PhD Traineeship in the Directorate General Monetary Policy at European Central Bank

You will be part of the Directorate General Monetary Policy and your traineeship will be either at the Directorate General level, where you will support the senior management team, or in one of the following two divisions.

The Capital Markets and Financial Structure Division analyses financial markets from a monetary policy perspective. The Division assesses the non-bank transmission of monetary policy, covering the term structure of interest rates; the sovereign bond, corporate bond and stock markets; and the financing structure of non-financial corporations. It helps to prepare decisions on the ECB’s policy measures and analyses the impact of those decisions on financial markets using quantitative models. It contributes to internal reports and external publications.

The Monetary Policy Strategy Division analyses the ECB’s monetary policy stance and longer-term strategic issues. It helps to prepare decisions on monetary policy measures and provides input into monetary policy communications. It also develops models and tools for analysing euro area money markets and the impact of monetary policy instruments on financial conditions and the wider economy. Moreover, it contributes to research on a digital euro and on climate change.