Study On The Impact Of The Integration Of Medical Insurance For Urban And Rural Residents On Household Consumption

Consumption is an important engine of economic growth and a direct reflection of people’s need for a better life.Against the backdrop of the impact of the novel coronavirus pandemic and the complex and grim economic situation at home and abroad,"expanding domestic demand and promoting consumption" has become the top priority for China to build a new development pattern of "double cycle" with domestic recycling as the main task.However,the overall consumption rate of residents is low,the consumption level of rural residents is low,and the consumption tendency of urban residents is low for a long time.How to give play to the role of risk allocation and redistribution of the social security system,reduce precautionary savings and release consumption has become an important issue in the new economic development pattern and the post-COVID-19 era.As an important part of the social security system,the medical insurance system plays an important role in reducing the uncertainty of residents’ future expenditure and income.In order to further release consumption,our country is improving the residents’ basic medical security system.Among them,breaking the urban-rural dual system and implementing the urban-rural medical insurance integration has become the key of the reform.In this context,it is of great significance to explore the effect and internal transmission mechanism of the integration of medical insurance for urban and rural residents on household consumption.On the basis of clarifying the impact of medical insurance on consumption and related research on the integration of medical insurance for urban and rural residents,this paper conducts a study on the impact of the integration of medical insurance for urban and rural residents on household consumption.First of all,the absolute income hypothesis,life cycle hypothesis and preventive savings theory were analyzed theoretically,and the impact mechanism of residents’ medical insurance integration on consumption was deeply analyzed,which laid the empirical support and theoretical foundation for the subsequent research.Secondly,through the macro data data,the basic medical insurance system development and consumption situation of Chinese urban and rural residents are analyzed,providing realistic conditions for subsequent research.Then,using the data of China Labor-force Dynamic Survey(CLDS)in 2012,2014 and 2016,the unbalanced panel was constructed for empirical analysis.The time-varying difference-difference method,which is consistent with the gradual characteristics of the urban and rural medical insurance integration pilot,is used to explore the effects of the urban and rural medical insurance integration on the total household consumption and non-medical consumption from the perspective of dynamic institutional change,and the robustness of the results is tested.Further use the model of mediating effect and moderating effect to explore the mechanism of its influence.At the same time,it expands its heterogeneity from three aspects: consumption types,urban and rural categories and policy models,in order to provide mathematical evidence for a comprehensive and detailed analysis of the impact of the integration of urban and rural residents’ medical insurance on household consumption through empirical research and comparative research.The concrete empirical research conclusions are as follows: First,the integration of medical insurance for urban and rural residents can significantly promote short-term household consumption,and its promoting effect on household non-medical consumption is higher than that of total household consumption,and it has passed the robustness test of bilateral tail reduction and replacement of explained variables.Through parallel trend test and dynamic effect,it is found that the policy effect is short term and lag.Second,from the perspective of the impact mechanism,the theoretical and empirical tests show that the integrated policy of medical insurance for urban and rural residents can increase the total household income and thus promote household consumption,and can regulate the health risks between the sick group and the healthy group,so as to promote the overall household consumption.Third,there is heterogeneity in the impact of the medical insurance integration policy on household consumption.From the perspective of consumption types,the integration of medical insurance for urban and rural residents has the most obvious promoting effect on developmental consumption,followed by subsistence consumption and hedonistic consumption,showing a significant positive impact on the upgrading of household consumption structure as a whole.From the perspective of target groups,the promotion effect of the integration of medical insurance for urban and rural residents on consumption is mainly reflected in the household consumption of rural residents,but has no significant impact on the household consumption of urban residents.From the perspective of policy mode,the "multi-file system" mode of medical insurance integration for urban and rural residents has a more significant promoting effect on consumption than the "one-file system" mode.Especially for rural residents,the "multi-file system" mode is a more ideal choice in the early stage of integration transition.Finally,this paper is for the improvement of the construction of basic medical security system in the new period of our country,further energy consumption plays a basic role in economic development,and put forward corresponding suggestions: first,continue to promote the integration of the medical security system to expand the scope of the improvement of the policy design;Second,improve the pooling level and use efficiency of medical insurance funds to ease the pressure on revenue and expenditure.Third,build a health-centered medical security system and transform the development model.