Yudong Rao
Ph.D. candidate at Washington University in St. Louis
Ph.D. candidate at Washington University in St. Louis
Truth Seeker (Kristin Vestgard)
Yudong Rao
Hi, welcome to my personal website!
I am a Ph.D. candidate in Economics at Washington University in St. Louis, with prior experience at the International Monetary Fund (IMF), where I worked as a PhD Intern in the Expenditure Policy Division of the Fiscal Affairs Department (Summer 2024) and as a Research Analyst in the Lending Division of the Strategy, Policy, and Review Department (2019–2022).
Before my PhD, I also gained experience across several industries, including technology (IBM, 2016), journalism (2018), and the film industry (Delirio Films, 2016). I completed my undergraduate studies in Accounting at the University of Iowa and earned a master’s degree from the Dyson School of Applied Economics and Management at Cornell University.
My research interests include:
Macroeconomics
Monetary economics
International economics
Banking and financial institutions
Financial markets
Digital assets, with a focus on stablecoins
https://swaplinewatch.com
Evolution of Bilateral Swap Lines (with Michael Perks, Jongsoon Shin, and Kiichi Tokuoka) [link] (being cited by The Economist , The Wall Street Journal, and the IMF Blog in ‘Dollar Dominance and the Rise of Nontraditional Reserve Currencies’) IMF Working Paper No. 2021/210
Global Pension Reform Database 1952 – 2025: From Narrative to Data. (with Boele Bonthuis)
Presented at IMF Fiscal Affairs Department (FAD) Seminar June 2025. Contributed to the Fiscal Monitor, April 2025.
FHLB as Lender of First Resort: The Good, the Bad and the Ugly. (Solo)
Presented at the 2025 Finance Theory Group (FTG) Summer School, University of Washington, Seattle, WA; the 2026 AFA PhD Student Poster Session, Philadelphia, PA, travel grant recipient; the 2026 Asia Meeting of the Econometric Society, Abu Dhabi, United Arab Emirates; and the 2026 North American Summer Meeting, Atlanta, GA.
Stablecoins, Banks, and Credit. (Solo)