我国城镇居民消费的风险分担与跨期平滑——基于1985~2011年的实证研究
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引用本文:封福育,赵梦楠.我国城镇居民消费的风险分担与跨期平滑——基于1985~2011年的实证研究[J].财经理论与实践,2014,(5):92-96
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作者单位
封福育,赵梦楠 (1.江西财经大学 经济学院江西 南昌3300132.云南民族大学 管理学院云南 昆明650031) 
中文摘要:应用我国1985~2011年的省级数据,构建面板数据模型实证分析了城镇家庭消费的风险分担和跨期平滑情况。研究结果显示:我国城镇家庭消费的跨期平滑是不完全的。无论是从我国整体情况来看,还是从不同地区或者不同收入组家庭来考察,城镇家庭消费的跨期平滑系数γ均介于0~1之间。此外,城镇家庭消费的风险分担程度很低,消费风险分担机制很不完善。进一步的分析显示:各个地区内部和不同收入组内部的风险分担系数要高于全国总体的风险分担系数,这说明我国城镇家庭在进行消费风险分担时具有显著的“本地偏好”和“阶层效应”。
中文关键词:消费  风险分担  跨期平滑
 
Consumption Smoothing and Risk Sharing in China’s Urban Household——An Empirical Analysis from 1985~2011
Abstract:Based on the theoretical framework of Asdrubali's model, this paper applies the panel data model to investigate consumption smoothing and risk sharing in China's urban households using panel data of 30 provinces from 1985 to 2011 in China. The result shows that Chinese urban household consumption is incomplete intertemporal consumption smoothing. Whether it is from our country overall, or from the various regions or in different income groups of urban household consumption, the intertemporal consumption smoothing coefficients ranged from 0 to 1. In addition, China's urban household consumption risk sharing degree is very low. Whether from the overall national level, or from different regions and different income groups, Chinese urban household consumption risk sharing mechanism is not perfect. Further analysis shows that, Chinese urban household consumption risk sharing has significant "home bias" and "class effects". In other word, the consumption risk sharing coefficient in different regions and different income groups is higher than that of the overall.
keywords:Consumption  Risk sharing  Consumption smoothing
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