The Fellowship Award provides financial support to academics who are recognized for their expertise and research in areas important to the Bank's core functions.
The award consists of:
- a research grant of $50,000 per year per recipient
- a research expense allowance of $40,000 per year per recipient, for related research expenses and for research assistants
- a sum of $5,000 for the university for administration of the award funds
The award is for a term of up to five years, and is subject to an annual review and confirmation process.
Universities may nominate one candidate per faculty or school (for example, one candidate from their business school and one from their economics department).
Universities may nominate award recipients for a second term.
Fellowship Award nominees are required to:
- be Canadian citizens, permanent residents of Canada, or be otherwise legally permitted to work in Canada
- conduct and support research in Canada (nominations where the preponderance of the research is in Canada could also be considered)
- have obtained a PhD
- be employed by a Canadian university in a tenure or tenure-track position during the term of the Fellowship Award
Eligible nominees will be considered by the Fellowship Nominating Committee (see Terms of Reference). This Committee provides recommendations to the Bank's Governing Council who will make the final decision.
The selection criteria used to assess eligible nominations includes:
- excellence and innovation in the nominee’s work, as indicated by publications of refereed and other articles as well as citations and references (i.e., commentaries/critiques); other research outputs; awards; recognition by peers
- the letter of support by the university and the reference letters
- applicability to Bank of Canada policy development and/or research, as indicated in a match of the nominee's written work and research plan with Bank plans and priorities; and as expressed in the nomination materials
- potential to continue to achieve recognition as a leader in the specified fields as indicated by consistent high-quality work in publications and presentations
- potential to contribute to the education and development of new researchers
The announcement of a Fellowship Award will be in March or early April.
Recipient Terms and Conditions
Recipients of the Fellowship Award will be required to abide by the following terms and conditions. More detailed information will be provided to recipients and their nominating universities.
Collaboration with Bank Researchers
Recipients are expected to collaborate periodically with Bank research staff by, for example, co-authoring papers, conducting seminars, commenting on research papers or proposals, etc.
Recipients are expected to participate in an annual Learning Exchange during the term of their award, at the Bank of Canada’s head office in Ottawa.
Annual Review and Confirmation
The Fellowship Award is subject to an annual review and confirmation by the Bank’s Governing Council for the term of the award. This happens in the fall and includes providing an update of the recipient’s research plan. Recipients will be contacted by the Fellowship Secretariat with the requirements.
Dinner with the Board of Directors
In the fall of the first year of their Award, Fellowship award recipients are invited to a dinner with the Bank’s Board of Directors.
Canadian Economics Association speech
Fellowship award recipients are required to speak at the Canadian Economics Association annual meeting one time during their Fellowship term.
Fellowship award recipients must grant permission to the Bank of Canada to publicly communicate their names and qualifications.
Recipients must abide by the “Tri-Agency Framework: Responsible Conduct of Research” with respect to integrity in research and scholarship, and to non-discrimination.