Research On The Impact Of Basic Pension Insurance On The Labor Supply Of Rural Residents’ Families

In recent years,unemployment and employment issues have become prominent globally,and the number of working people in China has also been continuously decreasing.As one of the main macro policy goals,achieving full employment requires high attention to the issue of labor supply in China.The implementation of some policy systems may have an impact on labor supply,so it is of great significance to calculate and predict this impact.On the one hand,it is conducive to evaluating the performance impact of the system’s policies,and on the other hand,it also provides a basis for accurate judgment of the future labor supply situation.Social security is one of the important factors affecting labor supply,and basic pension insurance plays an important role in it.At present,the coverage rate of basic pension insurance in rural areas of China is steadily increasing every year,with the majority of participants being urban and rural residents’ basic pension insurance.The issue of labor supply is not only related to the realization of workers’ own labor rights,but also to the development of the entire national economy and social harmony and stability at the macro level.The 20 th National Congress of the Communist Party of China also mentioned that the most arduous and arduous task of comprehensively building a socialist modernized country still lies in rural areas.Therefore,it is valuable to conduct research on the impact of the payment of basic pension insurance on the supply of rural household labor.This article studies the impact of basic pension insurance benefits on the labor supply of rural households and their children from the perspective of family labor supply decision-making.Firstly,collect and sort out existing literature research to lay the foundation for this study.Secondly,theoretical analysis is conducted using theories such as the life cycle hypothesis,intergenerational support,and intergenerational exchange.A well-designed basic pension system should alleviate the labor supply pressure on the elderly,and may indirectly affect children’s labor supply decisions through influencing household consumption,intergenerational financial support,and other forms.Then,using micro survey data,Logit model regression analysis method and propensity score matching method are used for regression analysis and robustness test,and heterogeneity analysis is carried out on basic endowment insurance type,gender,education level and other factors.Finally,the stepwise regression method was used to study the intergenerational impact mechanism,and the Sobel method and Bootstrap method were used to test it accordingly.The empirical research results show that the overall impact of receiving basic pension insurance on labor participation of oneself and rural children is not significant;Among them,receiving the new agricultural insurance will significantly increase one’s own agricultural labor participation and the labor participation of rural children,while receiving the basic pension insurance for urban employees will have a crowding out effect on the labor participation of rural children as a whole;In the study of intergenerational influence mechanism,parents’ labor participation,parents’ downward financial support and family consumption all have different degrees of mesomeric effect.Based on the above research results,in order to further improve the social pension insurance system and actively address the issue of labor supply,this article proposes the following policy recommendations: firstly,pay attention to the spillover effect of basic pension insurance on the labor supply of rural children;Secondly,steadily improve the basic benefits of basic pension insurance for urban and rural residents;Thirdly,provide security and convenience for rural elderly people to engage in agricultural labor.