基本养老保险对居民家庭消费的影响——基于中国家庭金融调查(CHFS)数据的实证分析

The Impact of Basic Pension Insurance on Household Consumption——Empirical Analysis Based on Chinese Household Finance Survey(CHFS)Data

当前针对养老保险与居民家庭消费间关系的研究未有定论。以基本养老保险为切入,基于2017年中国家庭金融调查数据(CHFS),通过实证分析探讨基本养老保险对居民家庭消费的影响。计量模型结果显示:基本养老保险对居民家庭消费有轻微的挤出效应,且对不同类型的消费影响程度有差异。家庭收入是影响消费的主要因素,婚姻状况和教育程度在一定程度上刺激家庭消费,较差的健康状况会抑制家庭消费。相较于非农户口,农村户口对部分家庭消费有负向影响。

There is currently no conclusive research on the relationship between pension insurance and household consumption among residents.Based on the 2017 China Household Finance Survey(CHFS)data,this study explores the impact of basic pension insurance on household consumption through empirical analysis.The econometric model results show that basic pension insurance has a slight crowding out effect on household consumption,and the degree of impact on different types of consumption varies.Family income is the main factor affecting consumption,while marital status and education level to some extent stimulate household consumption.Poor health conditions can suppress household consumption.Compared to non agricultural household registration,rural household registration has a negative impact on some household consumption.