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Federal Reserve Bank of San Francisco · 1 day ago

Summer Intern Research department - Macro

Philadelphia, PA

Internship

Onsite

Intern

$23/hr - $23/hr

The Federal Reserve Bank of Philadelphia is one of the 12 regional Reserve Banks that make up the Federal Reserve System. The Research department is seeking an undergraduate level student for a paid summer internship to work on academic research projects related to economic stimulus and vehicle purchases, involving data analysis and reporting.

BankingFinanceFinancial Services

Responsibilities

The research project is trying to document and understand how vehicle purchases responded to past stimulus checks, using the data on economic stimulus payments during the previous three recessions (2001, 2008, 2020)

The intern will download the Consumer Expenditure Survey (CE) during the last three recessions, together with the special data modules related to the stimulus payments, merge and clean the data following the series of work by Jonathan Parker and his coauthors, compute the response of vehicle purchases to stimulus payment receipts of each household. This step requires running complex regressions to identify the response of vehicle purchases to stimulus payments in a messy dataset

After computing the average response of households, the intern will investigate how the responses are different according to various characteristics of households (age, sex, race, family composition, income, liquid wealth holding, etc)

The intern will write up the results. The intern also has a chance to present the findings within the Bank. Ideally there will be a short research paper out of the projects

Qualification

Economics knowledgeStatistics/econometricsStatistical software (R/Stata)Large dataset experienceAcademic writingCommunication skillsProblem-solving skillsAttention to detailOrganization skills

Required

Undergraduate level student, preferably a rising Junior or rising Senior with an Economics major

Research experience

Knowledge in economics and statistics/econometrics

Experience with large dataset and statistical software (such as R or Stata) to process the dataset

Good communication skills

Active problem-solving skills

Attention to detail

Basic organization skills

Ability to sit and use a computer for long hours

Work authorization to prove eligibility to work in the United States

Preferred

Students with non-economics major with similar knowledge and skills may also be considered

Academic writing experience

Company

Federal Reserve Bank of San Francisco

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We are the Federal Reserve Bank of San Francisco—public servants with a mission to advance the nation’s monetary, financial, and payment systems to build a stronger economy for all Americans.

Founded in 1913