Xuan Wang

Xuan Wang

Doctoral Candidate

  • xuan.wang@sbs.ox.ac.uk

Saïd Business School
University of Oxford
Park End Street


Xuan started his doctorate in Financial Economics in October 2015.

Xuan Wang is reading for a DPhil in Financial Economics at Saïd Business School, University of Oxford. Xuan is a job market candidate. His research is under the supervision of Professor Dimitrios P. Tsomocos and Professor Oren Sussman.

His recent work studies:

  • Debt restructuring in a currency union in the absence of fiscal union
  • Financial stability and endogenous liquidity at the low interest rate environment
  • Bank credit and default in infinite horizon

Xuan's job market paper is 'When Do Currency Unions Benefit From Default?'.

Research interests include international finance, macro-finance, financial intermediation, money and default, macroeconomics.

His studies are funded by the Clarendon Scholarship and Saïd Foundation Scholarship. He is a member of Exeter College and a lecturer in Economics at Magdalen College, University of Oxford.

Prior to starting his DPhil, Xuan worked as an economist at the Bank of England. He previously received his MPhil in Economics with Distinction from University of Oxford, co-supervised by Professor Dimitrios Tsomocos, at Saïd Business School.



Conference presentations Xuan participated in include but are not limited to:

  • London FIT (Financial Intermediation Theory) Workshop
  • 34th Conference of the European Economic Association (2019 EEA-ESEM, scheduled)
  • 2019 Econometric Society Meeting(Rabat)
  • 19th Annual Conference of Society for the Advancement of Economic Theory (SAET)
  • 3rd Research Conference on Macroeconomic Modelling and Model Comparison (CEPR MMCN)
  • 8th Oxford Financial Intermediation Theory Conference (OxFIT) (discussion, scheduled)
  • 50th Anniversary Conference of the Money, Macro, & Finance Research Group
  • CFM/LSE London Macro Workshop*
  • 2019 Annual Conference of the Royal Economic Society General Session (RES)
  • Oxford NuCamp - Saïd Macro-finance Conference
  • AFA conference (poster)
  • Macro/International Workshops, University of Warwick
  • Saïd Business School FAME seminar, University of Oxford
  • HEC Paris Finance PhD workshop
  • Financial Economics seminar at University of Chinese Academy of Sciences (CAS)
  • IFABS Asia Conference


Xuan has also co-organised the Oxford NuCamp-Saïd Macro-finance Conference (April 2019), the Inaugural Oxford Saïd Macro-Finance Workshop on Money Creation (April 2018) and the inaugural Oxford Inter-departmental Macro-Finance Doctoral Research Workshop (May 2019). Xuan is also in the programme committee of the 8th Oxford Financial Intermediation Theory Conference (OxFIT) this summer.


Summary of Xuan’s current projects:

Summary of Xuan’s current projects:

  • 'When Do Currency Unions Benefit From Default?' (Job market paper; draft coming soon)
  • Financial Stability, Endogenous Liquidity, and Monetary Policy Transmission in a Low Interest Rate Environment, jointly with Dimitrios P. Tsomocos, 2019 (draft available upon request)
  • Banks, Money, and the Zero Lower Bound on Deposit Rates, jointly with Michael Kumhof, Bank of England staff working paper No. 752, Saïd Business School Oxford Working Papers, 2018-16 (submitted) 
  • ​​Debt Restructuring in the Eurozone, jointly with Dimitrios. P. Tsomocos (forthcoming)
  • Bank Credit and Default in Infinite Horizon, joint with Charles A.E. Goodhart and Dimitrios P. Tsomocos (work in progress)
  • Towards Endogenising the Price of Default and the Emergence of Dominant Currencies (early stage - 2019) 
  • The 'Missing' Inflation? An Empirical Investigation via Central Bank Profits and Default Cost, joint with Xiyu Jiao (early stage)

MPhil Thesis:

A Liquidity Creation Approach to Analyse Default and Maturity Mismatch (Completed in 2014; Revise and Resubmit in the Journal of Banking and Finance - draft available upon request)


Xuan is a college lecturer in Economics at Magdalen College, Oxford, teaching undergraduate students reading Philosophy, Politics and Economics PPE, Magdalen College, Oxford. He has also taught supporting classes to:

  • DPhil level Financial Economics course
  • MPhil Economics Advanced Asset Pricing Course
  • Elective courses of MFE, MBA, EMBA, and MPP degrees.