文献类型：期刊文献

中文题名：房价上升对城镇居民平均消费倾向的影响——基于上海市入户调查数据的实证研究

英文题名：The Impact of Increase in Housing Price on Urban Household Average Consumption Propensity:A Study Based on Household Survey Data in Shanghai

作者：杜莉[1];沈建光[2];潘春阳[3]

机构：[1]复旦大学经济学院,上海200433;[2]瑞穗证券亚洲公司;[3]华东理工大学商学院,上海200237

年份：2013

期号：3

起止页码：44

中文期刊名：金融研究

外文期刊名：Journal of Financial Research

收录：CSTPCD;;国家哲学社会科学学术期刊数据库;北大核心:【北大核心2011】；社科基金资助期刊;CSSCI:【CSSCI2012_2013】；

基金：国家社科基金一般项目"房价上升对居民消费倾向的影响及公共政策的应用研究"(编号11BJL020);国家社科基金重大项目"中国特色公共经济理论与政策研究"(编号11&ZD073);复旦大学"985工程"三期整体推进社会科学研究项目(编号2011SHKXZD004)的资助

语种：中文

中文关键词：房产价格;平均消费倾向;财富效应;替代效应

外文关键词：Housing price; Average consumption propensity; Wealth effect; Substitution effect

摘要：房价上升主要通过"财富效应"、"流动性约束效应"以及"替代效应"三大机制对居民消费产生促进或抑制的作用。本文以上海城镇居民入户调查数据为基础,通过实证研究发现,近年来上海的房价上升总体上提高了居民的平均消费倾向,一方面,由于"财富效应",自有住房家庭的平均消费倾向提高,另一方面,由于"替代效应",尚无自有房的家庭放弃购房、转而扩大消费,从而其平均消费倾向也显著上升。由此本文提出抑制房价的政策有可能拖累居民消费,从而发展质量优良的公共租赁住房对于实现居民"住有所居"的重要意义更加凸显。
Theoretically, housing price can affect household consumption through wealth effect, liquidity constraint effect or substitution effect. Based on the survey data of Shanghai urban households, this paper makes an empirical analysis and finds recent increase of housing price in Shanghai has positively influenced the household average consumption propensity through wealth effect and substitution effect for the households with and without self-owned houses respectively. Based on the empirical study results, we suggest the government to develop high quality public rental houses so as to encourage household consumption and improve people＇s happiness in a nraetical and effective way.