## Tao Wu

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### Professional Experience
- Senior Economist, International Monetary Fund, 2010-present
- Policy Advisor, Federal Reserve Bank of Dallas, 2008 – 2010
- Senior Research Economist, Federal Reserve Bank of Dallas, 2006 – 2008
- Research Economist, Federal Reserve Bank of San Francisco, 2001 – 2006

### Editorial and Visiting Positions
- Associate Editor, Journal of Money, Credit, and Banking, 2010 – 2015.
- Visiting Fellow and Visiting Scholar at:
  - Bank of England (2004, 2005, 2008, 2010)
  - Oxford University (2008, 2010)
  - University of Tokyo (2007)
  - Bank of Japan (2006, 2007)
  - Hong Kong Monetary Authority (2006)
  - Bank for International Settlements (2005)

### Academic Degrees
- Ph.D., Economics, Yale University, 2001. Research fields: Macroeconomics, Financial Economics, Time Series Econometrics.
- Master, Economics, Wuhan University, China, 1995. Specialization: Economic Development.
- Bachelor, Economics, Wuhan University, China, 1992. Specialization: Chinese Economy and Economic Reform.

### Honors and Awards
- “Top 200 Young Economists” by IDEAS/RePEC (ranked # 63), 2009, 2010.
- Best Paper Prize, awarded by the Royal Economic Society for the best paper published in the Economic Journal in 2008.
- Carl A. Anderson Doctoral Dissertation Fellowship, 2000-2001.
- Yale University Fellowship, 1996-2000.
- Ford Foundation Fellowship, Yale University, 1996.

### Publications in Refereed Journals and Volumes
- “The U.S. Money Market and the Term Auction Facility in Financial Crisis of 2007-2009,” 2011. Review of Economics and Statistics, Volume 93, No. 2, 617-631.
- “Regulation and the Neo-Wicksellian Approach to Monetary Policy” (with John Duca), 2008. Journal of Money, Credit, and Banking, Volume 41, Issue 4, 799-807.
- “A Macro-Finance Model of the Term Structure, Monetary Policy, and the Economy” (with Glenn Rudebusch), 2008. Economic Journal, Volume 118, 1-21. Lead article. Awarded the Best Paper Prize by the Royal Economic Society for the best paper published in 2008.
- “The Recent Shift in Term Structure Behavior from a No-arbitrage Macro-Finance Perspective,” (with Glenn Rudebusch), 2007. Journal of Money, Credit, and Banking, Volume 39, Number 2, 395-422.
- “Time-Varying Equilibrium Real Rates and Monetary Policy Analysis” (With Bharat Trehan), 2007. Journal of Economic Dynamics and Control, Volume 31, 1584-1609.
- “The Bond Yield ‘Conundrum’ from a Macro-Finance Perspective” (with Glenn Rudebusch and Eric Swanson), 2006. Monetary and Economic Studies, Volume 24, No. S-1, 83-109.
- “Macro Factors and the Affine Term Structure of Interest Rates,” 2006. Journal of Money, Credit, and Banking, Volume 38, Number 7, 1847-1875.
- “Stylized Facts on Nominal Term Structure and Business Cycles: An Empirical VAR Study,” Applied Economics, Volume 35, Number 8, May 2003.

### Published Books (Chapter)
- “Fiscal Governance in the Euro Area: Progress and Challenges” (with Luc Eyraud), Chapter 8 of The Mechanics of A Strong Euro Area, edited by Petya Brooks and Mahmood Pradhan, IMF Press, 2015, 149-170.

### Federal Reserve Publications
- “The Term Auction Facility’s Effectiveness in the Financial Crisis of 2007–09,” Economic Letter, Federal Reserve Bank of Dallas, Volume 5, Number 4, 2010.
- “Accounting For the Bond-Yield Conundrum,” Economic Letter, Federal Reserve Bank of Dallas, Volume 3, Number 2, 2008.
- “Moderate Economic Growth, Subsiding Inflation” Expand Your Insight: National Update, Federal Reserve Bank of Dallas, November 2007.
- “Economic Growth Remains Moderate,” Expand Your Insight: National Update, Federal Reserve Bank of Dallas, September 2007.
- “Globalization’s Effect on Interest Rates and the Yield Curve,” Economic Letter, Federal Reserve Bank of Dallas, Volume 1, Number 9, 2006.
- “Modest Growth, Moderating Inflationary Pressures,” Expand Your Insight: National Update, Federal Reserve Bank of Dallas, December 2006.
- “The National Economy: Slower Growth, Moderating Inflationary Pressure,” Expand Your Insight: National Update, Federal Reserve Bank of Dallas, October 2006.
- “Do Oil Futures Prices Help Predict Future Oil Prices?” (with Andrew McCallum), FRBSF Economic Letter, issue 38, 2005.
- “Estimating the ‘Neutral’ Real Interest Rate in Real Time,” FRBSF Economic Letter, issue 27, 2005.
- “The Long-term Interest Rate Conundrum: Not Unraveled Yet?” FRBSF Economic Letter, issue 8, 2005.
- “Two Measures of Employment: How Different Are They?” FRBSF Economic Letter, issue 23, 2004.
- “Interest Rates and Monetary Policy: Conference Summary” (with Richard Dennis), FRBSF Economic Letter, issue 13, 2004.
- “Understanding Deflation,” FRBSF Economic Letter, issue 8, 2004.
- “Improving the Way We Measure Consumer Prices,” FRBSF Economic Letter, issue 24, 2003.
- “What Makes the Yield Curve Move?” FRBSF Economic Letter, issue 15, 2003.
- “Macroeconomic Models for Monetary Policy” (with Glenn Rudebusch), FRBSF Economic Letter, issue 11, 2002.

### Working Papers
- “The Effectiveness of ‘Forward Guidance’ during the Great Recession,” manuscript, 2015.
- “Playing by the Rules: Reforming Fiscal Governance in Europe,” IMF Working Paper, 2014.
- “Unconventional Monetary Policy and Long-term Interest Rates,” IMF Working Paper, 2013. Revised and resubmitted to Journal of Money, Credit, and Banking.
- “Measuring Oil-Price Shocks Using Market-Based Information” (with Michele Cavallo), IMF working paper, 2010.
- “An Asset Pricing Model of Inflation Swap Contracts,” manuscript, Bank of England, 2005.
- “Monetary Policy and the Slope Factors in Empirical Term Structure Estimations,” Federal Reserve Bank of San Francisco Working Paper Series, 2002-07.
- “Financial Constraints and Corporate Investment: A Second Look,” manuscript, Yale University, 1998.

### Refereeing Activities
- Refereed for: American Economic Review; Business Economics; Economic Journal; International Economic Review; International Journal of Central Banking; Journal of Economic Dynamics and Control; Journal of Business and Economic Statistics; Journal of Econometrics; Journal of Financial and Quantitative Analysis; Journal of International Economics; Journal of Monetary Economics; Journal of Money, Credit and Banking; Journal of Political Economy; Quarterly Review of Economics and Finance; Review of Economics and Statistics; Review of Financial Studies.

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_Source: https://www.imf.org/-/media/files/cv/pdfs/tao-wu.pdf_