Empirical Study On Change Trends Of Urban Residents' Assets Affecting Consumption

With the building-up of market economy, the augmentation of the income's uncertainty about Chinese urban households and the quantity about the asset cause the diversification of residents' asset. The urban households keep the residents' savings deposit increasing ,get more securities and accumulate asset .They keep the balance between income and consumption in the future ;On the other hand , the lower consumption rate and the unreasonable consumption composition cause that economy growth is badly restricted by the market need . So the research on relationship of consumption and asset of Chinese urban households in our country seems to be extremely exigent and has the important meaning.In the recent years, although the research of the consumer behavior theories is more and more important in the economy research of our country, and more and more research on consumption function and asset of Chinese urban households, seeing from the current academic research result, the academic research that the asset accumulation of Chinese urban households influences upon the consumption of town and county residents is lack. Those related researches focus on the analysis: the financial asset' effect on consumption, the whole asset of Chinese urban households' wealth effect, and the influence of accumulation of real state on consumption being analyzed isolately. Different characters of all parts of asset are considered in the thesis, all parts of asset' wealth effects on consumption will be analyzed.The thesis according to the collected statistical data, adopt the tool of life cycle consumption function model: analyzing the whole asset' influence upon the consumption, the town residents' savings deposit' substitutive influence upon the consumption, and the securities' influence upon the consumption, draws following conclusion:The fluctuation of the town residents' income is still the main factor that influences the consumption of Chinese urban households. But the residents' asset has an increasing influence on the consumption of Chinese urban households.The foregone characteristics (such as bound, shortsighted and primordial) of town residents' consumption behavior are changed into the present-day characteristics (such as amplectant, forward-looking, the beyond-era budget).The residents' financial asset is developed quickly, the liquidity built up, and diversified structure presents, but the financial asset composition is still not reasonable.The whole town residents' financial asset has a weaker substituted influence upon the consumption. This is caused by that: in the financial asset composition, the residents' savings deposit has an obvious substituted influence upon the consumption, but the residents' securities have a positive related wealth effect upon the consumption and the wealth effect has the stronger instability.The real estate of Chinese urban households' wealth effect depends on that asset's classification. The villas have a positive wealth effect on consumption, but the common houses and economic and suitable houses have a negative wealth effect.