The HKIMR invites applications for the Institute’s Thematic Research Programme. Compared with the Regular Research Programme, applicants are invited to submit proposals of empirical and theoretical studies on the topics in the following thematic areas Preferences are given to comparative studies which address critical policy issues and/or have significant global and regional implications:

Monetary policy, central banking and the macroeconomy
1) The short- and long-term economic impact of COVID-19. Policy responses and effects on the labour market, inflation and the global supply chain
2) US monetary and fiscal policy developments. Effects and implications for international markets
3) Financial stability implications of low-for-long interest rates
4) Monetary-fiscal policy interaction - implications for inflation risk and financial stability
5) The macroeconomic implications of climate change and sustainability
6) The effect of the aging population on advanced and emerging economies
7) Long-term rise in economic inequality. Macroeconomic implications and policies

Mainland China and Hong Kong
1) Offshore RMB market development and onshore macro-financial stability
2) Credit risk and banking sector vulnerabilities in China
3) Economic and financial integration between Hong Kong and Mainland China and their implications
4) Currency Boards and exchange rate dynamics

Emerging economies
1) US dollar fluctuations, USD funding stress and emerging economies’ macroeconomic dynamics
2) The development of non-bank financial intermediation (NBFI) in emerging markets and implications for financial stability
3) Capital flows and financial markets in emerging economies and implications for macroeconomic and financial stability
4) Credit dynamics, household debt and the real economy in emerging markets
5) Foreign currency corporate credit risk in emerging economies

Financial innovation and financial market developments
1) Technological innovation in financial services: Implications for social, economic and market development
2) Recent developments in the microstructure of financial markets and their impact on market quality and financial stability

Applicants typically hold a PhD in economics or finance and an academic position, with specialization in the priority areas of interest and a track record of publications in top peer-reviewed academic journals. Good knowledge of the Asian region and experience in empirical and applied research are added advantages.

If you are interested and meet the specific requirements, please email a proposal prepared according to the submission guidelines to Hong Kong Institute for Monetary and Financial Research ([email protected]). The Council of Advisers for Monetary Research reviews the proposals on a quarterly basis and deliberates on the submissions. Since the Council frequently requests clarifications of the submitted proposals, applicants should apply well in advance of their desired dates of visit.

The length of the visit ranges between one week and one month, prior to mutual agreement. Successful applicants will receive an attractive remuneration package, including travel and accommodation allowances.

Please note that:

  1. Research projects that are completed or close to completion (e.g., projects for which a working paper has been already circulated and/or presented at conferences/seminars, etc.) will not be considered.
  2. Successful applicants will receive an honorarium, taking into account the seniority and the research qualification of the researcher, and reimbursement of travel and accommodation expenses in Hong Kong for a short visit to the Institute.
  3. The studies will have to be completed within 6 months from a mutually agreed commencement date.
  4. The completion of a research project requires (i) the submission of a paper for publication in the HKIMR working paper series (after an external and internal review) and (ii) the provision of a presentation on the proposed research through a seminar (conducted either in person or virtually).
  5. The papers produced, partly or wholly under the visiting research programme, are required to acknowledge the financial support of the HKIMR if the papers are submitted to any journals.
  6. Note that submissions are not grant applications; therefore, requests for research support, data purchase and multi-year research work will not be entertained.
  7. Given the special circumstances due to the current COVID-19 pandemic, until travel conditions normalize, accepted proposals, upon mutual agreement, can be completed remotely without visits to the HKIMR (presentations of conducted research will be provided through webinars).

Submission Guidelines