基本养老保险与城镇家庭消费:基于借贷约束视角的分析

发布时间：2018-05-09 04:25

本文选题：基本养老保险 + 借贷约束　；参考：《世界经济》2017年12期

【摘要】：本文利用2012年中国追踪调查数据研究发现,中国基本养老保险参保家庭的实际费率随收入增加而下降,高收入家庭受益于养老保险高回报率带来的终生财富增长,参保能够提高家庭当期消费;而低收入家庭实际费率负担较重,在借贷约束的限制下,参保不能促进家庭当期消费。进一步考察实际费率对家庭消费的影响发现:高收入家庭实际费率偏低,导致保障不足、预防性储蓄增加,低收入家庭因实际费率过高而减少当期消费,两类家庭的消费均偏离最适宜水平。本文研究表明:养老保险改革应当降低缴费门槛,遵循名义费率和实际费率相匹配、实际费率和家庭适宜保障水平相适应的原则,以有效发挥养老保险降低储蓄、提振消费的作用。
[Abstract]:Based on the data of China tracking survey in 2012, this paper finds that the real rates of households insured by basic old-age insurance decrease with the increase of income, and high-income families benefit from the growth of lifetime wealth brought by the high rate of return of pension insurance. Participating in insurance can increase household consumption in the current period, while low-income families have a heavy burden on actual rates. Under the restriction of lending constraints, participating in insurance can not promote household consumption in the current period. Further study on the effect of actual rate on household consumption shows that the actual rate of high income households is low, which leads to inadequate protection, the increase of preventive savings, and the reduction of current consumption by low income families due to excessive actual rates. Both categories of household consumption deviate from the most appropriate level. The research shows that the reform of endowment insurance should lower the threshold of payment, follow the principle of matching the nominal rate with the actual rate, and match the actual rate with the appropriate level of family security, in order to effectively exert the endowment insurance to reduce the savings. The role of boosting consumption.
【作者单位】：东北财经大学应用金融研究中心/金融学院;东北财经大学社会与行为跨学科研究中心;
【基金】：国家社科基金一般项目(17BGL149) 辽宁省教育厅项目(2015153)的资助
【分类号】：F126.1;F832.4;F842.67

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