收入差距与社会地位寻求:一个高储蓄率的原因

Income Inequality,Status Seeking,and Consumption

我们使用中国城镇住户调查数据证实：在控制家庭收入之后，收入差距仍然会显著减少家庭除教育以外的消费。我们还发现收入差距对低收入或年轻家庭的消费抑制更加明显，但能刺激教育投资的上升。这很可能来源于为提升社会地位而储蓄的动机。更高的社会地位可以带来各种物质或非物质上的收益。而社会不平等的增加意味着进入社会上层可以获得更高的收益，同时提升地位需要更多的财富。这些都可能加强人们为提高社会地位而储蓄的激励。

Using Chinese urban household survey data, we find that income inequality has a negative （positive） impact on households＇ consumption （savings）, even after controlling family income. We argue that people save to improve their social status when social status is associated with pecuniary and non-pecuniary benefits. Rising income inequality can strengthen the incentives of status-seeking savings by increasing the benefits of improving status and enlarging the wealth level that is required for status upgrading. We also find that the negative effect on consumption is stronger for poorer and younger people, and income inequality stimu- lates more educational investment, all consistent with the status seeking hypothesis.