In this study, we estimate and investigate the evolution of monetary rules in China and the UnitedStates during the 21st century. Our aim is to examine whether financial stability has been takeninto consideration in practical monetary policy decision making. By proposing a new estimation method...

New vehicle sales in the U.S. fell nearly 40 percent during the last recession, causing significant job losses and unprecedented government interventions in the auto industry. This paper explores two potential explanations for this decline: falling home values and falling households’...

In this study, we estimate and investigate the evolution of monetary rules in China and the United States in the 21st century. Our goal is to examine if financial stability has been taken into consideration in practical monetary policy decision-making. By proposing a new estimation method that...