老龄化下的家庭挑战:老年照料成本如何影响金融资产配置?  

Family Challenges in an Aging World:How the Cost of Elderly Care Affects Financial Asset Allocation?

作　　者：张永奇 单德朋[2] ZHANG Yong-qi;SHAN De-peng(College of Economics,Sichuan Agricultural University,Chengdu 611130,China;College of Economics,Southwest Minzu University,Chengdu 610041,China)

机构地区：[1]四川农业大学经济学院,四川成都611130 [2]西南民族大学经济学院,四川成都610041

出　　处：《现代财经（天津财经大学学报）》2024年第7期58-74,共17页Modern Finance and Economics：Journal of Tianjin University of Finance and Economics

基　　金：国家社会科学基金重点项目(23AJY015);西南民族大学2023年度中央高校基本科研业务费专项资金项目(2023SJBGS03)。

摘　　要：稳步增加养老财富储备,是积极应对人口老龄化的重要举措。基于CFPS微观数据,探讨了家庭老年照料及其成本对家庭金融资产配置的影响。研究发现,老年照料成本显著促进了家庭金融资产投资规模,但使家庭更倾向于投资无风险资产。此外,母亲照料和中强度照料对家庭金融资产配置的影响尤为显著。家庭之间的良性代际互动,有利于减弱家庭预防性动机,实现投资多元化。社会照料虽然能与家庭老年照料形成互补效应,但对家庭金融资产配置的经济效果并不明显。研究结论不仅为理解家庭金融行为提供了新的视角,也为政府制定养老与金融协同发展政策提供了重要参考。Steadily increasing the reserves of old-age wealth is an important measure to actively coping with population ageing.Based on CFPS microdata,this paper explores the impact of household old-age care and its cost on household financial asset allocation.It is found that the cost of old-age care significantly contributes to the size of household investment in financial assets,but makes households more inclined to invest in risk-free assets.In addition,the impact of mother care and medium-intensity care on household financial asset allocation is particularly significant.Positive intergenerational interactions between household's favor weakening the precautionary motive and diversifying investments.Although social care can have a complementary effect with family elder care,it does not have a significant economic effect on family financial asset allocation.The conclusions of the study not only provide a new perspective for understanding family financial behavior,but also provide an important reference for the government to formulate policies for the synergistic development of old age and finance.

关 键 词：家庭老年照料 家庭金融资产 老年照料成本 投资预期 社会照料 

分 类 号：C913.11[经济管理] F832[社会学]