INTERNSHIP DETAILS

Internship, Research PhD – Summer 2026

CompanyFederal Reserve System
LocationKansas City
Work ModeOn Site
PostedJanuary 21, 2026
Internship Information
Core Responsibilities
The intern will work with staff economists on a quantitative project involving a frictional labor market within a HANK model. The project will analyze the effects of fiscal and unemployment policies under various aggregate shocks.
Internship Type
full time
Company Size
854
Visa Sponsorship
No
Language
English
Working Hours
40 hours
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About The Company
The Federal Reserve Bank of Philadelphia helps formulate and implement monetary policy, supervises banks and bank holding companies, and provides financial services to depository institutions and the federal government. One of the 12 regional Reserve Banks that, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System, the Philadelphia Federal Reserve Bank serves eastern Pennsylvania, southern New Jersey, and Delaware. Follow us on Twitter: @philadelphiafed
About the Role

Company

Federal Reserve Bank of Kansas City

Challenging and Rewarding Work | Commitment to Integrity and Service | Leadership Opportunities 

Consider a career with an organization focused on promoting a healthy regional and national economy. As an intern, you will directly contribute to the trust and confidence in the nation’s financial system through challenging work assignments and rewarding professional experiences. We focus on personal development and growth and reward high performance with increasingly complex assignments and promotional opportunities.  
 
The internship opportunities will be available on several teams within the Research division and will last approximately 10 weeks. 

The Economic Research Department at the Federal Reserve Bank of Kansas City is recruiting for the position of PhD Research Intern. The Department conducts innovative analysis and research on a variety of topics, including international trade, macroeconomics, monetary policy, and labor economics. For the summer of 2026, we are offering a paid research internship for a graduate student currently in their 2nd or 3rd-year of a PhD program in economics.   

 

The Intern will work with staff economists exploring a quantitative project that combines a frictional labor market within a heterogenous agents New Keynesian (HANK) model.  In addition, the model will analyze the effects of various fiscal and unemployment policies and examine the outcomes under different types of aggregate shocks.     

 

Qualifications 

  • Graduate student in economics.   

  • Strong academic record with 2-3 years of graduate education preferred. 

  • Experience in working with quantitative economic models, ideally with HANK models featuring an endogenous income process via an explicit modeling of the labor market. 

  • Familiarity with Julia, and with parallelization and GPU programming in Julia is highly desirable. 

 

Please attach the following with your application:  

  • Resume  

  • Unofficial Transcript  

  • Cover Letter

  • Letter of Recommendation from Current Graduate School

Note: You will not be able to attach documents after application submission.   

 

Posting Close Date: Thursday, March 5, 2026 

 

Additional Information  

How We Work: 

  • On-site, full-time with 5 days per month remote work flexibility 

  • Location: Kansas City, MO  

  • Remote Eligible: No  

   

Pay Rate: 

  • $40.00 per hour  

  • Final offers are determined by factors including the candidate’s qualifications, internal alignment considerations, district assignment, and geographic location.  

   

Screening Requirements: Certain eligibility requirements apply. 

   

Sponsorship: The Federal Reserve Bank of Kansas City will not sponsor a new applicant for employment authorization for this position. Applicants must be currently authorized to work in the United States without the need for visa sponsorship now or in the future.  

 

About Us 

  

Follow us on LinkedIn, Instagram, X (formerly Twitter), and YouTube 

Full Time / Part Time

Full time

Regular / Temporary

Temporary

Job Exempt (Yes / No)

No

Job Category

Internship Family Group

Work Shift

First (United States of America)

The Federal Reserve Banks are committed to equal employment opportunity for employees and job applicants in compliance with applicable law and to an environment where employees are valued for their differences.

Always verify and apply to jobs on Federal Reserve System Careers (https://rb.wd5.myworkdayjobs.com/FRS) or through verified Federal Reserve Bank social media channels.

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Key Skills
EconomicsQuantitative AnalysisHANK ModelsLabor Market ModelingFiscal Policy AnalysisUnemployment Policy AnalysisAggregate Shock AnalysisJulia ProgrammingGPU ProgrammingParallelizationResearchData AnalysisMacroeconomicsMonetary PolicyInternational TradeLabor Economics
Categories
Finance & AccountingScience & ResearchGovernment & Public SectorData & AnalyticsEducation