住房稳定性对青年收入水平的影响--基于天津市青年群体微观调查数据的分析

Influences on the human capital and the income of the youth by housing stability: based on the analysis to Tianjin's youths

基于天津市青年群体的微观调查数据,运用普通最小二乘法(OLS)和倾向值匹配法(PSM)检验了住房稳定性对青年收入水平的影响。理论分析表明,住房稳定性通过"收入预算效应"和"交易成本效应"以及专用性投资影响青年人力资本投资回报。实证研究结果显示,通过人力资本渠道,相较于非自有产权住房青年,自有产权住房青年收入高出9.05%,倾向值匹配法的估计结果再次说明,住房稳定性对青年收入水平具有积极作用。平抑自有住房与租赁住房权益差异,建立租购并举的住房制度,有助于提高全社会的住房稳定性水平,从而提高整体收入水平。

Based on the survey data of young people in Tianjin, methods of OLS and PSM are used in this essay to check the effect of housing stability on youth income. The theo- retical analysis shows that with the mechanism of ＂income budg- et effect＂, ＂transaction cost effect＂ and specific human capital investment, housing stability will improve the return of youth ＇ s human capital investment. The empirical study shows that there is a positive effect of housing stability on the income of youth through the channel of human capital investment, the youth in- come that have houses of private ownership is 9. 05% higher than that of rental housing, and the propensity score matching （PSM） estimator confirm the result. Accordingly, reducing the difference between rental housing and private housing and mov- ing faster to put in place a housing system that encourages both housing purchase and renting will make sense to housing stability and then improve the whole income level.