| 消费信贷、流动性约束与城镇居民消费——基于PSTR模型的实证分析 |
| |
| 引用本文： | 封福育.消费信贷、流动性约束与城镇居民消费——基于PSTR模型的实证分析[J].统计与信息论坛,2016(12):75-81. |
| |
| 作者姓名： | 封福育 |
| |
| 作者单位： | 江西财经大学协同创新中心，江西 南昌330013; 江西财经大学经济学院，江西 南昌330013 |
| |
| 基金项目： | 国家社会科学基金项目《产业结构升级视角下中国居民消费率的决定因素研究》(11CJY076)；国家自然科学基金《社会资本视角下经济环境双赢的路径选择与对策研究》(71540025)；江西省高校人文社科项目《产业结构升级引导居民消费的作用机理、效应测度与政策选择》(JJ1509)；江西财经大学协同创新中心重点项目《战略性新兴产业发展促进居民消费的实证研究》 |
| |
| 摘 要： | 本文利用中国2004-2013年的省级数据,建立PSTR模型实证分析消费信贷对城镇居民消费影响。实证分析结果表明:城镇居民对于收入变化和消费信贷变化均具有过度敏感性,但是高收入居民的收入敏感系数和消费信贷敏感系数均低于低收入居民,而利率变动对居民消费影响并不显著。进一步分析表明,城镇居民对于收入变化和消费信贷变化具有过度敏感性并非是消费者的短视所引致,而是由于流动性约束引发的。
|
| 关 键 词： | 消费信贷 流动性约束 城镇居民消费 |
Consumption Credit,Liquidity Constraint and the Consumption of China's Rural Residents:An Empirical Analysis Based on Panel Smooth Transition Model |
| |
| Abstract: | The paper analyzes the relationship between consumption credit and the consumption of urban residents by using the pane1 data for 31 Chinese provinces during 2004-2013 with panel smooth threshold model.The result shows that urban residents have excess sensitivity of consumption to income and consumption credit,but high-income residents'income sensitivity coefficient and consumer credit sensitive coefficient is lower than low-income residents'.The study also finds that the influence of interest rate changing on consumer behavior was not significant.To further explore the cause of urban residents have excess sensitivity of consumption to income and consumption credit,we find that it results from the existence of the liquidity constraints,rather than myopia. |
| |
| Keywords: | consumption credit liquidity constraint consumption |
| 本文献已被 万方数据 等数据库收录！ |
