Economist, Corporate Team, Structural Economics Division 12month opportunity

Job Description

The Bank of England is the UKs central bank. Our mission is to deliver monetary and financial stability for the British people. The Bank of England is a diverse organisation. Each of its 4,000 plus people are committed to public service and dedicated to promoting the good of the people of the United Kingdom by maintaining monetary and financial stability. Monetary Analysis (MA) provides the core analytic support that underpins the setting of Bank Rate each month by the Monetary Policy Committee (MPC) to meet the inflation target. We are closely linked to the MPC Unit, which supports the external members of the MPC. Department overviewStructural Economics Division (SED) has following mission: To deliver incisive, impactful medium-term analysis and research on the evolving structure of the UK economy both cross-sectionally and over time, giving the MPC and wider Bank a clear picture of key structural changes and their underlying drivers. Through considered, rigorous and policy-relevant staff work - typically produced over a period longer than the six-week cycle between MPC policy meetings - the division provides analysis and insights that influence policymakers across the Bank. That analysis draws on a wide range of approaches, both theoretical and empirical. For instance, we are making greater use of micro-data to understand key macroeconomic developments and how economic relationships have changed since the financial crisis and are changing ahead the UKs departure from the EU. Our areas of responsibility include: pricing and inflation dynamics, the labour market, the corporate sector including the economys productive potential, the household sector and trade. We look to set the agenda on, and foster links between, these areas. We comprise:•a Leadership Team - a Head of Division, two Senior Managers, a Senior Technical Advisor and a Senior Research Manager•around 20 economists, many with PhDs•one senior research assistantJob descriptionWe are looking for an Economist to join the Corporate Team in Structural Economics Division to analyse results from the Decision Maker Panel survey of UK businesses. The Decision Maker Panel (DMP) is a large and representative monthly survey of British businesses run by the Bank of England in collaboration with academics from Stanford University and the University of Nottingham. It is a key source of data for the Monetary Policy Committee (MPC) and has been regularly used in the Monetary Policy Report, speeches and academic publications. You will play an important role in running the DMP and in communicating the results from the survey by:•analysing and interpreting the survey data•writing summaries of the results from each monthly survey and other ad-hoc policy notes for the MPC•contributing to presentations that use results from the DMP•analysing how data from the DMP relate to other surveys and official data sources•developing new ways of analysing data from the DMP•preparing quarterly summaries of survey results and monthly data releases that are both published on the Bank website•contributing to analysis of panel representativeness, development of recruitment and retention strategies, new survey questions and other aspects of the survey development•liaising with other DMP users from across the Bank, including from other parts of the Monetary Analysis area and Agency Network, to facilitate wider use of the data Whilst the main focus of the role will be on policy-related analysis of the DMP data, there will also be opportunities to contribute to research projects using data from the survey. You will work closely with other members of the Structural Economics Division who work on the Decision Maker Panel and there will be regular opportunities to interact directly with the Banks academic collaborators on this project: Professor Nicholas Bloom (Stanford University) and Professor Paul Mizen (University of Nottingham). We are an equal opportunity employer, and Monetary Analysis is fully committed to having a diverse and inclusive working environment. This role can be done as part of a job share and/or with flexible working. Monetary Analysis is fully committed to having a diverse and inclusive working environment. This role can be done as part of a jobshare and/or with flexible working. Role requirementsMinimum Essential Criteria•A relevant postgraduate qualification, such as a Masters in economics or finance, or equivalent work experience.•Good knowledge of Stata and experience of working with large micro datasets •A genuine interest in monetary policy issues•Strong analytical skills •Excellent oral and written communication skills•Attention to detail, be able to produce consistently accurate work, working independently, sometimes to tight deadlines•Ability to come up with new ways of analysing and visualising data Desirable Criteria•Practical experience of working with and/or running of business surveys•Experience of carrying out academic research or the potential to do so in future•Knowledge of academic literature on uncertaintyWe anonymise applications so hiring managers will not be able to see your personal information, your original CV or any covering letters when reviewing your submission. Please complete work history and the application form questions as requested because incomplete submissions will not be reviewed. The start date for the role is flexible around late 2020/early 2021. It is initially for 12 months but may be extended depending on future funding arrangements for the Decision Maker Panel. As a unique institution, we have a reward package which sets us apart from other organisations. It includes a competitive salary, but also a much wider offering, including a defined benefit pension and comprehensive flexible benefits. We also offer a working environment which fully supports individuals through flexible working, wellbeing initiatives including an on-site medical and dental unit. This specific role offers a base salary of £45,000-£52,000 (subject to experience and skillset)The total package also includes:

A non-contributory, career average pension giving you a guaranteed retirement benefit of 1/95th of your annual salary for every year worked

A discretionary performance award based on a current award pool and target award of 10%, with a maximum potential award of 25%

A 7% benefits allowance with the option to take as salary or purchase a wide range of flexible benefits

25 days annual leave with option to buy up to 13 additional days through flexible benefits

Private medical insurance and income protection insurance

More information on the Decision Maker Panel is