Professorial Fellowship in Monetary and Financial Economics


The Reserve Bank of New Zealand | Victoria University of Wellington | School of Economics and Finance | Victoria University Foundation | New Zealand Economic Situation and Context

In 1994 the Professorial Fellowship in Monetary Economics programme at Victoria University of Wellington was set up as an initiative of the Reserve Bank of New Zealand. In 2004, the focus of the programme was widened to include financial stability issues, and the name of the programme was changed to the Professorial Fellowship in Monetary and Financial Economics.

Current and future fellows

Dirk Schoenmaker is Professor of Banking and Finance at the Rotterdam School of Management, Erasmus University Rotterdam. His research and teaching focus on the areas of central banking and financial stability, financial system architecture, European financial integration, and circular economy. He is regular speaker at academic and professional conferences.

Dirk Schoenmaker is also a Senior Fellow at the Brussels-based think tank Bruegel, a Research Fellow at the Centre for European Policy Research (CEPR), and a member of the Advisory Scientific Committee of the European Systemic Risk Board at the ECB. He is author of ‘Governance of International Banking: The Financial Trilemma’ (Oxford University Press) and co-author of the textbook ‘Financial Markets and Institutions: A European perspective (Cambridge University Press). He earned his PhD in economics at the London School of Economics.

Before joining RSM, he was Dean of the Duisenberg school of finance from 2009 to 2015. From 1998 to 2008, he served at the Netherlands Ministry of Finance. In the 1990s he served at the Bank of England. He is a regular consultant for the IMF, the OECD and the European Commission.

Professor Schoenmaker will be visiting Wellington 13 to 24 November 2017.

Contact: Emma Clark, Economics Department

Past fellows – public lectures and research

Fellows from 1995 to 2016.


The objective of the programme is to enhance the development of monetary and financial-system policy in New Zealand to the advantage of New Zealand's long term welfare by furthering thinking and debate at the professional economics level, and, in particular, by:

1) promoting wider discussion of, and constructive challenge to, the Reserve Bank's thinking in the areas of monetary economics and financial-system policy; and

2) encouraging debate among university academics and policy advisers in the monetary and macroeconomic fields and in the financial stability field.

Funding and management

The programme is funded by the Reserve Bank of New Zealand through the Victoria University Foundation, which manages the programme. The Management Committee comprises representatives from the Reserve Bank, Victoria University's School of Economics and Finance, and the Victoria University Foundation, and independent members from the financial community.

Selection of Professorial Fellows

The fellowship position is staffed by specialists in monetary and financial economics of high international repute selected according to:-

  • their ability to contribute best to the above objectives
  • the extent of international recognition of their contribution in the field of monetary and/or financial economics, with a high weighting put on the relevance of their contribution to the practice of policy.
  • their demonstrated ability to communicate orally and in writing such that their contributions can readily be understood by those engaged in monetary and financial-system policy and practice in New Zealand
  • the extent to which their area of expertise and interest adds to the pool of knowledge in New Zealand

Duties of the Professorial Fellow

In general, the duties typically involve a mixture of:

  • original research of relevance to New Zealand
  • presentation of a public lecture
  • presentation of additional lectures and seminars to monetary policy and financial stability specialists, within and outside academe, in order to stimulate, educate and generally promote thinking on monetary policy and policy and financial stability issues
  • advice on, or supervision of, research by university staff and graduate or post-graduate students.

Some presentations take place at universities other than Victoria.


Professorial fellows are remunerated at a rate that is competitive in the market in which the fellow is normally employed. Travel and accommodation expenses are provided for, together with auxiliary expenses.

Living in New Zealand

Read about living in Wellington on the WREDA website.


Fellowships are for durations ranging from two weeks to six months according to the availability of the fellow and requirements of the programme.