The Different Impact Of Intergenerational Transmission Of Income Between Urban And Rural Residents In China Based On Household Financial Assets

The intergenerational income transmission means the relevance between the income of the offspring and the income of his or her father,mainly through the income elasticity of intergenerational income transmission to gauge the relevance of the income of the offspring and the income of his or her father in the whole society.The intergenerational income elasticity refers to the influence of the income level of the parent on the income level of the descendants in society.The higher the reciprocity of intergenerational income,the higher the income of the offspring,and the social background of his or her father.The lower the income elasticity of the intergenerational income,it means that the income earned by the offspring depends mainly on their own talent and ability.The lower intergenerational income elasticity is the embodiment of the equality of opportunity for every member of society,and it is also the key to the efficient operation of the market economy.The study of intergenerational income in our country began in the late 1990 s.The early studies focused on the educational level of the offspring,the health status,the explanatory power of the growth environment on the intergenerational income elasticity,and neglected the financial assets of the household.Explanatory Power of Differences in Inter-generational Income Transfer among Residents’ Families.With the deepening of the internationalization of China’s financial market,financial instruments in the depth and breadth of continuous innovation,the composition of household financial assets has been no small changes before,the household’s total income has not only by the father On behalf of the wage income of the decision,largely depends on the wealth of the household held by the wealth of capital income.Thus,the impact of household financial assets on the total income of the household,with the intergenerational transmission mechanism for the offspring of income also have a more significant impact.Families of urban affluent families can obtain more asset benefits through investments in various financial assets,but families in rural poor are often difficult to raise the educational funds needed for offspring,which makes urban and rural offspring in the future There is a big difference.It can be seen that the study of household financial assets has a strong practical significance for the explanatory power of the differences between generations of urban and rural residents in China.On the basis of summarizing the current study about this text combines the current status of China(diversified expansion of financial products,housing prices rise constantly),the household financial variables(household realty worth,household financial property),the father’s characteristics(age of education,political outlook,account)and the main characteristics of the offspring(gender,age of education,political outlook,account)into the intergenerational transmission model,to examine the various household variables on China’s urban and rural families on behalf of The explanatory power of the difference of income transfer.First of all,this text mainly studies the household financial variables(household real estate value,household financial assets),the main characteristics of fathers(years of education,political outlook,accounts)and the main characteristics of their offspring(gender,education years,Account)on the degree of intercultural transmission of urban and rural residents in China.Then,this text mainly observes and studies the influence otherness of various household variables on the different incomeclasses of offsprings by the fractile regression of the intergenerational income transmission about the household financial assets.Through relevant regression study,this text mainly draws these viewpoints.First,the household financial assets and the value of household real estate have a stronger explanatory power to the families of urban residents in our country.The sex of the offspring and the age of the offspring have significant positive effects on the urban and rural residents’ families.Respectively,there are positive and negative impact on rural households.Second,the parent’s income has a more significant positive impact on the middle and low generation of offspring income,and its influence on the income of the middle and high level descendants is often weaker;the household financial assets have high There is a more significant influence on the low-level and the highest level of sub-generation of income have a certain degree of weakening;household real estate value of low-level generation of income have a more significant influence,high-level generation income has no significant effect;the political outlook of the parents has a significant negative effect on the middle and low-level offspring income,and has no significant effect on the middle and high generation descendants;There is no significant negative impact on the generation of subordinate income,and there is no significant effect on the income of the high-level progeny.The age of the offspring has a stronger positive effect on the middle and low generation of offspring.The influence of the offspring is less;the offspring has a more significant influence on the middle and high generation descendants,and the influence on the income of the middle and low generation descendants is lower;the political outlook of the offspring is different from the middle Have more The impact of the generation,the high-level and low-level generation of income were no significant impact;sub-account on the low-level generation of income has a more significant positive impact on the high-level generation of income Weak force.This text has these three innovations: Above all,the household financial assets and other property income into the impact of income intergenerational transmission differences in the study.Secondly,a comparative study of the intergenerational transmission of income between urban interior,rural interior and urban and rural areas is made.Finaly,this text starts from the panel data of household financial assets,analyzes and analyzes the mechanism of the differentiation of intergenerational transmission of urban and rural residents in China,and explores the policies of supporting and guiding the investment and consumption of urban and rural residents,reducing the income gap between urban and rural residents,Urbanization process,to promote economic restructuring and upgrading.