中国住房改革对家庭耐用品消费的影响

中国的住房改革对许多城市家庭形成正的财富冲击。利用CHNS数据,我们发现:同理论预期一致,受益于住房改革的家庭消费了更多的耐用品。特别是,在住房改革的随后几年,其影响更为显著。我们还发现,住房改革对耐用品消费的次序具有影响,经历住房改革的家庭倾向于首先消费生活最必需的耐用品,然后再消费其他耐用品。通过增加家庭的耐用品消费,住房改革对扩大内需和走出当时的通货紧缩产生了积极影响。

THE EFFECTS OF HOUSING REFORM ON DURABLE GOOD CONSUMPTION IN CHINA

Housing reform in China provides a large positive wealth shock to a significant portion of households in China. Using China Health and Nutrition Survey (CHNS) data,we find that households who had benefited from housing reform have significantly higher consumption of durable goods,as predicted by economic models. But they would increase their durable good consumption in a few years after the housing reform. Because it increases household expenditure,the housing reform contributed to raising domestic consumpt...