Research On The Threshold Effect Of Residents' Consumption In China Under The Condition Of Urbanization

Consumption plays an important role for both micro-consumers and for the efficient functioning of the macroeconomy.There are many literatures that there may be a non-linear relationship between residents' consumption and its influencing factors.But what is the specificity of this nonlinear relationship and why are not yet fully discussed and studied.The threshold model is an effective method to study the nonlinear relationships between variables.This paper attempts to use the panel threshold model to study the nonlinear behavior of Chinese residents' consumption in the context of urbanization.This paper creatively puts forward three hypotheses about the threshold effect of consumption under the conditions of urbanization,and clarifies its reasons and economic significance.The innovations of this paper are as follows.(1)The hypothesis of the threshold effect of the residents' consumption under the conditions of urbanization are put forward,and the provincial model of the residents' consumption is used to carry out the regression and the the test of threshold effect.This paper combines the panel data of the residents' consumption with the threshold model.And it makes full use of the strengths of the two,revealing some hidden features of the residents' consumption behavior.(2)The paper tests the threshold of the consumer behavior in the threshold model.In this paper,the threshold model of per capita consumption expenditure and the threshold model of residents' consumption rate are studied respectively.The differences between the thresholds of residents' consumption and the regional differences in residents' consumption are revealed.In this paper,through the empirical study on the per capita consumption expenditure model and residents' consumption rate model,we found that the hypothesis proposed in this paper are established,and finally the robustness estimation is carried out.The result proves that the empirical conclusion of this paper is robust.The non-linear effect of the residents 'consumption is helpful to explain the consumption behavior of our residents and provide targeted measures for the subsequent promotion of residents' consumption.