The Divisions of International Finance, Monetary Affairs, Research and Statistics, and the Office of Financial Stability Policy and Research offer paid in-residence fellowships for graduate students to conduct research at the Federal Reserve Board.
Positions are offered in the spring, summer, and fall.
Dissertation fellows work on a topic of their own choosing, usually furthering dissertation research begun before the fellowship. Preference is given to Ph.D. candidates whose topics are in macroeconomics (broadly defined), international economics, finance, banking, and econometrics. Applications are also welcome from students working in other fields of economics.
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Send the following application material by e-mail to DissertationFellows@frb.gov:
Because of its many responsibilities, the Board has broad research interests. Accordingly, we are interested in dissertation topics such as macroeconomics, labor, monetary policy, international trade and finance, banking (including regulatory issues), finance, and econometrics.
We find that fourth and fifth year students gain the most from this type of fellowship. Occasionally, a third year student is far enough along on his or her dissertation to gain the benefit of the program.
No. However, candidates must be legally authorized to work in the United States.
Yes. The number of applications for summer fellowships far exceeds the number of available positions. Because fewer students are available for fall and spring fellowships, the chances of being contacted for a fellowship are greater for those sessions.
Only selected candidates are contacted. Questions regarding application status may be directed to the committee at DissertationFellows@frb.gov.
We prefer that all application material is sent by e-mail to DissertationFellows@frb.gov. Students should send a vita, work from the thesis, and an unofficial copy of the most recent transcript. Professors should send recommendation letters by e-mail.
Yes. Fellows work regular hours at the Board from Monday through Friday. Flexibility is given for visits back to the university as needed, although the Board does not pay for travel expenses.
Generally, six to eight fellowships are granted for the summer and three or four for the fall. Only one or two fellows are usually hired for the spring session.
Fellowships can last from a minimum of 12 weeks to a maximum of 15 weeks.
Fellows are required to make one or two presentations during their stay, with the first one occurring early in the fellowship.