In 2015,the Central Bank cut interest rates six times in a row.There are two main purposes.The first is to reduce the interest burden on corporate loans,and stimulate corporate investment.The second is to reduce inter...In 2015,the Central Bank cut interest rates six times in a row.There are two main purposes.The first is to reduce the interest burden on corporate loans,and stimulate corporate investment.The second is to reduce interest income on residential deposits,and stimulate residents to increase current consumption.However,many empirical data prove that although the effect of interest rate decline on stimulating corporate investment is more obvious,the effect of stimulating residents to increase current consumption is not obvious,and household savings continue to grow rapidly instead.This shows that the main factor affecting the current consumption of residents is no longer the bank's deposit interest rate,but the irreplaceability of future consumer goods for current consumer goods,income restrictions and other economic factors that can affect cross-time consumption.Based on the theory of intertemporal utility maximization,this paper analyzes the impact of the rate change on China's residents' consumption,looks for the reasons why residents' consumption is not sensitive to changes in the rate,and puts forward corresponding countermeasures and suggestions.展开更多
In 2015, The Central Bank cut interest rates six times in a row. There are two main purposes: one is to reduce the interest burden on corporate loans, and stimulate corporate investment. Second, to reduce interest inc...In 2015, The Central Bank cut interest rates six times in a row. There are two main purposes: one is to reduce the interest burden on corporate loans, and stimulate corporate investment. Second, to reduce interest income on residential deposits, and stimulate residents to increase current consumption. However, many empirical data prove that although the effect of interest rate decline on stimulating corporate investment is more obvious, the effect of stimulating residents to increase current consumption is not obvious, and household savings continue to grow rapidly. This shows that the main factor affecting the current consumption of residents is no longer the bank's deposit interest rate, but the irreplaceability of future consumer goods for current consumer goods, income restrictions and other economic factors that can affect cross-time consumption. This paper is based on the theory of intertemporal utility maximization. The empirical analysis of the impact of the rate change on China's residents' consumption, looking for the reasons why residents' consumption is not sensitive to changes in the rate, and put forward corresponding countermeasures and suggestions.展开更多
At first glance, the official figures of China's oil consumption in 2005 seem a bit confusing. With a robust economic growth and rising annual oil imports, China made the surprise announcement that its oil consump...At first glance, the official figures of China's oil consumption in 2005 seem a bit confusing. With a robust economic growth and rising annual oil imports, China made the surprise announcement that its oil consumption growth rate was dropping sharply, from 15.3 percent in 2004 to 2.1 percent in 2005. Earlier, China's Ministry展开更多
文摘In 2015,the Central Bank cut interest rates six times in a row.There are two main purposes.The first is to reduce the interest burden on corporate loans,and stimulate corporate investment.The second is to reduce interest income on residential deposits,and stimulate residents to increase current consumption.However,many empirical data prove that although the effect of interest rate decline on stimulating corporate investment is more obvious,the effect of stimulating residents to increase current consumption is not obvious,and household savings continue to grow rapidly instead.This shows that the main factor affecting the current consumption of residents is no longer the bank's deposit interest rate,but the irreplaceability of future consumer goods for current consumer goods,income restrictions and other economic factors that can affect cross-time consumption.Based on the theory of intertemporal utility maximization,this paper analyzes the impact of the rate change on China's residents' consumption,looks for the reasons why residents' consumption is not sensitive to changes in the rate,and puts forward corresponding countermeasures and suggestions.
文摘In 2015, The Central Bank cut interest rates six times in a row. There are two main purposes: one is to reduce the interest burden on corporate loans, and stimulate corporate investment. Second, to reduce interest income on residential deposits, and stimulate residents to increase current consumption. However, many empirical data prove that although the effect of interest rate decline on stimulating corporate investment is more obvious, the effect of stimulating residents to increase current consumption is not obvious, and household savings continue to grow rapidly. This shows that the main factor affecting the current consumption of residents is no longer the bank's deposit interest rate, but the irreplaceability of future consumer goods for current consumer goods, income restrictions and other economic factors that can affect cross-time consumption. This paper is based on the theory of intertemporal utility maximization. The empirical analysis of the impact of the rate change on China's residents' consumption, looking for the reasons why residents' consumption is not sensitive to changes in the rate, and put forward corresponding countermeasures and suggestions.
文摘At first glance, the official figures of China's oil consumption in 2005 seem a bit confusing. With a robust economic growth and rising annual oil imports, China made the surprise announcement that its oil consumption growth rate was dropping sharply, from 15.3 percent in 2004 to 2.1 percent in 2005. Earlier, China's Ministry
