摘要
文章利用1998-2008年的城乡省际面板数据,建立包含习惯形成、不确定性和流动性约束在内的动态面板模型并对其进行实证分析。实证分析的结果表明习惯形成对于城乡居民的消费具有显著性影响;不确定性对于城镇居民的消费增长具有显著的影响,对于农村居民的影响不显著;城乡居民的消费具有过度敏感性;城镇居民的实证结果支持"前景理论",不支持流动性约束理论,农村居民的实证结果支持"短视行为"理论。
In the paper I have established the dynamic panel model including the Habit Formation, Uncertainty and Liquidity Constraints and empirically tested the model by using the provincial level panel data from 1998 to 2008. The result has shown that the Habit Formation has a remarkable influence on the consumption of the rural and urban inhabitants ; the Uncertainty has a distinct influence on the consumption of rural inhabitants, but it has an indistinctive influence on the rural inhabitants; the consumption of rural and urban inhabitants has excessive sensitivity; the consumption of urban inhabitants supports'the Prospect Theory' but fails to support" the Liquidity Constraint theory", and the consumption of rural inhabitants supports the theory of "Short Termism".
出处
《商业经济与管理》
CSSCI
北大核心
2010年第3期58-63,共6页
Journal of Business Economics
关键词
习惯形成
不确定性
流动性约束
habit formation
uncertainty
liquidity constraint