Analysis Of The Time Preference And Consumption Structure Of Urban And Rural Residents In China

Consumption has a very important role in stimulating economic growth,but in recent years the final consumption rate and the contribution rate of consumption to economic growth is declining,"high savings,low consumption" has become a problem constraint to China's economic development that can't be ignored.Therefore,the expansion of domestic demand,stimulate consumption has become the direction of China's economic development.By combining the research of China's urban and rural residents' consumption time preference and consumption structure,we can study the characteristics of consumption behavior and the changing behavior of urban and rural residents in China.which provides a practical support and theoretical basis for the current China's consumer policy development.By constructing the Ramsay model and deriving the first order condition of the optimal consumption of the inter period,estimating the time preference rate that reflecting the characteristics of the consumption behavior of our residents.The empirical results show that the time preference rate of urban and rural residents' consumption is declining,in other words,urban and rural residents are increasingly inclined to future consumption,and rural residents relative to urban residents are more inclined to future consumption.The time preference rate of urban and rural residents for the eight categories of consumer goods also showed the same trend.Combined with Engel coefficient and use ELES model analysis the marginal propensity to consume,basic consumption expenditure,income elasticity,system analysis the the various trend of consumption items,It is better to find out the change of consumer demand and the change of consumption behavior of Chinese residents,China's urban and rural residents lack of consumption,there are differences between urban and rural areas,But as a whole urban and rural residents in China to meet the needs of food and clothing began to tend to the type of develop,enjoy living materials,residents' consumption structure is constantly optimized and upgraded.