人口年龄结构与居民消费——基于中国2005～2014年省际面板数据的实证研究

Abstract:To study the impacts of age distribution on household consumption，this paper develops a provincial household per capita consumption function based on social dependency ratio and household per capita disposable income through the decomposition and weighed aggregation of household consumption，which is then estimated using China’s provincial panel data from 2005 to 2014. The result indicates that under certain range of disposable income，the elderly and the children have the highest and lowest propensity to consume respectively，while the propensity of the adults falls in between. With the increase of disposable income，the propensity to consume of the children and the elderly gets lower while that of the adults behaves in an opposite way. Empirically，the increase of children’s and elderly dependency ratio separately decreases and increases the household per capita propensity to consume.

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