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**University of Oxford – Department of Economics** **179461: Predoctoral Fellow** ****EJM - Econ Job Market **** **Project Title:** Heterogeneous Agents in Heterogeneous Countries **Principal Investigator:** Professor Federica Romei **Contract Type:** Fixed-term, from 1 September 2025 to 30 August 2026 (some flexibility around those dates), with the possibility to extend **About the Project** This interdisciplinary research project examines key macroeconomic developments over the past three decades—including rising inequality, increased capital mobility, and the persistent decline in real interest rates—through the lens of cross-country and within-country heterogeneity. The project seeks to provide both empirical evidence and theoretical insight into the interconnected dynamics of these phenomena. **Key areas of investigation include:** * The empirical relationship between household heterogeneity and international capital flows * The development of theoretical frameworks incorporating heterogeneous agents and limited financial commitment * The structural causes behind declining global interest rates * Explanations for persistent international economic puzzles, including the limited degree of global risk-sharing **Responsibilities:** * To work collaboratively with the principal investigator and other members of the research team including other researchers and research assistants * Collaborate in the preparation of research publications * To contribute to the development and management of research projects as part of the overall research agenda in the ERC grant. * Act as a source of information and advice to other members of the group on research methodologies and results **Candidates are encouraged to send their applications by the 31st of May 2025. ** **Please submit a full online application via the following link:** EJM Contact: personnel@economics.ox.ac.uk.
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University of Oxford – Department of Economics 179461: Predoctoral Fellow EJM - Econ Job Market Project Title: Heterogeneous Agents in Heterogeneous Countries Principal Investigator: Professor Federica Romei Contract Type: Fixed-term, from 1 September 2025 to 30 August 2026 (some flexibility around those dates), with the possibility to extend About the Project This interdisciplinary research project examines key macroeconomic developments over the past three decades—including rising inequality, increased capital mobility, and the persistent decline in real interest rates—through the lens of cross-country and within-country heterogeneity. The project seeks to provide both empirical evidence and theoretical insight into the interconnected dynamics of these phenomena. Key areas of investigation include: The empirical relationship between household heterogeneity and international capital flows The development of theoretical frameworks incorporating heterogeneous agents and limited financial commitment The structural causes behind declining global interest rates Explanations for persistent international economic puzzles, including the limited degree of global risk-sharing Responsibilities: To work collaboratively with the principal investigator and other members of the research team including other researchers and research assistants Collaborate in the preparation of research publications To contribute to the development and management of research projects as part of the overall research agenda in the ERC grant. Act as a source of information and advice to other members of the group on research methodologies and results Candidates are encouraged to send their applications by the 31st of May 2025. Please submit a full online application via the following link: EJM Contact: personnel@economics.ox.ac.uk.
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Job Description _________________________________________________________________________ Summary Job title Predoctoral Fellow Division Social Sciences Department Economics Location Department of Economics, Manor Road Building, Manor Road, Oxford Grade and salary Grade 6: £34,982 – £40,855 p.a. Hours Full time (37.5 hours per week) Contract type Fixed term from 1 September 2025 to 30 August 2026 (some flexibility around those dates), with the possibility to extend Reporting to Prof. Federica Romei 179461 Vacancy reference EJM - Econ Job Market Job description Reporting to the Principal Investigator, Prof. Federica Romei. The post holder is a member of a research group with responsibility for carrying out research as part of the ERC/UKRI research project “Heterogeneous Agents in Heterogeneous Countries”. The research agenda is summarised as follows Three defining economic phenomena of the last 30 years are the evolution of inequality both within and across countries, the explosion of capital flows after financial liberalisation, and the secular decline of real interest rates. This research project will explore how these phenomena all relate to each other and to heterogeneity along different dimensions. How does heterogeneity, both within and across countries, determine aggregate macroeconomic variables, such as the current account balance, Gross Domestic Product and real interest rates? This project tackles this question empirically and theoretically. The key objectives of this agenda are as follows: 1. The empirical analysis of the relationship between capital flows and household heterogeneity across countries. This empirical analysis forms a key pillar underpinning the whole research agenda. 2. The development of a novel theoretical framework featuring heterogeneous countries and households. with limited commitment. 3. The analysis of the forces behind the fall in world interest rates, exploiting the rich heterogeneity across households and countries of the quantitative model. This fall in interest rates poses important risks for policy, and it is thus crucial to understand what causes it. 4. The study of important unexplained observations in international economics. At the heart of these puzzles lies the low degree of empirically observed international risk-sharing. Rich household heterogeneity, heterogeneous countries and financial frictions are crucial elements of the model that can explain these outstanding puzzles. Responsibilities • • • • To work collaboratively with the principal investigator and other members of the research team including other researchers and research assistants Collaborate in the preparation of research publications To contribute to the development and management of research projects as part of the overall research agenda in the ERC grant. Act as a source of information and advice to other members of the group on research methodologies and results Selection Criteria Essential selection criteria • Hold a bachelor’s degree in economics (or similar), together with some relevant experience. • Ability to carry out independent quantitative research, including excellent skills in statistics/econometrics and programming software (MATLAB, STATA, R, Python). • Demonstrable team working skills with a flexible can-do approach, self-motivation, resilience and a willingness to adapt to the changing team needs and priorities. • Excellent organisational skills with attention to detail and accuracy. • Excellent written and oral communication skills, including the ability to synthesise complex issues for a non-expert audience. Pre-employment screening Standard checks If you are offered the post, the offer will be subject to standard pre-employment checks. You will be asked to provide: proof of your right-to-work in the UK; proof of your identity; and (if we haven’t done so already) we will contact the referees you have nominated. You will also be asked to complete a health declaration so that you can tell us about any health conditions or disabilities for which you may need us to make appropriate adjustments. Please read the candidate notes on the University’s pre-employment https://www.jobs.ox.ac.uk/pre-employment-checks screening procedures at: 179461 - Predoctoral Fellow 2 About the University of Oxford Welcome to the University of Oxford. We aim to lead the world in research and education for the benefit of society both in the UK and globally. Oxford’s researchers engage with academic, commercial and cultural partners across the world to stimulate high-quality research and enable innovation through a broad range of social, policy and economic impacts. We believe our strengths lie both in empowering individuals and teams to address fundamental questions of global significance, while providing all our staff with a welcoming and inclusive workplace that enables everyone to develop and do their best work. Recognising that diversity is our strength, vital for innovation and creativity, we aspire to build a truly diverse community which values and respects every individual’s unique contribution. While we have long traditions of scholarship, we are also forward-looking, creative and cutting-edge. Oxford is one of Europe's most entrepreneurial universities and we rank first in the UK for university spin-outs, and in recent years we have spun out 15-20 new companies every year. We are also recognised as leaders in support for social enterprise. Join us and you will find a unique, democratic and international community, a great range of staff benefits and access to a vibrant array of cultural activities in the beautiful city of Oxford. For more information, please visit www.ox.ac.uk/about/organisation. The Department of Economics Oxford Economics is one of the largest and most diverse groups of academic economists in Europe with a permanent faculty of over 50 including 11 statutory (established) professors, and there are additionally around 20 postdocs and early career researchers on fixed-term appointments of 3 or 4 years. Our members include some of the world’s most distinguished academic economists. We aim to produce first-class research across the range of the discipline, organised within nine Research Groups, covering all the major sub-fields as well as more specialist areas such as Economic History and Behavioural Economics. The Research Groups promote and support high-quality research and interaction, and provide an active and supportive research environment for faculty and research students in their field, including regular seminars/workshops. The Department is also home to several specialised economics research centres, including the world-renowned Centre for the Study of African Economies. Economists in Oxford are not confined to the Department of Economics, but are also present in other places including the Said Business School, the Blavatnik School of Government and the Oxford Internet Institute and candidates may well also find researchers with related interests outside the Department. In the most recent Research Assessment Exercise (REF 2021) Oxford submitted the largest number of researchers of all UK institutions to the Economics and Econometrics Unit of Assessment (UoA). Over half of submitted outputs, impact case studies and environment statements received the highest grade of 4*. Members of the Department provide economics teaching for three undergraduate programmes (including Oxford’s flagship Philosophy, Politics and Economics degree) and five graduate programmes including the MPhil and DPhil in Economics, with a total of around 1000 undergraduates and 330 graduate students. For more information please visit: www.economics.ox.ac.uk. Social Sciences Division The University’s academic departments and faculties are organised into four large groups known as Academic Divisions (Social Sciences, Mathematical, Physical and Life Sciences (MPLS), Medical Sciences, and Humanities). The divisions are responsible for academic strategy and operational planning, oversight of the teaching and research of their constituent departments and faculties, and for personnel and resource management. The social sciences at Oxford are distinctive for both their depth and breadth, with over 1,100 academic and research staff 179461 - Predoctoral Fellow 3 working across fifteen departments, faculties and schools. The Head of the Social Sciences Division is Professor Timothy Power. The Division is a world-leading centre of research and education in the social sciences. The Times Higher Education (THE) University Rankings returned the University of Oxford to the number one spot in the world for Social Sciences in 2022. We have placed first in three of the last five years (2018, 2019 and 2022). More than 800 researchers were returned to Main Panel C (Social Sciences) for REF 2021 across a diverse range of subject area ‘units of assessment’ – from geography and business to archaeology and law. Over 55% of the research submitted from the Division was judged to be world-leading (4*, the highest score available). More than two-thirds (69%) of the research’s impact was also recognised as world-leading (4*). Research from across the Division was also submitted to subject areas across Panels A (Medicine, health and life sciences), B (Physical sciences, engineering and mathematics), and D (Arts and Humanities), highlighting the enormous breadth and diversity of research expertise across the Division. Our academic and research staff and students are international thought leaders, generating new evidence, insights and policy tools with which to address some of the major global challenges facing humanity, such as sustainable resource management, poverty and forced migration, effective governance and justice. Particular research highlights in recent years have included COVID-19 and Climate Change. As well as active interdisciplinary links with researchers in other divisions at Oxford, we engage and collaborate extensively with other universities and a wide range of governmental and non-governmental practitioner communities such as law, business, public health and welfare, international development and education around the world. The Division has an extensive portfolio of external funders, partners and supporters, with competitively-awarded external research income exceeding £50 million per year and philanthropic income over £25 million a year. As part of our commitment to equality of opportunity, eleven of our departments have achieved Bronze awards under the Athena Swan Charter (a UK accreditation scheme recognising organisations’ commitment to equality and diversity, particularly in gender). Our School of Geography and the Environment holds an Athena Swan Silver award. In February 2023, for the first time, the University as a whole was awarded an institutional Athena Swan Silver award, acknowledging the progress that has been made in addressing a number of gender gaps across the University over the last five years. The Division delivers an exceptional range of high-quality educational programmes all underpinned by the innovative research being undertaken by our academics. The student body is made up of over 2,000 undergraduate students, nearly 3,000 students studying postgraduate taught programmes and 1,200 postgraduate research students. The programmes we offer are wide-ranging, often interdisciplinary and include professionally-oriented provision in areas such as business, law and education. The Division is home to several of Oxford’s most widely recognised teaching programmes, such as Philosophy, Politics and Economics (PPE) at undergraduate level; and at the Masters level programmes such as the Bachelor in Civil Law (BCL), Environmental Change and Management, International Relations, and Social Data Science. For more information, please visit: www.socsci.ox.ac.uk. How to apply Applications are made through via www.econjobmarket.org: EJM - Econ Job Market Your application will be judged solely on the basis of how you demonstrate that you meet the selection criteria stated in the job description. As part of your application you will be asked to provide details of two referees and indicate whether we can contact them now. You will be asked to upload a CV and a supporting statement. The supporting statement must explain how you meet each of the selection criteria for the post using examples of your skills and experience. This may include experience gained in employment, education, or during career breaks (such as time out to care for dependants) 179461 - Predoctoral Fellow 4 Please upload all documents as PDF files with your name and the document type in the filename. Your application will be judged solely on the basis of how you demonstrate that you meet the selection criteria stated in the job description. As part of your application you will be asked to provide details of two referees and indicate whether we can contact them now. You will be asked to upload a CV and a supporting statement. The supporting statement must explain how you meet each of the selection criteria for the post using examples of your skills and experience. This may include experience gained in employment, education, or during career breaks (such as time out to care for dependants) Please upload all documents as PDF files with your name and the document type in the filename. All applications must be received by midday UK time on the closing date stated in the online advertisement. Applications will be considered by a selection committee. The selection committee is responsible for conducting all aspects of the recruitment and selection process. Candidates are encouraged to send their applications by 31st May 2025. Information for priority candidates A priority candidate is a University employee who is seeking redeployment because they have been advised that they are at risk of redundancy, or on grounds of ill-health/disability. Priority candidates are issued with a redeployment letter by their employing department(s). If you are a priority candidate, please ensure that you attach your redeployment letter to your application (or email it to the contact address on the advert if the application form used for the vacancy does not allow attachments). If you need help If you experience any difficulties using the Econjobmarket’s application system, in the first instance please get in touch with Econjobmarket’s support team using their online web form. Nontechnical queries: For any personnel@economics.ox.ac.uk. queries about your application and the role, please contact Please note that you will receive an automated email from our e-recruitment system to confirm receipt of your application. Please check your spam/junk mail if you do not receive this email. 179461 - Predoctoral Fellow 5 Important information for candidates Data Privacy Please note that any personal data submitted to the University as part of the job application process will be processed in accordance with the GDPR and related UK data protection legislation. For further information, please see the University’s Privacy Notice for Job Applicants at: https://compliance.admin.ox.ac.uk/job-applicant-privacypolicy. The University’s Policy on Data Protection is available at: https://compliance.admin.ox.ac.uk/dataprotection-policy. Hazard-specific / Safety-critical duties This job includes hazards or safety-critical activities. If you are offered the post, you will be asked to complete a health questionnaire which will be assessed by our Occupational Health Service, and the offer of employment will be subject a successful outcome of this assessment. The hazards or safety-critical duties involved are as follows: Travel outside of Europe or North America on University Business University Benefits, Terms and Conditions Details of University policy in the following areas can be found at the links provided. Salary Academic staff pay | HR Support (ox.ac.uk) Pension https://finance.web.ox.ac.uk/uss Sabbatical leave Council Regulations 4 of 2004 | Governance and Planning (ox.ac.uk) Outside commitments https://hr.admin.ox.ac.uk/holding-outside-appointments. Intellectual Property https://governance.admin.ox.ac.uk/legislation/council-regulations-7-of-2002 Managing conflicts of interest https://researchsupport.admin.ox.ac.uk/governance/integrity Membership of Congregation https://www.ox.ac.uk/about/organisation/governance https://governance.admin.ox.ac.uk/legislation/statute-ivcongregation Family support 179461 - Predoctoral Fellow 6 https://hr.admin.ox.ac.uk/family-leave-for-academic-staff. https://childcare.admin.ox.ac.uk/home. https://www.newcomers.ox.ac.uk/. Welcome for International Staff welcome.ox.ac.uk. Home | Staff Immigration (ox.ac.uk) Relocation https://finance.admin.ox.ac.uk/relocation-scheme-arrangements#collapse1094916 Promoting diversity https://edu.admin.ox.ac.uk/home Other benefits and discounts for University employees Staff benefits | HR Support (ox.ac.uk) Pre-employment screening https://jobs.ox.ac.uk/pre-employment-checks. Length of appointment Appointments to Associate Professorships at Oxford are confirmed as permanent on successful completion of a review during the first five years. See Academic posts at Oxford | HR Support Retirement The University operates an employer justified retirement age for academic posts of 30 September immediately preceding the 70th birthday. See https://hr.admin.ox.ac.uk/the-ejra Data Privacy https://compliance.admin.ox.ac.uk/job-applicant-privacy-policy. https://compliance.admin.ox.ac.uk/data-protection-policy. 179461 - Predoctoral Fellow 7
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