The Effect On Household Consumption Of Family Eldercare Pattern Of Mid-Old Age In China

Under the background of continuing weakness of household consumption and population aging,it becomes more and more important for China to find out the appropriate way of changing its extensive growth model which depends on investment-driven and solving problems brought by population aging.The State Council issued "'13th Five Year' National Aging Career Development and Eldercare System Construction Plan" this year,which propose to establish a political system that support the family eldercare pattern and adult children and elderly parents in living together.Is the family eldercare pattern which is sparkplugged by the country able to improve the welfare of the elderly and promote the household consumption at the same time?In order to answer this question,this paper constructs a two-stage panel data based on the CHARLS micro-data database,and uses the Fixed Effect model and the way of PSMDID to estimate the difference of household consumption between the two kinds of eldercare patterns.The results of empirical test of the article show as follow:firstly,when the mid-old age change their eldercare pattern from "do not live with children" into "living with children",their household consumption will be improved significantly,and the improvement is especially obvious when the mid-old age is a woman.Secondly,with the age increasing of mid-old age,the household consumption level exist a sharp of inverted U,of which the peak is 69 years old.The inverted U changing between household consumption and age is particularly significant among male mid-old age.Thirdly,participating in pension insurance or medical insurance,or improving the education of the residents are all able to promote household consumption effectively.Fourthly,the change of eldercare pattern from "do not live with children"into "living with children" will lead a significant increasing of daily consumption and housing expenditure,while the health care expenditure declined significantly.In addition,in order to provide a reasonable reference for the country to expand domestic demand and establish a multi-level eldercare service system,this paper also puts forward some advices,such as create a proper policy and cultural environment to encourage parents to live with their children,delay retirement age appropriately,promote the prosperity of "silver-haired" industry to stimulate consume needs of mid-old age and perfect the social security system.