Oversensitive Problem Of Ourcountry City And Town Dwell Diversity Income Stratum Consumption Studies

Because China's economy is undergoing a transition period, residents face greater uncertainty and liquidity constraints, people's consumption by a greater impact on current income, which is sensitive to excessive consumption. Excessive consumption in recent years become a sensitive issue of public hot spots scholars, in view of the majority of domestic consumption over sensitive research scholar at the same time consider the uncertainty and liquidity constraints sensitive to the impact of excessive consumption of literature is a very rare, the paper choice of China's urban residents consumer behavior as a research object to this.In this paper, Campbell and Mankiw1990 proposed on the basis of the theoretical model joined the uncertainty and liquidity constraints two variables, as a theoretical basis for modeling, econometric model for the establishment of seven income of China's urban residents in the consumer class excessive sensitivity of a comparative analysis, and by adding uncertainty and liquidity constraints and variables do not accede to the uncertainty and liquidity constraints estimated results were compared. In this paper, the text used in China's 23 provinces and municipalities in 1999 and 2005, seven years panal data to estimate the model, which is representative of the target income of urban residents per capita disposable income, consumption indicator is the representative of urban residents per capita consumption expenditure, Uncertainty representative indicator of China's urban residents per capita health care spending, education, cultural and entertainment services and spending growth, liquidity constraints on behalf of the indicators are on one-year deposit interest rates. An Empirical Study of the conclusions of the following four aspects: First, low-income residents of the consumer decision-making more sensitive to current income, the lowest income sectors of the consumer over-sensitivity coefficient 0.5103, and the highest income bracket only 0.2960. The second is not considered uncertainty and liquidity constraints will be omitted variables committed mistakes and the excessive consumption of the estimated coefficient sensitive than too small, as it is estimated by the excessive consumption sensitive coefficient including uncertainties and constraints on mobility Consumer impact. Third, liquidity constraints on China's low-income households relatively larger impact on consumer behavior. Fourth, it is uncertainty on consumer behavior of China's urban residents less affected.