TengTeng Xu
Last Updated: November 11, 2024
TengTeng Xu is a Deputy Division Chief in the Monetary and Macroprudential Policies Division of the Monetary and Capital Markets Department at the IMF. Previously, she was a senior economist in the Asia Pacific Department at the IMF, where she was Mission Chief for Nauru and senior desk for Japan, India, and Bhutan. She also participated in the Financial Sector Assessment Programs (FSAP) of Germany, Spain, and Poland in the Monetary and Capital Markets Department and worked on the IMF Program on Romania in the European Department. Prior to joining the IMF, Ms. Xu was a senior analyst in the International Economic Analysis Department at the Bank of Canada, covering China and Japan. She also worked at the Inter-American Development Bank, the Organisation for Economic Co-operation and Development (OECD), Goldman Sachs, and Morgan Stanley. She holds a Ph.D. in Economics from the University of Cambridge, and an M.Phil. in Economics and a B.A. (First Class Honours) in Mathematics and Statistics from the University of Oxford.
Fluent In: Chinese.
Education:
Ph.D. Economics, University of Cambridge, 2011
M.Phil. Economics, University of Oxford, 2007
B.A. (First Class Honours) Mathematics and Statistics, University of Oxford, 2005
Previous Experience:
Bank of Canada, Senior Analyst, International Economic Analysis Department, 2011-2013
Inter-American Development Bank, Consultant, Research Department, 2009-2010
Organization for Economic Co-operation and Development, Consultant, Directorate for Science, Technology and Industry, 2007
Morgan Stanley, Economist Intern, Economics Research Department, 2007
Goldman Sachs, Intern, Economics Research Department (2006), Fixed Income, Currency and Commodities (2005)
Country work or Mission Assignment:
Nauru Article IV, 2022 - 2024 (Mission Chief)
Japan Article IV, 2022 - 2024
India Article IV, 2020 - 2022
Bhutan Article IV, 2020 - 2022
Poland Financial Sector Assessment Program, 2017 - 2019
Spain Financial Sector Assessment Program, 2016 - 2017
Germany Financial Sector Assessment Program, 2015 - 2016
Indonesia Technical Assistance, 2015 - 2016
Romania Article IV and Program Reviews, 2013 - 2015
IMF Career:
Monetary and Capital Markets Department, Deputy Division Chief, 2024 to Present
Asia Pacific Department, Senior Economist/Economist, 2020-2024
Monetary and Capital Markets Department, Economist, 2015-2020
European Department, Economist, 2013-2015
Asia Pacific Department, Summer Intern, 2008
Field of Expertise:
Banking
Macro-Financial Issues
International Finance
Economic Modeling
IMF Books and Working Papers:
Unleashing India’s Growth Potential , Working Paper No. 2023/082 , April 21, 2023
Financial Sector and Economic Growth in India , Working Paper No. 2022/137 , July 08, 2022
Corporate Sector Resilience in India in the Wake of the COVID-19 Shock , Working Paper No. 2021/278 , November 19, 2021
State-Level Health and Economic Impact of COVID-19 in India , Working Paper No. 2021/279 , November 19, 2021
Interconnectedness and Contagion Analysis: A Practical Framework , Working Paper No. 19/220 , October 11, 2019
Bank Profitability and Financial Stability , Working Paper No. 19/5 , January 11, 2019
Interconnectedness of Global Systemically-Important Banks and Insurers , Working Paper No. 17/210 , September 29, 2017
Wage Moderation in Crises : Policy Considerations and Applications to the Euro Area , Staff Discussion Notes No. 15/22 , November 17, 2015
What Drives China's Interbank Market? , Working Paper No. 09/189 , September 01, 2009
IMF Country Reports
Japan: Staff Report for the 2024 Article IV Consultation, IMF Country Report No. 24/118, 2024
Nauru: Staff Report for the 2023 Article IV Consultation, IMF Country Report 23/376, 2023
Japan: Staff Report for the 2023 Article IV Consultation, IMF Country Report No. 23/127, 2023
India: Staff Report for the 2022 Article IV Consultation, IMF Country Report No. 22/386, 2022
India: Staff Report for the 2021 Article IV Consultation, IMF Country Report No. 21/230, 2021
Poland FSAP: Financial System Stability Assessment, IMF Country Report No. 19/39, 2019
Spain FSAP Technical Note: Determinants of Bank Profitability, IMF Country Report No. 17/339, 2017
Spain FSAP: Financial System Stability Assessment, IMF Country Report No. 17/321, 2017
Germany FSAP: Financial System Stability Assessment, IMF Country Report No. 16/189, 2016
Romania: Staff Report for the 2015 Article IV Consultation, IMF Country Report No. 15/79, 2015
Romania: First and Second Reviews Under the Stand-By Arrangement, IMF Country Report No. 14/87, 2014
IMF Occasional Papers, Pamphlets, and Special Issues Papers
Startups and Venture Capital in Japan: How to Grow, Japan Article IV Selected Issues Paper, 2024
Japan's Fertility, Japan Article IV Selected Issues Paper, 2024
Exchange Rate Pass-Through and Inflation Targeting, Romania Article IV Selected Issues Papers, 2015.
Publications in Journals (Refereed)
Other Published Materials
The Role of Credit in International Business Cycles, Bank of Canada Working Papers 12-36, Nov 2012.
TengTeng Xu is a Deputy Division Chief in the Monetary and Macroprudential Policies Division of the Monetary and Capital Markets Department at the IMF. Previously, she was a senior economist in the Asia Pacific Department at the IMF, where she was Mission Chief for Nauru and senior desk for Japan, India, and Bhutan. She also participated in the Financial Sector Assessment Programs (FSAP) of Germany, Spain, and Poland in the Monetary and Capital Markets Department and worked on the IMF Program on Romania in the European Department. Prior to joining the IMF, Ms. Xu was a senior analyst in the International Economic Analysis Department at the Bank of Canada, covering China and Japan. She also worked at the Inter-American Development Bank, the Organisation for Economic Co-operation and Development (OECD), Goldman Sachs, and Morgan Stanley. She holds a Ph.D. in Economics from the University of Cambridge, and an M.Phil. in Economics and a B.A. (First Class Honours) in Mathematics and Statistics from the University of Oxford.
Fluent In: Chinese.
Education:
Ph.D. Economics, University of Cambridge, 2011
M.Phil. Economics, University of Oxford, 2007
B.A. (First Class Honours) Mathematics and Statistics, University of Oxford, 2005
Previous Experience:
Bank of Canada, Senior Analyst, International Economic Analysis Department, 2011-2013
Inter-American Development Bank, Consultant, Research Department, 2009-2010
Organization for Economic Co-operation and Development, Consultant, Directorate for Science, Technology and Industry, 2007
Morgan Stanley, Economist Intern, Economics Research Department, 2007
Goldman Sachs, Intern, Economics Research Department (2006), Fixed Income, Currency and Commodities (2005)
Country work or Mission Assignment:
Nauru Article IV, 2022 - 2024 (Mission Chief)
Japan Article IV, 2022 - 2024
India Article IV, 2020 - 2022
Bhutan Article IV, 2020 - 2022
Poland Financial Sector Assessment Program, 2017 - 2019
Spain Financial Sector Assessment Program, 2016 - 2017
Germany Financial Sector Assessment Program, 2015 - 2016
Indonesia Technical Assistance, 2015 - 2016
Romania Article IV and Program Reviews, 2013 - 2015
IMF Career:
Monetary and Capital Markets Department, Deputy Division Chief, 2024 to Present
Asia Pacific Department, Senior Economist/Economist, 2020-2024
Monetary and Capital Markets Department, Economist, 2015-2020
European Department, Economist, 2013-2015
Asia Pacific Department, Summer Intern, 2008
Field of Expertise:
Banking
Macro-Financial Issues
International Finance
Economic Modeling
IMF Books and Working Papers:
Unleashing India’s Growth Potential , Working Paper No. 2023/082 , April 21, 2023
Financial Sector and Economic Growth in India , Working Paper No. 2022/137 , July 08, 2022
Corporate Sector Resilience in India in the Wake of the COVID-19 Shock , Working Paper No. 2021/278 , November 19, 2021
State-Level Health and Economic Impact of COVID-19 in India , Working Paper No. 2021/279 , November 19, 2021
Interconnectedness and Contagion Analysis: A Practical Framework , Working Paper No. 19/220 , October 11, 2019
Bank Profitability and Financial Stability , Working Paper No. 19/5 , January 11, 2019
Interconnectedness of Global Systemically-Important Banks and Insurers , Working Paper No. 17/210 , September 29, 2017
Wage Moderation in Crises : Policy Considerations and Applications to the Euro Area , Staff Discussion Notes No. 15/22 , November 17, 2015
What Drives China's Interbank Market? , Working Paper No. 09/189 , September 01, 2009
IMF Country Reports
Japan: Staff Report for the 2024 Article IV Consultation, IMF Country Report No. 24/118, 2024
Nauru: Staff Report for the 2023 Article IV Consultation, IMF Country Report 23/376, 2023
Japan: Staff Report for the 2023 Article IV Consultation, IMF Country Report No. 23/127, 2023
India: Staff Report for the 2022 Article IV Consultation, IMF Country Report No. 22/386, 2022
India: Staff Report for the 2021 Article IV Consultation, IMF Country Report No. 21/230, 2021
Poland FSAP: Financial System Stability Assessment, IMF Country Report No. 19/39, 2019
Spain FSAP Technical Note: Determinants of Bank Profitability, IMF Country Report No. 17/339, 2017
Spain FSAP: Financial System Stability Assessment, IMF Country Report No. 17/321, 2017
Germany FSAP: Financial System Stability Assessment, IMF Country Report No. 16/189, 2016
Romania: Staff Report for the 2015 Article IV Consultation, IMF Country Report No. 15/79, 2015
Romania: First and Second Reviews Under the Stand-By Arrangement, IMF Country Report No. 14/87, 2014
IMF Occasional Papers, Pamphlets, and Special Issues Papers
Startups and Venture Capital in Japan: How to Grow, Japan Article IV Selected Issues Paper, 2024
Japan's Fertility, Japan Article IV Selected Issues Paper, 2024
Exchange Rate Pass-Through and Inflation Targeting, Romania Article IV Selected Issues Papers, 2015.
Publications in Journals (Refereed)
Other Published Materials
The Role of Credit in International Business Cycles, Bank of Canada Working Papers 12-36, Nov 2012.