Transcript Position Details

Position Details
Traineeships in Directorate General Research
Reference
2016-038-TRA EXT
Function
The ECB’s Directorate General Research (DG/R) is seeking applications for its Student Research
Traineeship Programme to fill several positions in the following areas of technical expertise:
1) Macroeconometric modelling (dynamic stochastic general equilibrium (DSGE), semi-structural
models, vector autoregression (VAR);
2) Time-series analysis of macroeconomic and financial data;
3) Panel and cross-sectional analysis of microeconomic and financial data.
The programme is aimed at highly promising candidates, with a strong quantitative background and
an interest in policy-relevant and applied research, who are currently studying for or have recently
received a master’s degree in economics, statistics, finance, computer science, mathematics or a
related field. PhD students of the same subjects in their second or third year of studies are also
encouraged to apply.
Participants in the programme will have the opportunity to work with DG/R’s economists and
management, typically in the form of research assistance. They will support the economists in
academic research projects as well as in work of an operational nature, such as the preparation of
policy-related notes addressed to the ECB’s Executive Board.
The opportunity to work closely with DG/R research economists will allow the students to develop their
analytical skills and gain an insight into the ECB’s research activities and policy-making processes,
thereby exposing them to new ideas and stimuli for their future postgraduate studies.
All successful applicants will be entrusted with the following main tasks:
constructing and maintaining monetary, financial and economic databases;
presenting data in conjunction with basic economic and statistical analysis;
programming mathematical, statistical and econometric procedures for research projects;
supporting and maintaining software tools and hardware installations;
helping to maintain internet and intranet systems in DG/R.
According to their area of technical expertise, successful candidates will be entrusted with the
following more specific main tasks:
1) Macroeconometric modelling (DSGE, semi-structural models, VAR)
contributing to the development, solution and estimation of ECB models for projections and
policy simulation, mostly using MATLAB;
2) Time-series analysis of macroeconomic and financial data
compiling large time-series datasets, often with high-frequency data, and analysing them with
various techniques (i.e. VARs, Markov-switching models, state-space models);
3) Panel and cross-sectional analysis of microeconomic and financial data
compiling and analysing large microeconomic cross-sectional and panel datasets, mostly using
Stata or SAS).
Qualifications and experience
Applicants must have the following knowledge and competencies:
For all areas of technical expertise:
For graduate traineeships, at least one year of completed master’s studies in economics,
statistics, finance, computer science, mathematics or a related field;
For PhD traineeships, at least one year of completed PhD studies in one of the same subject
fields;
Familiarity with macroeconomic and financial statistics as contained in international databases
(e.g. ECB Statistical Data Warehouse (SDW), Eurostat, Bank for International Settlements
(BIS) statistics and International Monetary Fund (IMF) financial statistics);
Familiarity with at least some of the following databases/providers: Bloomberg, Datastream,
Haver Analytics, Bankscope, SNL Financial and Dealogic;
Familiarity with some microeconomic data, such as the Eurosystem Household Finance and
Consumption Survey, would be an asset;
A very good knowledge of spreadsheet and database programmes such as MS Excel, SAS,
Access and FAME and, in particular, Excel graphing capabilities, pivot tables and summary
statistical functions;
Proficiency in one or more standard econometrics packages, in particular MATLAB, Stata,
OxMetrics, RATS and GAUSS;
Advanced programming skills using Java, HTML, C++ or FORTRAN would be an asset.
For area of technical expertise (1) Macroeconometric modelling (DSGE, semi-structural models,
VAR):
A deep understanding of and experience with solution, estimation and forecasting methods for
structural and reduced-form models, including DSGE models, structural VAR, semi-structural
models, factor models and state-space/unobserved component models;
A very good knowledge of standard solution and econometric packages, MATLAB in particular,
is required. In addition, a good knowledge of Bayesian techniques and extensive knowledge of
Dynare and how to incorporate Dyanare programmes into bigger MATLAB programmes would
be an asset.
For area of technical expertise 2: Time-series analysis of macroeconomic and financial data:
Experience with large macroeconomic and financial databases (e.g. high-frequency data);
A very good knowledge of at least one mathematical and econometric package, such as
MATLAB, Stata or EViews, is required.
For area of technical expertise 3: Panel and cross-sectional analysis of microeconomic and financial
data:
Experience with large microeconomic databases (e.g. household or firm-level surveys, balance
sheet or administrative data). Familiarity with the Eurosystem Household Finance and
Consumer Survey or databases of bank-level information such as Bankscope would be an
asset;
A very good knowledge of standard econometric packages, Stata in particular, is required;
Experience with solution of heterogeneous agents models and/or with difference-in-difference
or propensity score matching estimators would be an asset.
Generic technical competencies:
an advanced-level command of English with proven drafting ability;
an intermediate-level command of at least one other official language of the EU;
a working knowledge of MS Office, in particular Word, Excel and PowerPoint.
Competencies
The successful candidate will have the following behavioural competencies:
has very good interpersonal and communication skills;
manages his/her own workload independently;
prioritises tasks and pays attention to detail, even when under time pressure;
manages multiple assignments and tracks progress on numerous processes simultaneously;
shares information and supports team members in the attainment of common goals.
Closing Date for Applications: 22.03.2016
Further Information
The traineeship will be in DG/R for an initial period of three to six months, with a possible extension up
to a total of 12 months depending on organisational needs and individual performance. Please
indicate your preferred total length of stay (between three and 12 months) and starting date in your
application. Applications from candidates who are available outside the summer months are
particularly welcome.
We are looking to fill several positions with potentially variable starting dates from April 2016 onwards.
To further enhance the diversity of its workforce, the ECB particularly encourages applications from
female candidates.
How to apply
Applications are to be made in English and submitted using our online application form. An
"Applicants' Guide" can be downloaded from our recruitment pages.
The recruitment process may include a pre-screening exercise and a telephone interview.
Before applying, applicants should check that they meet the conditions set out in Article 4 of the rules
governing the traineeship programme:
http://www.ecb.europa.eu/careers/pdf/traineeship_programme.pdf.
Further information on the ECB's traineeships can be found at
http://www.ecb.europa.eu/careers/newcomers/trainee/html/index.en.html.
Applicants are accepted from nationals of the Member States of the European Union.
The requirements laid down in the vacancy notice must be met by the closing date for applications.
This vacancy notice may be used to fill the same position again, or similar positions, within 12 months
of the selection decision.
The selection committee may place suitable candidates on a reserve list, from which candidates may
be appointed to similar positions in the same or another business area. It may also be decided to fill
the position(s) advertised in this vacancy notice with a suitable candidate or candidates from the
reserve list resulting from a recruitment procedure for a similar position. Candidates will be informed
accordingly if this happens.