contribute to the ECB’s mission and serve EU citizens as part of a public institution.

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 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.

Diversity and Inclusion

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.