家庭房地产与金融资产配置对消费支出的影响  

The Impact of Household Real Estate and Financial Asset Allocation on Consumer Expenditure

作　　者：林若云 LIN Ruoyun(School of Economics,Fujian Normal University,Fuzhou 350108,China)

机构地区：[1]福建师范大学经济学院,福建福州350108

出　　处：《福建商学院学报》2021年第3期47-54,共8页Journal of Fujian Business University

摘　　要：利用西南财经大学研究中心的家庭金融数据,从理论和实证两方面探究家庭房地产与金融资产对家庭消费支出的影响。在全球负利率时代,家庭金融资产的财富效应小于房地产资产的财富效应,并且无风险金融资产对总消费的影响大于风险金融资产,而区分消费类型后发现无风险金融资产对总消费的影响大于风险金融资产,无风险资产对家庭非耐用品的影响较大。应稳定和完善我国房地产和金融市场,增强居民理财意识,降低金融产品的风险性。Based on the household financial data from the research center of Southwest University of Finance and Economics, this paper explores the impact of household real estate and financial assets on household consumption expenditure from both theoretical and empirical aspects. In the era of global negative interest rate, the wealth effect of household financial assets is less than that of real estate assets, and the impact of risk-free financial assets on total consumption is greater than that of risky financial assets. After distinguishing consumption types, it is found that the impact of risk-free financial assets on total consumption is greater than that of risky financial assets, and the impact of risk-free assets on household non durable goods is greater. We should stabilize and improve China’s real estate and financial markets, enhance residents’ financial awareness, and reduce the risk of financial products.

关 键 词：家庭消费 金融资产 财富效应 

分 类 号：F832.5[经济管理—金融学]