Research On The Impact Of Household Leverage Ratio On Consumption Gap

Countries in economic development,which is based on resident consumption growth,the consumption gap of residents in our country in recent years gradually increased,on the other hand,our country residents leverage also rapidly rising trend,according to BIS data measured at the end of 2017 residents of our country in terms of GDP caliber lever rate was 48.4%,the average annual growth rate of 15.5% since2006 there are many types of decision factors of residents’ consumption gap,including residents leverage income gap,etc.,the research on residents’ leverage by academic circles in recent years focused on residents’ income gap Residents’ leverage ratio is the main factor that affects residents’ consumption gap.This paper studies the relationship between residents’ leverage ratio and residents’ consumption gap.Article will first generalizes the related research and summarization of the scholars at home and abroad,based on the theory of life cycle and income family asset allocation theory and the theory of consumer credit,based on the analysis of the residents of leverage with the connection between the resident’s consumption gap,and proposes the corresponding assumptions and second,to our country’s household leverage and the present situation of the consumption gap analysis,found the our country household leverage is rapidly rising trend,and the consumption gap of Chinese residents is widening Thirdly,based on CFPS data of Chinese household tracking survey in 2014 and 2016,this paper constructed two phases of non-equilibrium panel data for OLS regression analysis,and the empirical conclusions are as follows : The control other conditions remain unchanged,the resident leverage ratio and the resident consumption gap relationship between positive correlation;In the group of households with no mortgage loan,the positive effect of household leverage ratio on the consumption gap of high-income households is significant.In urban and rural residents family group,household leverage has a positive effect of urban household consumption gap between household leverage of western has a positive effect in the end,household consumption gap according to the empirical conclusions,this paper puts forward Suggestions: strict monitoring personal loans,inhibition of residents’ leverage,to promote scientific financial consumption idea;We will determine the responsibilities of local governments in regulating the real estate market,assign responsibility to the effective supply of housing and land,and strengthen public opinion guidance and management.Reduce the gini coefficient andpromote the fairness of social income redistribution;We will accelerate the implementation of an ecological civilization system and coordinate the development of people’s incomes and consumption.Construct strict supervision mechanism of personal loan market and improve the accuracy of personal loan examination.Main innovation points of this paper is to put forward the CFPS family database partition for families with mortgage and no mortgage family groups,and household leverage,according to the results of the empirical research on the influence of the consumption gap have mortgage family household leverage is significant,the results of consumption gap and mainly through mortgage way influence can provide some reference for future research.