住房财富、财富幻觉与居民家庭消费扩容升级  

Housing Wealth,Wealth Illusion and Household Consumption Expansion and Upgrading

作　　者：罗嘉昊 鞠方[1,2] LUO Jia-hao;JU Fang

机构地区：[1]湘潭大学商学院 [2]湖南大学金融与统计学院

出　　处：《科学决策》2024年第9期177-191,共15页Scientific Decision Making

基　　金：国家社会科学基金重点项目(23AJL013);教育部哲学社会科学研究重大课题攻关项目(21JZD024)。

摘　　要：消费降级背景下,住房财富对居民家庭消费扩容升级的影响发生变化。结合CFPS2016、2018和2020三个年度的混合截面数据,以服务性消费支出占比作为消费升级的替代变量,探究住房财富对居民家庭消费扩容升级的影响。研究发现:住房财富正向影响消费扩容、负向影响消费升级;住房财富对城镇家庭、多套房家庭、房地产业发展程度较高地区家庭、金融业发展程度较低地区家庭消费扩容的正向作用更明显,住房财富对农村家庭、一套房家庭、房地产业发展程度较低地区家庭和金融业发展程度较低地区家庭消费升级的负向作用更明显。进一步分析发现,住房财富在财富幻觉的调节机制作用下会正向影响消费升级。In the context of consumption downgrading,the impact of housing wealth on the expansion and upgrading of residential household consumption changes.Combining the mixed cross-section data of CFPS 2016,2018 and 2020,the impact of housing wealth on the expansion and upgrading of residential household consumption is explored with the proportion of service consumption expenditure as a proxy variable for consumption upgrading.The study finds that housing wealth positively affects consumption expansion and negatively inhibits consumption upgrading;the positive effect of housing wealth on consumption expansion is more obvious for urban households,households with multiple suites,households in areas with a higher degree of development of the real estate industry,and households in areas with a lower degree of development of the financial industry,while the negative effect of housing wealth on consumption upgrading is more obvious for rural households,households with one suite of rooms,households in areas with a lower degree of development of the real estate industry,and households in areas with a lower degree of development of the financial industry.The negative effect of housing wealth on the consumption expansion of rural households,households in areas with a lower degree of development of the real estate industry and households in areas with a lower degree of development of the financial industry is more obvious.Further analysis reveals that housing wealth positively affects consumption upgrading under the moderating mechanism of wealth illusion.

关 键 词：住房财富 财富幻觉 消费扩容升级 

分 类 号：F299.23[经济管理—国民经济]