Empirical Study on the Relationship between Income and Consumption of Rural Residents in Hebei Province

Based on the relevant data of the actual income and consumption of rural residents in Hebei Province from 1983 to 2007,the relationship between actual income and consumption of rural residents was tested by applying the co-integration theory and Granger causality test.The result shows that there is long-term stable equilibrium relationship between the net Income per capita and consumption expenditure per capita of rural residents in Hebei Province from 1983 to 2007;the result of Granger causality test shows that the actual Income of rural residents in Hebei Province has significant impact on the actual consumption,but the impact is weakened gradually;in short term,the impact of the actual consumption on the actual income is not so significant,but the impact will become significant gradually as time goes on.During the process of the mutual impact and function of the actual income and consumption of rural residents in Hebei Province,the impact of the actual income of rural residents on the actual consumption is mainly represented in short term;in middle term,the interactions between the actual Income and actual consumption are significant;in long term,the impact of the actual consumption on the actual income is mainly displayed.According to the result,in short term the government in Hebei Province can expand consumption through increasing the income of rural residents,while in long term the government can drive the economic growth by expanding domestic demands.

Influence of Aging Trend on Consumption Rate of Rural Residents--Empirical Analysis Based on Provincial Panel Data

Population is a basic factor that affects consumption of residents. In China,insufficient demand of residents,especially low consumption demand of rural residents,directly weakens the promotion of consumption for economic growth. This drives the study on the relationship between the aging trend and consumption of rural residents. In this paper,the current situation of population aging in China was firstly analyzed. Then a dynamic macroeconomic model was established using the cointegration theory and selecting related time series data such as per capita consumption expenditure of rural residents( Con),per capita net income of rural residents( Rev),urban-rural income gap( RU),children dependency ratio( CDR),and old-age dependency ratio( ODR),to test the correlation between variables. The results show that the decline in the children dependency ratio promotes the increase of consumption willingness of rural residents,while the rise in the old-age dependency ratio inhibits the consumption willingness of rural residents. Finally,it came up with pertinent recommendations for guiding and promoting the consumption level of rural residents in China.

The Influence of Economic Policy Uncertainty and Habit Formation on Rural Residents’ Consumption

Based on the household survey data of rural residents in 30 provinces(cities,districts)of China from 1995 to 2019,this paper constructs an econometric model of farmers’consumption behavior with habit formation and economic policy uncertainty,and makes an empirical analysis of farmers’consumption behavior by using sys-gmm estimation method.The results show that:since the reform and opening up,the changes of Chinese farmers’consumption behavior not only show excessive sensitivity to income changes on the whole,but also show a significant habit forming effect,and the existence of habit effect will reduce the impact of economic policy uncertainty on consumption;there is a large gap between regions,and the consumption in the western region is affected by the uncertainty of economic policy,the impact is greater.Therefore,the government should pay attention to the impact of economic shock on consumption,maintain the systematicness and stability of the policy,enhance the stability,continuity and accuracy of the policy,drive the development of the western region,build a long-term policy mechanism to promote the sustained and rapid increase of farmers’income,and further change farmers’consumption concept.