Why don't we observe improvements in consumption smoothing as countries get more financially integrated: Bridging theory and empirics

This study provides suggestive theoretical and empirical evidence that the productivity shock correlation between a country and the rest of the world may help explain why we do not observe more consumption smoothing as countries have become more financially liberalized.     

网络游戏市场消费现状分析

文章利用2004年6月西安市网络游戏消费市场调查的数据，分析西安网络游戏的市场现状和目前网络游戏市场的不足，并针对网络运营商、开发商和网吧经营者提出一些建议，以促进网络游戏市场的健康发展。     

Attitudes and consumption values of consumers of imported fruit in Guangzhou,China

Research on how Chinese consumption values influence Chinese consumer behaviour is rare. First, this paper examines consumers’ attitudes towards the physical and intangible attributes of imported fruit. Then, it identifies consumers’ consumption values and the role of these values in purchasing behaviour. Data were collected through point of sale intercept surveys conducted in Guangzhou, China. Latent consumption values of consumers were identified through factor analysis. K‐means clustering revealed four natural groupings of consumers, each group demonstrating different consumption values. The results demonstrated the primary importance of symbolic values and hedonic values in the decision to purchase imported fruit. Such consumption values may derive from the intermingling of Confucian and Western cultural values. Results from this study could help to better understand interrelationships among product attributes, consumption values and cultural values, and could make a significant contribution in developing strategies to market imported fruit in China.     

高校消费主义的危害性及其抵御

消费主义导致大学生消费价值观取向出现偏差,使得大学生出现精神危机,让高校学生心理产生不平衡感,不和谐因素开始在校园衍生,对高校师生的思想道德建设产生重要影响.高校的当务之急是践行以"俭"为核心的消费价值观,采取包括开设消费教育课程等等在内的措施予以应对.     

Finance and consumption volatility: Evidence from India

The main objective of this paper is to explore the determinants of private consumption growth volatility in India, focusing on the role of financial sector policies. Using data for India over the period 1950-2005, the results show that the implementation of financial repressionist policies is strongly associated with lower consumption volatility. The results remain robust after controlling for a wide range of macroeconomic shocks and variables. The presence of a threshold effect implies that the benefits of financial reforms in reducing consumption volatility can only be reaped when the financial system becomes sufficiently liberalized. The results also indicate that the presence of a more open financial system may serve to dampen fluctuations in private consumption.     

建立扩大内需长效机制的财税政策研究

在后金融危机时代,扩大内需成为国家的重大战略,本文对我国的消费率进行了横向和纵向比较,主要从提高名义收入水平、减轻税收负担、调控房价等方面探讨了建立扩大内需长效机制的财税政策。并提出在保证居民消费能力的同时,还需提高中低收入居民社会保障水平,让居民既有能力消费也敢于消费。     

金融资产财富效应的形成机理研究

本文借助消费函数理论、行为金融理论分析了金融资产财富效应的形成机理,并将金融资产财富效应的传导机制归纳为实际收入效应、预期收入效应、流动性约束效应、信心效应、托宾q效应、替代效应等六种效应。除替代效应是负的财富效应外,其它效应均为正的财富效应,而金融资产财富效应的差异性既是上述各效应综合作用的结果,也是不同国家在不同时期影响金融资产变动的因素存在差异的结果。     

住房价格的特征法分析与“夹心层”住房需求的实证估测

本文基于对上海市600余名夹心层（青年白领）人士的问卷调查,采用特征价格法模型计量测度了住房关键性特征对上海住房价格的影响。在此基础上,根据上海市夹心层真实住房需求分布情况推算出该群体期望住房的市场价格,从而为进一步衡量夹心层住房购买力缺口提供科学依据。     

The crowding-out effect of elderly support expenditure on household consumption from the perspective of population aging: Evidence from China

The pace of aging in China is accelerating, from the introduction of family planning to the liberalization of the two-child policy, with a growing proportion of families in the 4–2-1 structure. With filial piety in mind, most adult children will live with their elderly parents and share income and expenditure. Concurrently, due to the inadequacy of the social security system, a heavy supplementary burden of supporting the elderly has been placed on adult children. Based on data from the 2011, 2013, 2015, and 2017 Chinese Social Survey (CSS) of the Chinese Academy of Social Sciences (CASS), this study analyzes the objective factors affecting household elderly support expenditure using the ordinary least squares (OLS) estimation method. It also examines the crowding-out effect of elderly support expenditure on the consumption of different types of households through a panel generalized method of moments (GMM) approach. Finally, the crowding-out effect of elderly support expenditure is discussed in a sub-sample according to the number of households needing to support the elderly aged 60 and above. The empirical results illustrate that there is a crowding-out effect of elderly support expenditure on household consumption, and the magnitude of the crowding-out effect varies for diverse consumption. Our study reveals that the crowding-out effect of elderly support expenditure on core consumption is the largest in a sample with different numbers of elderly persons in families. The empirical results for the sub-sample show that the larger the elderly population, the stronger the crowding-out effect of elderly support expenditure on core consumption and the less pronounced the effect on marginal consumption.     

生产性过剩条件下中国宏观经济政策取向探讨

目前我国之所以出现生产性过剩，商品过剩为其直接原因，生产和消费关系失调为其根本原因。为此，国家宏观经济政策应由主要调控投资转向主要调控消费，以消费带动投资。