The Effect Of Income Inequality On Family Leverage

The issue of people's livelihood is a major issue concerning the national economy and people's livelihood,and it is related to the basic life of thousands of families.At present,Xi Jinping is in the new era of socialism with Chinese characteristics.How to let the people live and work in peace and contentment,how to let the economic development achievements be shared by everyone,this is a common concern of the whole society.In this context,the relationship between income inequality and household family leverage has important theoretical and practical significance.This paper uses the China Family Finance Survey(CHFS)2015 data to study the impact of income inequality on household leverage and household leverage.Firstly,the Probit model is used to empirically analyze the impact of income inequality on family leverage,and the Tobit model is used to empirically analyze income inequality and household leverage.Secondly,in the analysis,in order to make the empirical results more scientific and objective,the robustness test of the metrics and the robustness test of the samples were carried out.Then,the impact of income inequality on family leverage is divided into household income,household head education level,regional housing price,investment housing,and geographical location.Finally,in order to test the impact of income inequality on the possible channels of family leverage,this paper has carried out further analysis in order to obtain scientific and objective empirical results.The main empirical conclusions of this paper are as follows:1.Income inequality has a significant positive impact on Chinese household leverage;2.Income inequality has a significant positive impact on Chinese household leverage;3.Income inequality will favor households' wind direction preference There is a positive and significant impact.For low-income families,the expansion of income inequality will encourage low-income families to prefer to engage in or invest in high-risk and high-yield industries;risk appetite has a positive and significant impact on household leverage,indicating income inequality Significantly affect the leverage of households.The research in this paper provides new evidence for understanding the relationship between income inequality and family leverage,and can provide reference for the formulation of relevant policies.