PhD internship program
Norges Bank’s PhD internship program is directed toward PhD-students who are specializing within macroeconomics, econometrics, banking or finance. Internships will normally last three months. Interns are expected to collaborate closely with other researchers at Norges Bank, with the aim to pursue a project until publication in an international academic journal.
Candidates should be beyond the stage of first year PhD studies and should not be on the job market in the near future. Selection for internship positions will be based on a research statement of 2 pages, as well as CV and drafts of ongoing research. The research statement serves to ensure that the research interests of selected candidates align with the interests of Norges Bank.
During their stay, interns are expected to give at least one seminar, and to interact with both policy staff and fellow researchers. Co-authorship with Norges Bank staff is strongly encouraged. Within one year of starting the internship, the internship project should result in a Norges Bank Working Paper.
Accepted interns will have their travel costs to Norway covered, and receive a salary that covers accommodation and other costs of living in Norway.
Applications are submitted electronically through EconJobMarket.
Note that this a non-summer internship: interns are expected to be employed over the spring period (until mid june) or over the fall (after mid august).
Since 2012, twentyseven projects have been started.
- Nikola Mirkov (St Gallen University): Announcements of Interest Rate Forecasts: Do Policymakers Stick to Them?, (2016), joint with Gisle J. Natvik, Norges Bank Working Paper 2013/11. Journal of Money, Credit and Banking 48, 901-920.
- Sergio Sola (Geneva University): Economic Uncertainty and the Influence of Monetary Policy, (2017), joint with Knut Are Aastveit and Gisle J. Natvik Norges Bank Working Paper 2013/17. Journal of International Money and Finance 76, 50-67.
- Antoine Lepetit (Paris School of Economics): Labor Supply Factors and Economic Fluctuations, (2018), joint with Claudia Foroni and Francesco Furlanetto. Norges Bank Working Paper 2015/7. International Economic Review 59, 1491-1510.
- Barbara Sadaba (Erasmus University Rotterdam). Assessing the Predictability Ability of Sovereign Default Risk on Exchange Rates Returns, joint with Claudia Foroni and Francesco Ravazzolo. Bank of Canada Working Paper 2017/19. Journal of International Money and Finance 81, 242-264.
- Marzie Taheri Sanjani (London Business School). Output Gap, Monetary Policy Trade-offs and Financial Frictions (2021), joint with Francesco Furlanetto and Paolo Gelain, Norges Bank Working Paper 2017/8. Review of Economic Dynamics 41, 52-70.
- Nicoló Maffei Faccioli (Universitat Autonoma Barcelona): The decline of the labor share: new empirical evidence, joint with Drago Bergholt and Francesco Furlanetto. Norges Bank Working Paper 2019/18. American Economic Journal: Macroeconomics, vol 14., no. 3, July 2022.
- Francesca Loria (European University Institute). Has the Fed responded to stock prices and House Prices? A Time-Varying Analysis, joint work with Knut Are Aastveit and Francesco Furlanetto. Norges Bank Working Paper 2017/1. Review of Economics and Statistics, forthcoming.
- Bruno Albuquerque (University of Ghent): Changing supply elasticities and regional housing booms, joint with Knut Are Aastveit and André Anundsen. Norges Bank Working paper 2019/8. Journal of Money Credit and Banking, forthcoming.
Papers at the second round:
- Pinho Ribeiro (University of Glasgow): Forecasting commodity currencies: the role of fundamentals with short-lived predictive content, joint with Claudia Foroni and Francesco Ravazzolo. Norges Bank Working Paper 2015/14.
- Juan Carlos Parra-Alvarez (Aarhus University): Time-varying disaster risk models: an empirical assessment of the Rietz-Barro hypothesis, joint with Alfonso Irarrazabal. CREATES Research Paper 2015-08.
- Rustam Jamilov (London Business School): Granular Credit Risk, joint with Sigurd Galaasen, Ragnar Juelsrud and Helene Rey. CEPR Working Paper
- Talina Sondershaus (Halle Institute for Economic Research- IWH): Covered bonds and banks portfolio rebalancing, joint project with Jin Cao and Ragnar Juelsrud. Norges Bank Working Paper 6/2021
- Gazi Kabaş (University of Zürich): Household Leverage and Labor Market Outcomes: Evidence from a Macroprudential Mortgage Restriction, joint with Kasper Roszbach. Norges Bank Working Paper 14/2021
Work in progress:
- Patrick Moran (University of Oxford): The Importance of Optimism: How do Housing Experiences Impact Housing Choices, Joint with Knut Are Aastveit and André Anundsen.
- Etienne Vaccaro Grange (University of Aix-Marseille): The death and resurrection of the Phillips curve, joint with Drago Bergholt and Francesco Furlanetto.
- Giulia Mantoan (Warwick Business School): Quantile density combination: An application to US GDP forecasts, joint with Knut Are Aastveit and Saskia ter Ellen.
- Luca Fosso (University of Pavia): The Macroeconomic Implications of the Gender Revolution, joint with Drago Bergholt and Francesco Furlanetto.
- Tobias König (DIW Berlin): Firm Heterogeneity and Monetary Transmission: The Importance of Liquidity, joint with Jin Cao, Torje Hegna, Martin B. Holm, Ragnar Enger Juelsrud and Mikkel Riiser.
- Greta Meggiorini (University of California Irvine): Fed Sentiment and Expectations: Evidence from Speeches by FOMC Members, joint with Eleonora Granziera and Vegard Larsen.
- Akash Raja (London School of Economics): Five facts abour the dynamics of stock market participation, joint with Sigurd Galaasen.
- Chloe Larkou (EUI): Monetary policy and portfolio rebelancing, joint with Hamid Boustanifar, Saskia ter Ellen, Andrea Vedolin and Dan Zhang.
- Pierre Dubuis (University of Zürich): Relationship lending and monetary policy pass-through, joint with Jin Cao and Karolis Liaudinskas.
Interns in 2022:
- Lorenzo Mori (University of Padova)
- Francois Miguet (New York University)
- Laura Pagenhardt (Humboldt University)
- Jesper Bojeryd (UCLA)
- Thomas Siemsen (Ludwig-Maximilians University): Stress Testing in a Structural Model of Bank Behavior, joint with Dean Corbae, Pablo D'Erasmo, Sigurd Galaasen and Alfonso Irarrazabal.
- Rosen Valchev (Duke University): A structural estimation of a heterogeneous information model of exchange rates, joint with Alfonso Irarrazabal and Dagfinn Rime.
- Jiaxiong Yao (Johns Hopkins University): Dissecting the Dynamics of Debt and Savings, joint with Andreas Fagereng and Gisle J. Natvik.
- Cornelia Rösler (University of Zürich): Distribution and pricing of central bank liquidity, joint with Farooq Akram, Kjell G. Nyborg and Dagfinn Rime.
- Roxana Mihet (Stern School of Business, New York University): Information Contagion through Central Bank Network, joint with Jin Cao.
- Benjamin Beckers (DIW Berlin): Removing the Property Ladder? The Effect of Loan-to-Value Limits on the Housing Market, joint with Knut Are Aastveit, André Anundsen and Kjersti Næss Torstensen.
- Meng Xie (Duke University): On-line Inference for Macroeconomic Forecasting, joint with Knut Are Aastveit and Leif Anders Thorsrud.
- Ingomar Krohn (Warwick Business School): Currency Jumps in the Post Financial Crisis Era, joint with Saskia ter Ellen.