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Ny Fed Dissertation Internship Report

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.

ProgramApplication DeadlineTypical Tenure
SummerMarch 15June-September
FallJune 15September-December
SpringNovember 15March-May

Program Coordinators

  • John Rogers (International Finance)
  • Steve Sharpe (Research and Statistics)
  • Egon Zakrajsek (Monetary Affairs)
  • Mike Kiley (Office of Financial Stability Policy and Research)

To Apply

Send the following application material by e-mail to

  • vita
  • work from the thesis
  • transcript of graduate work
  • two letters of reference

Dissertation Fellowships Frequently Asked Questions

  1. What types of dissertation topics are of interest to the Board?

    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.

  2. In what stage should my dissertation be to maximize my chances of acceptance?

    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.

  3. Do I have to be a U.S. citizen to apply to the dissertation fellowship program?

    No. However, candidates must be legally authorized to work in the United States.

  4. Should I indicate my interest in the fall and spring sessions even though my primary interest is in the summer session?

    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.

  5. Will someone notify me about the status of my application?

    Only selected candidates are contacted. Questions regarding application status may be directed to the committee at

  6. Should I send my application material to the Board by mail, fax, or e-mail?

    We prefer that all application material is sent by e-mail to 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.

  7. Do I need to reside in Washington, D.C., during my fellowship?

    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.

  8. How many fellows are hired per session?

    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.

  9. How long do fellowships last?

    Fellowships can last from a minimum of 12 weeks to a maximum of 15 weeks.

  10. In addition to furthering dissertation research, are there other requirements during the fellowship?

    Fellows are required to make one or two presentations during their stay, with the first one occurring early in the fellowship.


Junior Research Economists

The Research Division of the Federal Reserve Bank of St. Louis is seeking junior research economists (those with less than 5 years of post-PhD experience). The primary responsibilities include publishing in leading professional journals, maintaining an active research agenda, and providing analysis on monetary and other policy issues. The Division enjoys a strong international reputation and offers an outstanding research environment along with competitive salary and benefits.

A Ph.D. in Economics is required by the end of 2018. Candidates must demonstrate a potential for outstanding scholarly achievement.

Applications must be submitted online at All applicants should submit their curriculum vitae and samples of research and should also arrange for three letters of recommendation to be submitted online. We will begin reviewing applicants immediately and continuously until the positions are filled.

Senior Research Economists

The Research Division of the Federal Reserve Bank of St. Louis is seeking experienced research economists. The primary responsibilities include publishing in leading professional journals, maintaining an active research agenda, and providing advice on monetary and other policy issues. The Division enjoys a strong international reputation and offers an outstanding research environment along with competitive salary and benefits.

A Ph.D. in Economics is required. Candidates must have an outstanding record of scholarly achievement and at least 5 years of post-Ph.D. experience. All applicants should send their curriculum vitae and samples of research to We will begin reviewing applicants immediately and continuously until the positions are filled.

Dissertation Internships

The Research Division of the Federal Reserve Bank of St. Louis offers dissertation internships to Ph.D. students in economics. The internship targets students with strong research interest.

The purpose of the internship program is to increase the students’ experience and exposure to scholarly research. Students are expected to make progress on their dissertation while at the Bank and are expected to make one formal presentation during their stay.  The students will be expected to interact with the research economists at the Bank as well as visiting Washington University faculty, various other visiting scholars, and other dissertation interns.

The period of the internship is flexible; however, students will be expected to be in residence for 3 to 5 weeks, beginning no earlier than July 23, 2018, ending on or before August 31, 2018, and including the week of August 6, 2018. The internships carry a stipend that should cover most of the student's living expenses for their time in St. Louis, but the interns will directly pay their own living expenses.

Applications are open to Ph.D. students from all Ph.D.-granting colleges and universities. Applicants must have passed their qualifying examinations and must be at the dissertation stage of their program.

To apply, applicants must complete both of the following steps: 

  1. Complete the online application for the dissertation intern position at To this application, the following documents must be uploaded in PDF or Word format:
    • cover letter
    • curriculum vitae
    • dissertation proposal
  2. A letter from the principal academic advisor commenting on the applicant's potential for producing a high-quality dissertation, the importance of the topic to the profession, and the progress that has been made to date must be emailed to

We are currently accepting applications for the 2018 positions. The application deadline is March 18, 2018.

Research Associates 

We have completed our recruiting process for positions starting in the Spring/Summer 2018. Recruiting for positions starting in 2019 will begin in August 2018.

Other Federal Reserve Banks and the Board of Governors may have open RA positions, to find out more information visit:

For other open positions at the St. Louis Fed visit:

Research Internships

Recruiting for 2018 positions is complete.  Recruiting for 2019 positions will begin in late summer of 2018.

The Federal Reserve Bank of St. Louis has a summer internship program that allows you the opportunity to learn about economics in the United States through the perspective of the Federal Reserve System. We begin accepting applications for the following summer in September, hold interviews in October and November, and extend offers on a rolling basis.

About the program

The program consists of:

  • Direct exposure to bank operations
  • Valuable work experience in public service
  • Developmental workshops
  • Q&A sessions with senior leaders
  • Departmental information and networking sessions
  • Mentoring program
  • Structured capstone experience

There are opportunities for undergraduate students who possess strong interpersonal, analytical, communication, and organizational skills with a solid work ethic and strong motivation to learn.

Available positions

Internships are available in multiple areas within the Research Division.


  • Review online learning modules for ease of use and relevance to audience.
  • Work with video closed captioning and website tagging processes.
  • Work with staff to produce economic education content.
  • Assist staff with summer programs and email outreach for educators.
  • Support various website development initiatives.
  • Click here for more information about this group.


  • Expand categorization scheme for our published content: Identify common themes and propose logical connections between our published work and related (FRED) data series and other Research content.
  • Tag published economic content to aid content management.
  • Craft summaries of our published work, including possible mini-abstracts for the newsletter and compilations of various content that analyze common topics/themes.
  • Give feedback on online content related to ease of use, ease of reading, and relevance to audience.
  • Support some steps in the pre-press editorial/production process, especially proofreading.
  • Click here for more information about this group.


  • Research data sources and methodologies of macroeconomic data series.
  • Compile anecdotal information from business contacts in the 8th district.
  • Create charts and tables of economic indicators.
  • Conduct statistical and econometric data analysis in programs such as STATA, Matlab, and R.
  • Write summary reports on methodology and results.
  • Click here for more information about this group.


  • Process a digitization project, including scanning, image editing, and metadata creation.
  • Complete an internal project to add to FRASER’s efficient and effective operations. Potential projects include:
  • Investigate FRASER collection for images to use for visual marketing.
  • Evaluate and make suggestions to FRASER’s existing education page.
  • Identify historical legislation relating to the Federal Reserve, banking, and economics to be added to FRASER.
  • Create a timeline of resources for a topic relevant to FRASER materials.
  • Write short articles for Inside FRASER and FRED Blog highlighting FRASER content.
  • Click here for more information about this group.


  • Develop Python scripts to automate the FRED data and metadata updates.
  • Evaluate existing series against the source website documentation for further metadata clarification.
  • Document metadata changes and process.
  • Learn agile development best practices.
  • Click here for more information about this group.


  • Work with Scrum master in our agile environment.
  • Attend sprint planning sessions.
  • Attend SCRUMs, assist in removing impediments for team.
  • Facilitate backlog grooming sessions.
  • Assist in automation of various processes.
  • Work with SharePoint and Nintex workflow.
  • Support various website development initiatives.


  • Must have a 3.5+ overall GPA
  • Rising college junior or senior
  • Candidate for Bachelor’s degree in Economics, Business (finance or information systems emphasis), or related field.
  • Candidates with a demonstrated interest and strong proficiency in (a) English/journalism/creative writing, (b) computer science, or (c) math/statistics are strongly preferred.
  • All positions require excellent Excel, Word, and Adobe Acrobat skills. Other software requirements are noted within the descriptions above.
  • Interest in monetary policy, macroeconomics, and macroeconomic and banking data is a must.

How to Apply

The Federal Reserve Bank of St. Louis is an Equal Opportunity Employer.