Dear all,
Please be informed that we have published the new 2025 Call for Projects for the Lamfalussy fellowship on ECB website.
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 2025. 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 Vasso Ioannidou (Bayes Business School), Angela Maddaloni (ECB), Simone Manganelli (ECB), Ivan Petrella (Warwick Business School), Veronica Rappoport (London School of Economics) and Dominik Thaler (ECB).
Research projects
Successful candidates will be required to write a research paper over the course of 2025 in one of the following areas, with an explicit focus on the Euro Area:
(i) Financial stability
- Financial stability implications of central bank balance sheet policy
- The growing role of market-based finance in the European financial system and its prudential treatment
- Systemic risk, liquidity and macroprudential regulation
(ii) Financial integration and development
- The European capital markets union
- The impact of technological developments, including artificial intelligence, on financial markets
- The importance of financial inclusion
(iii) The transmission of monetary policy through the financial system:
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- Determinants of the strength, speed and heterogeneity of the transmission mechanism
- The central bank balance sheet in the short and in the long run, and its impact on financial markets
- 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 profile
Candidates should hold a position in a research institution. Researchers at the assistant professor level and PhD students close to the end of their degree are particularly encouraged to apply. None of the authors involved in the paper should be more than 36 years old by 31 January 2025, in an employment relationship with the ECB or be eligible for an ESCB/IO contract.[1] Candidates should not previously have won the Lamfalussy Research Fellowship or the ECB’s Sintra Young Economist’s Prize at the time of application.
Applications
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 lamfalussy.fellowships@ecb.europa.eu no later than 31 January 2025 (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 2025.
About Baron Lamfalussy
Alexandre Lamfalussy was one of the leading central bankers of his time and also one of the main supporters of a single capital market within the European Union. He was a member of the Delors Committee for the Study of European Economic and Monetary Union (EMU), the General Manager of the Bank for International Settlements and the first President of the European Monetary Institute (in charge of preparing the third stage of EMU). Furthermore, he was an Executive Director of Banque Bruxelles Lambert and the Chairman of EuroMTS. He also chaired the “Committee of Wise Men on the Regulation of European Securities Markets”, whose reform proposals were adopted by the European Council in Stockholm in March 2001.
Baron Lamfalussy was born in Hungary in 1929 and studied at the Catholic University of Louvain in Belgium. He obtained a doctorate (D.Phil.) in economics from Oxford University (Nuffield College) and taught at the University of Louvain and Yale University. He was the author of numerous research articles and books on economic policy. He passed away on 9 May 2015.
[1] Eligibility for ESCB/IO contracts is explained here: https://www.ecb.europa.eu/careers/what-we-offer/contract/escb/html/index.en.html.
