This paper examines the 1994 inflation in China, which occurred at a time when the government was vigorously conducting macroeconomic contraction. The event deserves more attention for both academic and policy research reasons. The paper shows that the inflation was led by food price increases,...

Most economics literature holds that the disparity in income and health resource allocation between China's urban and rural areas has been increasing since the beginning of the reform period in 1978. This paper argues, contrary to the conventional view, that the real gap in health resources...

It can be proved theoretically that, because of the previously existing price and structural distortion, a welfare paradox is possible in the former command economies during the transition period. This paradox refers to a situation in which a welfare gain is accompanied by a fall in the reported...