The Research Of The Effect Of Delayed Retirement On The Consumption Of Chinese Residents

With China’s entering into an aging society,a series of problems arise,such as insufficient labor supply,increasing pressure on pension security and so on.For this reason,our country puts forward the policy of delaying retirement.However,retirement expectation is an important factor that affects the change of consumption.With the transformation and upgrading of China’s economy,consumption is of great importance to the national economy,and due to the deepening of aging in China,the consumption demand of the elderly can not be ignored.The study of the impact of delayed retirement on the consumption of Chinese residents can predict the trend of China’s consumption market,and then deal with it reasonably.This is of great significance for the rational adjustment of industrial structure and the deepening of supply side structural reform.This thesis first reviews the domestic and foreign research on the impact of retirement on consumption and delayed retirement,and then analyzes the retirement system,the current situation of delayed retirement plan in China and its main impact groups,and summarizes the current situation of residents’ consumption in China.In theory,according to Keynes consumption theory,life cycle theory,relative income theory and other relevant consumption theory or experience,this thesis analyzes the impact of delayed retirement on the consumption of Chinese residents from various aspects.In the empirical aspect,based on the CHARLS database,this thesis first analyzes the impact of retirement on the consumption of Chinese residents by regression discontinuity design,and then compares the consumption differences between the people over 65 years old and the people between 60-65 years old by t-test,so as to analyze the differences between the consumption of delayed retirement and the current consumption of retired residents,and further infers that delayed retirement has an impact on the consumption of Chinese residents The influence of construction.This thesis found that after the implementation of delayed retirement,residents’ consumption demand after retirement is different from that after retirement under the current retirement system: compared with retirement at the current legal retirement age,residents’ daily non durable goods consumption demand will not increase significantly after retirement,their work-related and durable goods consumption preferences will be significantly reduced,and their spending on leisure entertainment and medical care will be eliminated Fee preference will still increase,but consumption patterns and product demand tend to be aging.In addition,the delayed retirement may increase the total consumption of residents,including young,middle-aged and old people,and change the consumption structure of residents: the delayed retirement may increase the work-related expenditure and durable goods expenditure of workers during the delayed retirement period,reduce the daily non durable goods expenditure of the elderly,reduce the leisure and entertainment expenditure and medical care expenditure of the young elderly Expenditure,increase the proportion of online shopping consumption of the elderly,and make the elderly pay more attention to the quality of consumption.It is hoped that the government will be ready to deal with these changes,comply with the new demands of the elderly consumption,pay attention to the improvement of the elderly consumption market,and build a health insurance system for the elderly.