房贷压力对文化消费的影响——基于“口红效应”的分析  

The Impact of Mortgage Pressure on Cultural Consumption—An Analysis Based on the “Lipstick Effect”

作　　者：杨凡 

机构地区：[1]重庆大学公共管理学院,重庆

出　　处：《社会科学前沿》2024年第11期627-637,共11页Advances in Social Sciences

摘　　要：在房价高涨的社会背景下,居民家庭的房贷压力也日益沉重。本文使用中国家庭金融调查(CHFS) 2013年、2015年和2017年的三期面板数据,以房贷收入比作为房贷压力的代理变量,依据“口红效应”的机制,借助双固定效应模型具体考察了居民家庭房贷压力对文化消费的影响。结果发现:房贷压力对居民家庭文化消费有显著的促进作用,以房价收入比作为工具变量进行的稳健性检验亦验证了这一结论。异质性分析表明:房贷压力更加明显的低收入和中等收入家庭的文化消费更加显著;消费观念更加开放地区的家庭更易于增加非必需的文化消费支出。实证结果均支持房贷压力对文化消费“口红效应”的影响机制。Along with higher and higher housing prices, the pressure of household mortgage is also increasingly heavy. Using the panel data of China Household Finance Survey (CHFS) in 2013, 2015 and 2017, this essay takes the ratio of mortgage to income as the proxy variable of mortgage pressure, and according to the mechanism of “lipstick effect”, with the help of the double-fixed effect model, examines the impact of household mortgage pressure on cultural consumption specifically. The results show that the mortgage pressure has a significant promoting effect on the cultural consumption of households, which is also verified by the robustness test using the house-price to income ratio as the instrumental variable. The heterogeneity analysis shows that the cultural consumption of low-income and middle-income families with more obvious mortgage pressure is more significant. Families in regions with more open consumption concepts are more likely to increase their non-essential cultural consumption expenditure. The empirical results all support the influence mechanism of “lipstick effect”.

关 键 词：房贷压力 房价 文化消费 口红效应 

分 类 号：F83[经济管理—金融学]