Research Assistant

Federal Reserve System-posted 3 months ago
Full-time • Entry Level
Chicago, IL
501-1,000 employees
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As a Research Assistant at the Federal Reserve Bank of Chicago you will utilize analytical skills in the areas of Economics, Finance, Statistics, Mathematics and Computer Science to support academic research and policy work by staff economists. Topics of interest to our economists include micro and macroeconomics, finance, regional economic markets, insurance markets, and economic inequality and inclusion. Research and policy projects help to inform and direct the Bank’s efforts to achieve its mission. This position is structured as part of a two-year program and requires a two-year commitment. You will work with a variety of economists on their specified team to acquire skills in how to work with data in order to answer research and policy questions. Such skills are valuable when pursuing graduate studies in economics and related fields as well as for careers in industry, policy, and /or the non-profit sector. The level of work required is considered entry-level and staff work under direct supervision. You will have no direct reports.

  • Conduct statistical and economic analyses of current macroeconomic, microeconomic, financial, and regional data, and provides support for the economists in their academic research and policy work.
  • Support the economists in their basic and applied research by following instructions to perform tasks including collecting data, conducting moderately complex statistical analysis, writing code for model estimation, and organizing the presentation of results.
  • Prepare a variety of charts, tables, and descriptive text for department management or other staff economists to use in their briefings of the President and the Board of Directors.
  • Collaborate with economists at all stages of the research process – from literature reviews and data analyses to regressions and presentations of results.
  • Recommend, initiates, plans, and executes research projects under the guidance of manager and department researchers.
  • Perform other duties, as requested.
  • Bachelor’s degree (at minimum) with a strong quantitative background (econometrics, statistics, advanced calculus, or computer programming).
  • Evidence of aptitude for quantitative and analytical skills.
  • Exposure to and experience using data/programming languages.
  • Demonstrated interest in economics.
  • Knowledge of and experience applying economic theory and quantitative analysis techniques under the supervision of researchers.
  • Ability to use PC standard and statistical programs, such as but not limited to R, Python, STATA, MATLAB, ArcGIS, etc. to organize data and to perform advanced statistical and econometric analyses.
  • Strong analytical and problem-solving skills.
  • Strong organizational and planning skills.
  • Excellent oral and written communication skills.
  • The expected starting salary for this position is $75,000 annually in addition to annual performance-based discretionary bonuses.
  • The Chicago Fed offers benefits to support overall health and financial security.
  • A continuous learning environment with opportunities to gain new skills and grow your career.
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