Introduction to Fully Funded NBB Research Fellowship 2025

The National Bank of Belgium (NBB) has officially opened its 2025 Research Fellowship Programme—a prestigious, fully funded opportunity offering up to €100,000 per year for high-level research. Whether you’re driven by macroeconomic policy design, digitalisation, or climate transition economics, this fellowship could be your launchpad into meaningful, applied research that shapes European policymaking.

Short Detail

About the NBB Research Fellowship Programme

The NBB Research Fellowship Programme 2025 provides distinguished economists and finance scholars with the resources and institutional access to explore policy-relevant topics critical to the Belgian and broader European economy. Each fellowship is tailored for six- or twelve-month projects, with the flexibility to distribute the work over two to three years—making it ideal for academics balancing multiple commitments.

Fellows will be based at the Economics and Research Department of the NBB in Brussels, engaging in collaborative research that feeds directly into the Bank’s decision-making framework.

What Does the NBB Research Fellowship Offer?

Let’s talk benefits. The programme is generously funded and intellectually rewarding:

• €100,000 per year per selected research project

• Flexible time allocation over 2–3 years

• Access to exclusive NBB data, tools, and infrastructure

• Opportunity to conduct joint research with NBB economists

• A platform to influence economic and financial policy

• Visibility within top-tier academic and policymaking circles

Key Objectives of the NBB Research Fellowship

Why is this programme such a big deal? Because it ticks all the boxes:

• Advance world-class research in economics and finance

• Bridge the gap between academic insight and policy application

• Provide NBB staff with exposure to cutting-edge ideas

• Foster collaboration between central bankers and scholars

• Help researchers understand the real-world challenges of monetary and financial systems

Priority Research Areas for 2025

The NBB is particularly interested in the following domains. If your research falls into these, you’re already one step ahead:

1. Agent Heterogeneity

• How different types of agents react to economic shocks

• Micro-to-macro aggregation methods

• Measuring productivity variations and agent-specific behaviors

2. Climate Change and Transition to Climate Neutrality

• Effectiveness of carbon pricing, regulations, and climate policies

• Green transition and its macroeconomic impacts

• Role of electricity markets and climate instruments

3. Digitalisation and Artificial Intelligence

• AI’s influence on firm-level productivity and market power

• Job market disruptions from automation

• Policy frameworks for regulating emerging digital tech

4. International Trade and Financial Risks

• The economic impact of geopolitical tensions

• Supply chain vulnerabilities and trade fragmentation

• Strategic resource dependencies and financial stability

5. Macroeconomic Policy Design

• Policy effectiveness under heterogeneity

• Expectations, behavior, and adaptive dynamics

• Fiscal-monetary coordination and nonlinear macro models

Both empirical and theoretical research methods are welcome, including agent-based simulations, macroeconomic modeling, and advanced econometrics.

Who Can Apply?

You’re eligible if you are:

• A citizen or permanent resident of an EU Member State

• Legally authorized to work in the European Union

• A recognized scholar with strong publication history

• Interested in policy-relevant research that contributes to central banking

The NBB actively encourages applications from women and scholars from diverse backgrounds, promoting inclusivity in economic research.

How to Apply

Deadline: 15 September 2025

Submit the Following Documents via Email:

• A detailed CV, including a full list of publications

• A 1-page research proposal outlining your topic, methods, and relevance

• (Optional) Proposal for a related event, such as a workshop or training session

• Your preferred timeframe for conducting the research

Where to Send Your Application:

• Catherine Fuss – catherine.fuss@nbb.be

• Raf Wouters – rafael.wouters@nbb.be

How Are Fellows Selected?

All applications go through a rigorous review by the Fellowship Committee, which includes:

• Senior NBB staff

• External experts from top academic institutions

Selection Criteria:

• Quality and originality of research

• Relevance to NBB’s policy priorities

• Academic leadership and potential for high impact

Final decisions are made by the NBB Board of Directors, with results announced in October 2025.

Why Apply for the NBB Research Fellowship?

Still undecided? Here’s what you gain:

• Collaborate with one of Europe’s top central banks

• Influence real-world economic and monetary policy

• Access to exclusive data and advanced research infrastructure

• Visibility across EU research and policy networks

• A chance to make a lasting impact in economics and finance

This isn’t just a grant—it’s a career-defining opportunity.

FAQs – NBB Research Fellowship 2025

Q1: Can non-EU citizens apply?
No. You must be an EU citizen or permanent resident, or otherwise legally authorized to work in the EU.

Q2: Do I need to be based in Brussels full-time?
While fellows are expected to spend time at the NBB, the timeline is flexible and can be spread across 2–3 years.

Q3: Can I hold another fellowship at the same time?
No. This NBB Research Fellowship cannot be combined with other financial or contractual relationships with the NBB.

Q4: Is there support for organizing academic events?
Yes, you may propose related events such as workshops, which can be considered part of the fellowship.

Q5: Are early-career researchers eligible?
Yes, as long as you demonstrate strong academic credentials and a promising research proposal.

Apply Now