National Bank of Slovakia Visiting Researcher Programme

Candidates may pursue their own proposed research project upon agreement with the National Bank of Slovakia. We expect the project to be undertaken in close collaboration with our staff members. Alternatively, candidates may opt for one of the following areas:

• Topic 1: Transmission of monetary policy: bank-firm channel analysis using granular data
  The primary objective is to investigate and quantitatively evaluate how specific characteristics of firms and banks affect the pass-through of monetary policy. We aim to utilize loan-level data from the credit registry, enriched with detailed financial reports from individual banks and firms. The country coverage may vary depending on the final scope of the project. While the primary focus will be on the transmission of monetary policy, we may also consider the interaction of monetary policy with macroprudential or other policies or shocks. The ideal candidate is expected to have expertise in monetary policy transmission and strong methodological skills. We are seeking a candidate with willingness to work closely with the NBS staff. Please note that access to confidential data is restricted to NBS staff; collaborative arrangements will be facilitated as required.

• Topic 2: Macroeconomic and inflation expectations of professional forecasters
  Since 2007, the National Bank of Slovakia has been compiling monthly macroeconomic forecasts from Slovak professional forecasters. An analysis comparing the forecast errors of these professional forecasters with the National Bank's official forecasts reveals that, while professional forecasters predict GDP growth with comparable accuracy to the central bank, their inflation forecasts are significantly less accurate. We invite applications for a visiting researcher position connected to this project. The ideal candidate will have expertise in the theoretical literature on macroeconomic expectations and will collaborate on elucidating the formation of inflation expectations among Slovak professional forecasters.

  The expected output of the program should take the form of NBS Working Paper, at the minimum.