We adapt Joyce's theory of wall-crossing for enumerative invariants of $\mathbb C$-linear additive categories to Pandharipande-Thomas stable pairs on smooth projective Fano 3-folds of "type C or D", and investigate implications for Pandharipande-Thomas generating functions with descendent insertions.

By analyzing the wall-crossing behavior from a stability condition where pairs are unstable to the standard stability condition for PT stable pairs, we derive an explicit formula expressing the PT stable pair invariants $[P_n(X,\beta)]^{virt}$ in terms of sheaf-theoretic invariants $[\mathcal M^{ss}_{(0,0,\beta_i, n_i - \beta_i.c_1/2)}(\tau_-)]_{\rm inv}$ for the moduli space of Gieseker semistable coherent sheaves on $X$ with Chern character $(0,0,\beta_i, n_i - \beta_i.c_1/2)$.

These enumerative invariants are defined as elements in the Lie algebra on the rational Betti homology of the piecewise-linear rigidified higher moduli stack of objects in the bounded derived category of X. Under tensoring by a line bundle, we exhibit a control over the periodicity of sheaf-theoretic invariants with respect to the Euler characteristic $n_i$, which we use to show that the sheaf-theoretic invariants form a quasi-polynomial in $n_i$ of degree $2$ with period given by the divisibility of $\beta_i$ in the lattice $H_2(X,\mathbb Z)/\text{torsion}$.

We use this periodicity in the sheaf-theoretic invariants to show that the descendent generating series for Pandharipande-Thomas stable pairs is the Laurent expansion of a rational function over $\mathbb Q$ in this setting, thus confirming a conjecture due to Pandharipande-Thomas from 2007. Furthermore, we construct a counterexample to a conjecture due to Pandharipande from 2017 on the location of the poles of the descendent generating series, and give a direct proof of a slightly modified conjecture on the location of these poles using wall-crossing techniques.