The Influence Of Age Structure Of Population And Endowment Insurance System On Urban Residents' Consumption

The rapid economic growth promotes the continuous improvement of the living standards of residents,but the consumer demand of the residents has continued to slump and the household savings rate remains high,and the contribution of household consumption to the economy is lower than the world average.As a social security system that balances the social welfare level and the residents' income level,the implementation of the pension social insurance system affects the residents' current consumption decision-making;Second,the rapid economic growth has led to an increase in the life expectancy of the population,an aging population and low birth rate.Therefore,the population age structure Changes also affect residents' consumption decisions,and they also pose challenges to the current pension insurance system.From the perspectives of the age structure of the population,the social security system for the aged,and the inertia of consumption,the article studies the factors affecting the consumption of urban residents in the current period in China.The article first reviewed relevant theories and influencing mechanisms concerning the age structure of the population and the impact of the pension insurance system on household consumption and savings.Second,it discussed the development history of the population age structure and the reform of the social security system for the aged,analyzed the consumption status of urban residents in China respectively.-Inter-provincial macroeconomic panel data for 31 provinces in 2013,analyzing the impact of factors such as population age structure,pension insurance system,and consumer inertia on residents' current consumption decisions.Empirical analysis shows that consumption habits influence the important factors of urban residents' current consumption in China.Increasing the number of children and adolescents to support the population,increase the coverage of pension insurance,expand the scale of pension payments,and improve the social security of the aged can significantly improve the level of urban residents' consumption.Based on the above quantitative and qualitative analysis results,the article proposes the following policy recommendations: adjusting population policies,delaying the retirement age;opening up old-age industries,expanding the elderly market;expanding household income sources and improving residents' consumption habits;improving the pension insurance system and reducing uncertainty.