Via Nationalbanken

Resident PhD student fellowship


Danmarks Nationalbank invites applications for resident PhD fellowships. Resident PhD fellows are enrolled in a PhD program and are a part of the Danmarks Nationalbank research unit, typically for the duration of their PhD studies.

We are especially interested in applicants who plan to work on a dissertation in Macroeconomics or Finance and other related fields which are relevant to the bank’s agenda, such as Labor Economics or Household Finance. We are especially interested in students who plan to use the extensive household and firm micro-data available at the bank. The resident PhD fellowship requires regular presence at the bank and is thus primarily targeted at students planning to enroll in a PhD program in the Copenhagen area.

Fellows are allocated office space and are paid a monthly stipend equivalent to the PhD stipend offered by Danish universities (currently around DKK 26,000 or EUR 3,500). Moreover, the bank provides health insurance, research funds, and computer equipment and covers university fees. The typical duration of the fellowship is three years, conditional on annual approval of a progress report. Past fellows have had the opportunity to complete their PhD thesis during a fourth year, while being employed as research assistants at the bank. Fellows can be granted access to a wide variety of data collected by the bank itself, as well as access to data hosted at Statistics Denmark through the bank’s general agreement with Statistics Denmark. We strongly encourage use of the data from Statistics Denmark for the research projects.

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Fellows are part of a vibrant academic environment in the research unit of Danmarks Nationalbank. The research unit is a young, international team of PhD economists working on research topics in macroeconomics, finance, household finance and labor economics. It is highly connected to academic institutions in Copenhagen. Fellows also benefit from the wide range of expertise of economists working in different areas of the bank, and are exposed to lively policy discussions that have inspired numerous research projects.

We accept applications from prospective students who plan to enroll in a PhD program within a year of their application, and students in the first year of their PhD program. Enrollment in a PhD program is a requirement for commencement and continuation of the fellowship. Applicants who are not already enrolled in a PhD program are expected to apply to PhD programs separately from their application for the fellowship. The University of Copenhagen and Copenhagen Business School welcome applications for their PhD program from Danmarks Nationalbank fellowship applicants. Please indicate in your application to these PhD programs that you have also submitted an application for funding to Danmarks Nationalbank.

To be considered, applicants should submit:

  • A cover letter (at most two pages) including a timeline for their PhD studies and a list of PhD programs in the Copenhagen area they plan to apply to.
  • A detailed CV
  • Transcripts of university grades
  • A research proposal discussing potential projects for their dissertation (max 5 pages)
  • Two letters of recommendation

For students already enrolled in a PhD program:

  • A letter from the PhD program director supporting their application

Please combine all application materials except reference letters into a single PDF and upload the PDF in the resume field of the application form. Reference letters should be sent directly to Tobias Renkin (

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The deadline for applications is March 15, 2020. For questions about the resident PhD student fellowship program contact Tobias Renkin (

Apply here