The Impact Of Pension And Medical Insurance On Urban Household Consumption

The uncertainty of income and expenditure and the imperfect financial market leading to credit constraints have led to a portion of the disposable income of Chinese residents to be used for savings.In terms of stimulating consumption,many scholars have pointed out that we can start from the perspective of improving the social security system.As an important part of social security,endowment insurance and medical insurance can reduce residents' uncertainty about future pension and medical expenses to a certain extent,thereby reducing savings,stimulating consumption and stimulating economic growth.Research on the impact of pension and medical insurance on urban household consumption,through the China General Social Survey(CGSS)2015 cross-sectional data and provincial 2005-2017 panel data,based on regression models and fixed-effect models to analyze pension and The impact of medical insurance coverage and insurance contributions on urban household consumption.According to the empirical analysis,there are several conclusions obtained in this paper,in addition to basic medical insurance,the other three insurances have a significant role in promoting consumption;The burden of pension insurance contributions will curb consumer spending;Participation in basic medical insurance can significantly promote entertainment spending and low-income group consumption;Participation in commercial pension insurance and medical insurance can significantly promote consumption of people aged 45 and below,and middle-income groups;Age has an increasing inhibitory effect on transportation,entertainment,and clothing expenses.As the age increases,the marginal propensity to consume has a U-shaped change.