TWO RESEARCH FELLOWSHIPS FOR MASTER’S STUDENTS

Instituto Superior de Economia e Gestão; Portugal; On-site; EUR 11,000 - 13,000; Full time

Benefits offered by this job

Stipend €1090.98 per month

Personal accident insurance

Voluntary social insurance coverage (1

Job summary

ISEG - Lisbon School of Economics and Management in Portugal seeks a First Stage Researcher for a three-to-six month fellowship in econometrics, macroeconomics, and monetary policy. The project is funded by FCT and supervised by Prof. Adriana Cornea-Madeira.

The fellow will work with data from international sources, implement LP-IV methods in R or MATLAB, and contribute to research outputs, reports, and policy-oriented economic research.

Qualifications

• Experience in data collection and data management.
• Knowledge of econometric analysis.
• Programming skills in R or MATLAB.
• Good written and spoken English.

Responsibilities

• Participate in a research project at the intersection of econometrics, macroeconomics, and monetary economics.
• Implement recently developed LP-IV methodologies and apply them to time series and panel data.
• Contribute to data collection, construction of monetary policy shock measures, and econometric analysis.
• Prepare reports, tables, and graphical outputs; participate in regular research meetings.

Skills

Data collection and data management

Econometric analysis

Programming in R or MATLAB

Good written and spoken English

Education

Bachelor Degree or equivalent

Tools

R

MATLAB

Job description

Organisation/Company Instituto Superior de Economia e Gestão Research Field Economics » Other Researcher Profile First Stage Researcher (R1) Positions Master Positions Application Deadline 27 Nov 2026 - 23:59 (Europe/London) Country Portugal Type of Contract Other Type of Contract Extra Information RESEARCH FELLOWSHIPS Job Status Full-time Hours Per Week 35 Offer Starting Date 1 Jan 2027 Is the job funded through the EU Research Framework Programme? Not funded by a EU programme Reference Number ISEG_7_BI_CLP-IV_2026 Is the Job related to staff position within a Research Infrastructure? No

Offer Description

This fellowship is funded by Fundaçao para a Ciência e a Tecnologia FCT, under R&D project Impulse response functions using local projections with instrumental variables with applications to macroeconomics 2024.17080.PEX of ISEG-Lisbon School of Economics and Management.

2. The fellowships will be awarded for three months and may be renewed up to a maximum of six months and during the eligibility of the project.

3. The fellowship will be supervised by Professor Adriana Cornea-Madeira

4. Fellowship Activities Plan:

The selected students will participate in a research project at the intersection of econometrics, macroeconomics, and monetary economics, with a particular focus on the empirical analysis of monetary policy transmission using state-of-the-art econometric methods.

The fellow will contribute to the implementation and application of recently developed methodologies for correcting autocorrelation and finite-sample bias in Local Projection Instrumental Variables (LP-IV) models for time series and panel data. These methods will be applied to several innovative empirical studies examining the dynamic effects of monetary policy shocks in the United States and the Eurozone.

The research activities will include:

• Data collection and management, involving the compilation, cleaning, and organization of macroeconomic and financial datasets from international institutions such as the Federal Reserve, the European Central Bank, Eurostat, the Bureau of Economic Analysis, and other public databases.
• Construction of monetary policy shock measures, based on recent methodologies proposed in the literature, particularly the approach developed by Bauer and Swanson (2023), adapted to both the US and European contexts.
• Econometric analysis of monetary policy transmission, studying the effects of monetary policy shocks on key macroeconomic variables, including real output, inflation, and credit indicators in the United States and the Eurozone.
• Estimation of impulse response functions (IRFs) using Local Projection methods with and without autocorrelation and bias corrections, allowing for comparisons across methodologies and contributing to the assessment of the importance of these corrections in empirical practice.
• Panel data analysis, including the study of the effects of monetary policy on disaggregated price indices, such as the subcomponents of the Personal Consumption Expenditures Price Index (PCEPI), and the extension of panel methodologies to more flexible frameworks allowing for heterogeneous responses across sectors or categories.
• Programming and computational implementation, using statistical software such as R or Matlab to conduct data analysis, estimate econometric models, and produce tables and graphical outputs.
• Participation in research activities, including regular meetings with the research team, discussion of empirical results, literature reviews, and the preparation of reports and research outputs.

The fellowship will provide the student with advanced training in applied econometrics, time series and panel data methods, macroeconomic analysis, and empirical monetary economics. The project offers an opportunity to contribute to frontier research with applications that are highly relevant for economic policy, while developing quantitative and programming skills that are valuable both in academia and in policy institutions such as central banks, international organizations, and research departments.

- document proving enrolment in the required program (if applicant is already enrolled);

- published papers or other materials relevant to the application.

The application and all documents can be written in Portuguese or English.

No document that should have been submitted in the application can be presented after the deadline specified in this notice.

Documents proving the possession of academic degrees and diplomas, or their recognition when awarded by foreign higher education institutions, can be waived at the application stage, being replaced by a declaration of honor from the applicant, with verification of this condition occurring only at the fellowship contract stage.

At the application stage, it will be sufficient for applicants to prove that they meet the necessary conditions to enroll in the study cycles leading to the attainment of the requested academic degree or in non-degree courses. At the contract stage, proof of enrollment will be required.

Requirements

Research Field Economics » Other Education Level Bachelor Degree or equivalent

Specific Requirements

Applicants should have:

• experience in data collection and data management;
• knowledge of econometric analysis;
• programming skills in R or MATLAB;
• good written and spoken English.

The fellowship holder must submit, within 60 weekdays after the end of the fellowship, an electronic final report, which includes the activities carried out and the results obtained, accompanied by the supervisor(s)'s evaluation of the final report

The final report will be evaluated by the supervisor according to the following criteria

• Quality of the work developed - 60%;
• Achieved results (working paper, code) - 30%;
• Integration and relational skills - 10%.

The criteria scores and the final score will be presented on a scale from 0 to 20.

Additional Information

The fellowship is carried out on an exclusive dedication basis (Art. 5 of the Research Fellowship Holder Statute).

Stipend in accordance to the Portuguese Science Foundation scale, €1090,98 per month (see table 2026 ), paid by bank transfer.

Personal Accident Insurance costs are supported by the institution, as well as the 1st level of Voluntary Social Insurance, if applicable and if the candidate chooses to have it allocated.

Eligibility criteria

The following applicants are eligible:

a) Portuguese citizens or citizens of other Member States of the European Union;

b) Citizens of other countries;

c) Stateless persons;

d) Political refugees.

Selection process

Selection criteria

The selection criteria, expressed on a scale from 0 to 20 points, are the following:

1. Curriculum Assessment (CA):

1.1. Academic Qualification or level of qualification certified by the competent authorities (weight: 50%);

1.2. Complementary Training (weight: 30%);

1.3. Professional Experience (weight: 10%);

1.4. Preferred Factors (weight: 10%);

2. Interview (I).

Final classification = CA (70%) + I (30%)

Candidates who obtain a score equal to or higher than 15 in the curriculum assessment will be invited to the interview, with all other candidates being excluded from the competition.

Candidates who, at the end of the entire assessment process, have been evaluated with less than 15 points will not be considered eligible for the fellowship.

Candidates with diplomas issued by foreign higher education institutions may apply and will be evaluated using the same criteria as applicants with diplomas issued by Portuguese institutions, if they present in their application proof of recognition of their academic degrees and the conversion of the final grade to the Portuguese grading scale in accordance with the applicable legislation.

Candidates with recognized foreign diplomas who do not present proof of the conversion of the final grade to the Portuguese grading scale or candidates who do not present a diploma (replaced by a declaration of honor) will be assessed with a minimum grade of 10 points in the criterion “1.1. Academic Qualifications”.

Chair: Professor Adriana Cornea-Madeira

Alternates: Professor Gabriel Zsurkis, Professor Pierre Hoonhout

Selected applicant(s) will be notified by email.

Additional comments

Applicants may submit queries or complaints about the decisions within a ten weekday period.

Final decisions must be announced within 90 weekdays of the application deadline and up to 60 weekdays after the end of the query and complaint deadline.

In case of non-acceptance by the selected applicant(s), the grant may be offered to any of the other ranked applicants within 18 months of the final announcement.