关于"储蓄存款是低收入者资产"的实证研究

本文对我国居民的储蓄收入弹性进行了实证研究。在研究设计上,根据资产组合选择理论,综合收入、物价和利率等因素,建立协整回归模型考察我国居民的储蓄收入弹性,并与美国的情况进行简单的比较。研究结果表明,虽然我国居民的储蓄收入弹性呈现明显的下降趋势,但依然显著大于1,目前,对我国居民来说,由于人均收入依然很低,储蓄存款还是奢侈品,是低收入者的资产选择。

Positive Study on Savings being Lower-income Resiolents' Asset

This paper does positive study on the income elasticity of savings in China. According to the Asset Portfolio Theory and considering of income, price and interest, we set up the cointegration model to recover the income elasticity of savings of our residents and compare it with that of American. The results show us that the income elasticity of savings of our residents is above one notably, although it has been decreasing. Now, because our residents still have lower income, the savings is also the Lower- Incomes' Asset.