家庭收入结构与财富分布:基于中国居民家庭微观调查的实证分析

Household Income Structure and Wealth Distribution:Empirical Analysis Based on Chinese Household Micro Survey

现阶段对家庭收入结构的研究主要关注财产性收入的水平和占比,这一指标体现了家庭对资本市场的利用程度。通过对中国居民家庭微观调查数据的实证分析我们发现,财富较高的家庭拥有的狭义和广义财产性收入都显著地高于财富较低的家庭,并且这种正向影响在财产性收入较高的家庭更大。这一结论表明财富较高的家庭更能够地从资本市场上获利,这可能是财富分布日益集中的原因之一。政府应该通过合理的措施鼓励低财富的家庭更好地利用市场获得财产性收入,改善家庭收入结构,促进经济的良性循环。

Studies about household income structure mainly focus on the level of capital income and its fraction in total income, which imply the exploitive extent of capital market by households. By empirical analysis of the Chinese household micro survey we find that, families with higher wealth tend to own significantly more capital income in both narrow and broad sense. The effect is bigger for families with higher capital income. It shows that the wealthier families can get more profits from the capital market and this is probably one of the reasons that distribution of wealth becomes increasingly concentrated. Government should encourage the less wealthy families to take better advantage of the market to get capital income and improve income structure,promoting the development of national economy.