共同富裕视角下住房公积金制度收入效应及其分配  

The Income Effect and Its Distribution of Housing Provident Fund from the Perspective of Common Prosperity

作　　者：吴义东 胡明志 陈卓 WU Yi-dong;HU Ming-zhi;CHEN Zhuo(School of Business,Anhui University of Technology,Ma'anshan 243032,China;School of Management,Zhejiang University of Technology,Hangzhou 310023,China;China Academy of Housing&Real Estate,Zhejiang University of Technology,Hangzhou 310023,China;School of Government Audit,Nanjing Audit University,Nanjing 211815,China)

机构地区：[1]安徽工业大学商学院,安徽马鞍山243032 [2]浙江工业大学管理学院(浙江工业大学中国住房和房地产研究院),浙江杭州310023 [3]南京审计大学政府审计学院,江苏南京211815

出　　处：《经济体制改革》2022年第5期175-185,共11页Reform of Economic System

基　　金：国家自然科学基金面上项目“货币政策、住房供给与房地产市场长效机制研究”(71974003);国家自然科学基金面上项目“住房公积金政策性金融功能提升路径研究”(71874001);全国统计科学研究一般项目“住房公积金制度的福利效应测度研究”(2020LY008)。

摘　　要：住房公积金制度是中国政策性住房金融体系的主体,研究收入效应及其分配有助于评估其实施效果,并明确未来改革方向。研究发现:住房公积金制度能够为缴存职工带来显著经济效应。在缴存环节,由于存在机会成本和利息损失,公积金负向经济效应随缴存时间延长呈加速扩大趋势,公积金缴存利率改革能有效缓解这一效应;在贷款环节,公积金具有显著的正向经济效应且公积金贷款使用越充分,则越能获取到制度红利。然而,当前公积金面临收入分配不平等等潜在问题,共同富裕目标导向下,需将公积金收益分配的洛伦兹曲线转变为双凸驼峰非对称形状,即朝着“高产补贴中产”“中产适当补贴低产”方向进行改革。为此,应强化公积金制度特惠性,探索“强制+自愿”弹性缴存机制,进一步发挥公积金政策性金融功能,推动公积金区域一体化改革。The housing provident fund(HPF) is the main body of China’s policy housing financial system. Studying the income effect and its distribution is conducive to a deep understanding of its implementation effect and a clear direction for its reform. This study finds that the HPF can produce significant economic effects for the participants. In the deposit phase, due to the opportunity cost and interest loss, the negative economic effect of HPF shows an accelerated expansion trend with the deposit time. The adjustment of the interest rate of HPF deposits helps reduce the loss of economic effect significantly. In the loan process, the HPF has a significantly positive economic effect, and the more fully the HPF loan is used, the more institutional dividends can be obtained. However, the current HPF is faced with the potential problem of unequal income distribution. Under the guidance of promoting the goal of common prosperity, it is necessary to transform the Lorentz curve of HPF’s income distribution into a double-convex hump asymmetric shape, that is, carrying out reforms towards “high-yield subsidizing the middle class” and “middle class appropriately subsidizing low-yield”. To this end, the special preference of the HPF should be strengthened, the “mandatory + voluntary” flexible deposit mechanism should be explored, the policy financial function should be further enhanced, and the regional integration reform should be promoted.

关 键 词：共同富裕 住房公积金 免税收入 收入效应 收入分配 

分 类 号：F293.35[经济管理—国民经济]