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Lamfalussy Research Fellowship - Call for projects

The European Central Bank (ECB) is seeking applications from promising young researchers for up to five Lamfalussy Fellowships in 2024. The Lamfalussy Fellowship programme was launched in 2003 and aims to promote high-quality research on the structure, integration and performance of the European financial system. The programme is named after the late Baron Alexandre Lamfalussy, the first President of the European Monetary Institute. Each fellowship is endowed with an honorarium of €10,000. The selection committee will be composed of Angela Maddaloni (ECB), Simone Manganelli (ECB), Loriana Pelizzon (Goethe University Frankfurt), Ivan Petrella (Warwick Business School), Veronica Rappoport (LSE) and Dominik Thaler (ECB).

Research projects

Submission deadline: 15 March 2024

Successful candidates will be required to write a research paper over the course of 2024 in one of the following areas, with an explicit focus on the Euro Area:

(i) Financial stability
  • a. Financial stability implications of high inflation and the ensuing monetary policy response, in particular through its impact on the balance sheets of banks and non-banks and through its effect on sovereign finances
  • b. Financial stability implications of central bank balance sheet policy
  • c. The growing role of market-based finance in the European financial system
  • d. Systemic risk, liquidity and macroprudential regulation
(ii) Financial Integration
  • a. Financial market integration, monetary policy and financial regulation
  • b. Financial market integration and the Capital Market Union
  • c. Implications for vulnerability and cost of funding of financial institutions
(iii) The transmission of monetary policy through the financial system
  • a. Determinants of the strength, speed and heterogeneity of the transmission mechanism
  • b. The central bank balance sheet in the short and in the long run, and its impact on financial markets
  • c. The role of non-bank financial intermediaries and market-based finance

Lamfalussy Fellows are expected to present their papers at relevant ECB conferences and, ultimately, to have them published in the ECB Working Paper Series and in leading peer reviewed journals. Lamfalussy Fellows are not granted access to ECB internal data.

Candidate profiles and applications

Candidates should hold a position in a research institution. Researchers at the assistant professor level and PhD students whose research is at a very advanced stage are particularly encouraged to apply. None of the authors involved in the paper should be more than 36 years old by 31 January 2024, in an employment relationship with the ECB or be eligible for an ESCB/IO contract. Applicants should not previously have won the Lamfalussy Research Fellowship or the ECB’s Sintra Young Economist’s Prize at the time of application.

Applications should be submitted in English and include the following:

  • a cover letter
  • a curriculum vitae
  • two letters of recommendation
  • a two-page research proposal falling under one of the topics mentioned above
  • a statement indicating the candidate’s current sources of funding and date of birth

Applications should be sent by email to no later than 15 March 2024 (before 24:00 CET). To further enhance diversity, the ECB particularly encourages applications from female candidates. The selection committee aims to award five fellowships by April 2024.

About Baron Lamfalussy