The National Bank of Belgium (NBB) Research Fellowship Program is a distinguished program designed to connect academic achievement with the influence of policymaking. Situated in the heart of Brussels, the programme provides notable European scholars with the chance to conduct cutting-edge economic and financial research on themes ranging from climate change economics to agent heterogeneity and digitalization. With an annual financial cap of €100,000, this fellowship stimulates top-notch research, encourages scholarly cooperation, and expands knowledge in central banking.
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1. What Is the National Bank of Belgium Research Fellowship’s Aim?
The National Bank of Belgium created this research fellowship with the following goals in mind:
1. Encourage advanced economic and financial research that is both academically demanding and policy-relevant.
2. Expand the NBB’s own research capabilities, particularly in growing fields like climate change, digitalization, and distributional economics.
3. Introduce prominent scholars to the Bank’s policymaking environment to improve knowledge sharing.
The fellowship is a cornerstone of influential, policy-focused research in Belgium and throughout Europe because of its dual-purpose approach.
2. Core Research Themes of National Bank of Belgium Research Fellowships
The National Bank of Belgium’s knowledge priorities are in line with the five primary research areas in which the fellowship is accepting proposals:
- Agent Heterogeneity: Investigating networked production systems, microeconomic shocks, and distributional consequences.
- Climate Change Economics: Examining energy market dynamics, decarburization routes, and climate policy.
- The impact of automation on labour markets, digital governance, and productivity is examined in Digitalisation & AI.
- Global Risks: Assessing supply shortages, global monetary policy, and geopolitical fragmentation.
- Examining crisis management techniques, union-wide economic coordination, and fiscal and monetary transmission are all aspects of macroeconomic policy.
These topics are especially relevant now because of the global economic upheavals and the central bank’s need for more in-depth knowledge of new issues.
3. National Bank of Belgium Fellowship Structure & Activities
Duration & Format
Fellowships last 6 to 12 months, which can be flexibly split over 2–3 years.
Roles & Responsibilities
Fellows are expected to:
- Collaborate with NBB research staff, providing mentorship and co-developing projects.
- Produce at least one research paper, presented internally, in the NBB Working Paper Series, and submitted to peer-reviewed journals.
- Organize seminars or workshops—at least one public or virtual conference at the NBB.
- Engage with Belgian academic institutions and strengthen academic-policy linkages.
Institutional Support
Fellows work onsite at the NBB’s Brussels headquarters, with access to:
- The National Bank of Belgium Library
- Computing resources and statistical databases.
- A thriving environment in the Economics and Research Department.
4. Fellowship Funding & Benefits
The Programme offers a substantial funding package worth €100,000 per year. This includes:
- Accommodation or living costs
- Travel expenses between home country and Brussels
- Conference participation and research-related travel
- Coverage of participatory fees and Bank-arranged levies.
Funding is pro-rated depending on assignment length (e.g., 6 months over three years equals ~€66,666 per annum). Importantly, funds cannot be combined with other NBB grants or employment.
5. Eligibility Criteria
To apply, candidates must:
- Be EU citizens, permanent residents, or hold legal work authorization in the EU.
- Conduct research mostly based in the EU.
- Hold a current academic appointment (assistant, associate, full, or visiting professor) at a European university during the fellowship period.
This framework ensures fellows contribute to and draw from Europe’s dynamic academic ecosystem.
6. Selection Process & Evaluation
Application Components
Interested professors must submit:
- A detailed CV highlighting publications and academic tenure.
- A research proposal aligning with one of the five themes.
- Optionally, an outline for a seminar or event at NBB.
- Proof of eligibility—EU status, academic rank, and institutional affiliation.
- References or letters of recommendation.
Evaluation Committee
Applications are reviewed by the Fellowship Nominating Committee, comprising:
- The Chair (from National Bank of Belgium’s Board)
- Two NBB advisors/department heads
- Two senior researchers from the Euro system or other economic research centers.
Selection Criteria
Nominations are assessed equally on:
- Research proposal quality: relevance, innovation, policy linkages
- Academic credentials: CV, publication track record
- Journal visibility: peer-reviewed work and citations
- Leadership and mentorship experience.
Final approval lies with the NBB’s Board, acting on committee recommendations.
Timeline
- Call issuance: regular updates via the National Bank of Belgium’s website
- Application deadline: typically mid-September (e.g., 15 September 2025).
- Announcement: winners disclosed in October 2025, following thorough review.
- Fellowship start: Candidate-defined timing within 2025–2026 cycle.
7. Nomination & Diversity
Aligned with EU mandates and best practices, the NBB encourages:
- Diverse nominations, with emphasis on gender balance and varied backgrounds
- Recognition of perspectives offered by female economists and underrepresented groups.
8. How to Apply
- Monitor the NBB’s official call on their research leadership page.
- Prepare :
- Research proposal within the stated themes
- Updated CV and references
- Evidence of EU status and academic standing
- Optional event provision.
- Submit via contact:
- Catherine Fuss
- Raf Wouters
- Await confirmation and be ready for potential interviews or seminar planning.
9. Benefits beyond Funding
This Programme offers intangible advantages:
- Institutional access to Belgium’s premier economic research infrastructure
- Policy immersion, adding insight into central bank decision-making
- Enhanced visibility via NBB Working Papers and international journals
- Network building with NBB staff, peers, and Belgian academia
- A platform to become a European economics leader
These elements collectively elevate the fellow’s research profile and profile in policy circles.
10. Past Examples & Outlook
In the inaugural 2021 cycle, fellows included:
- Mirabelle Muûls (Imperial College London), focusing on climate change economics
- Gert Peersman (Ghent University), working on agent heterogeneity.
The NBB anticipated adding two more positions in subsequent years—and indeed, the 2025 call reflects expansion into digitalization, macroeconomic policy, and international risk.
12. Conclusion
The NBB Research Fellowship Programme provides a distinct combination of financial financing, policy participation, and academic quality. With a clear selection process and five key research areas as its foundation, the program is a potent link between theory and European central bank policy. It is a premier opportunity for scholars who want to support economic stability and climate-informed policymaking since it promotes diversity and rewards creativity.
