Economic Modeler, Monetary Technology/Research

About the Role & Team

Economic Modelers (EMs) in the Monetary Studies section participate in building, solving, estimating, calibrating, and simulating economic models.  EMs support the analysis of monetary policy strategies and communication by designing and executing model simulations of the U.S. economy using models such as the large-scale FRB/US model and a number of dynamic stochastic general equilibrium models.  EMs also contribute to the development of new models, algorithms, and software for analyzing a wide range of issues relevant to monetary policy.  Additionally, EMs contribute to research, policy memos, briefing documents, and presentations; assist economists with their modelling and computing needs; and contribute to the management of the section’s computing and modelling environment. 

The Monetary Studies section comprises ten economists, three research assistants, and two EMs.  Applicants should also have strong interpersonal skills, including the ability to work constructively with a diverse set of colleagues, both within and outside the section.  Applicants must be able to assimilate advanced technical materials independently to develop the skills and familiarity necessary to support the section’s computing environment and to diagnose and resolve issues related to application implementation and economic data.  Applicants should have the ability to oversee a variety of activities related to information systems and data management while responding quickly to the needs of supervisors and colleagues. 

Qualifications

The position requires at least foundational knowledge of economic/financial principles and good economic intuition as well as solid knowledge of scientific computing, data management, software support, automation, and/or application development.  Coursework in economics, statistics, mathematics or related experience is preferred, along with familiarity with one or more programming languages used for scientific computing (for example, Matlab, R, or Python).  Coursework or relevant experience in software development, database design and management, computing clusters, and web development is an advantage.  At a minimum, the applicant must have technical expertise in Linux environment or Microsoft Windows environment.  Successful applicants will typically have familiarity with at least one compiled language (for example, Fortran or C++).  Candidates must be able to work effectively with staff at all levels and be willing to develop knowledge of academic literature topics related to job responsibilities, including economic modeling.

To be considered for the

• FR-24 (Economic Modeler II), at least three years of relevant work experience and a bachelor’s degree in economics, computer science, or related field are required.
• FR-25 (Economic Modeler III), at least four years of relevant work experience and a bachelor’s degree in economics, computer science, or related field are required.
• FR-26 (Sr. Economic Modeler I), at least five years of relevant work experience and a bachelor’s degree in economics, computer science, or related field are required.