Study On The Impact Of Intergenerational Socioeconomic Mobility On Household Consumption In China

In recent years,the phenomenon of "born with a silver spoon" and "poor second generation" has aroused widespread concern in society.Strong intergenerational persistence and the problem of class curing have gradually entered people’s vision.The growing solidification of socioeconomic status will damage social equity and justice,and it is a major challenge to social and economic development and an urgent problem to be solved.At the same time,China’s household consumption rate has been low for a long time,and the consumption potential has not been fully released.Will the consolidation of the intergenerational mobility affect household consumption? The answer to this question has some theoretical and practical significance.Based on the China Family Panel Studies(CFPS),this paper first constructs the indicators of relative intergenerational socioeconomic mobility and absolute intergenerational socioeconomic mobility from the perspective of the ISEI.On this basis,the effect of relative intergenerational status mobility and absolute intergenerational status mobility on total household consumption expenditure and sub-consumption expenditure is analyzed by using multilevel linear model empirically,and the influence of intergenerational socioeconomic mobility and household characteristic variables such as household income and family assets is analyzed on household consumption.Finally,from the angle of income gap and family human capital investment,the role mechanism of relative intergenerational socioeconomic mobility and absolute intergenerational socioeconomic mobility to household consumption expenditure is discussed by using multilevel mediation model.The results show that:(1)China’s relative intergenerational socioeconomic mobility and absolute intergenerational socioeconomic mobility of the overall present "East higher than west" and "south higher than north" coexisting situation.(2)The difference of intergenerational socioeconomic mobility makes the household consumption in different provinces of our country have obvious differences.And the relative intergenerational socioeconomic mobility and absolute intergenerational socioeconomic mobility have a significant positive impact on total household consumption expenditure and other subsub-consumer expenditure,except food consumption expenditure and medical consumption expenditure.At the same time,the relative intergenerational socioeconomic mobility and the absolute intergenerational socioeconomic mobility will strengthen the positive impact of household income and household assets on total household consumption expenditure.In areas with high intergenerational mobility,increased household income and household assets can have a more significant contribution to household consumption.(3)The increase of the level of relative intergenerational socioeconomic mobility and absolute intergenerational socioeconomic mobility can promote the increase of total consumption expenditure of rural households,households with housing debt and low-income families.(4)The mechanism of the relative intergenerational socioeconomic mobility and the absolute intergenerational socioeconomic mobility on household consumption is analyzed by using the multilevel mediation model.The results show that the relative intergenerational socioeconomic mobility and the absolute intergenerational socioeconomic mobility can promote household consumption by narrowing the income gap and increasing the investment of family human capital.