Consumer finance and consumption upgrading: An empirical study of CHFS

Wu, Zixi; Wang, Yiqin

doi:10.1016/j.frl.2023.103784

Cited by 16 publications

(18 citation statements)

References 21 publications

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“…According to traditional consumption theory, individuals respond to income uncertainty by making consumption adjustments (Wu & Wang, 2023). As a result, the policy implementation date has garnered more attention in the literature than the policy announcement date (Bomfim, 2003).…”

Section: Announcement Effectmentioning

confidence: 99%

“…Typically, the consumption structure is measured as the proportion of development and enjoyment types of consumption out of total consumption (He et al, 2022;. Recent case studies have utilized the "development coefficient," which represents the proportion of education, culture, and entertainment expenditures in total household consumption to describe the consumption structure (Wu & Wang, 2023;Yu & Wang, 2021). Additionally, others have used the extended linear expenditure system model to classify expenditure items into general and high-level goods, and then measured the proportion of high-level goods consumption out of total consumption as a measure of consumption structure (Lluch, 1973;Stone, 1954).…”

Section: Delayed Retirement Policy and Consumptionmentioning

confidence: 99%

“…This indicates that the matching variables and method were appropriate. Following Wu and Wang (2023) and Yu and Wang (2021), we used the "development coefficient"…”

Section: Propensity Score Matching Differences-in-differencesmentioning

confidence: 99%

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Announcing Effect: Delaying Retirement and Household Consumption Structure

2023

Preprint

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The announcement of the policy of gradually delaying retirement most likely has noteworthy social and economic implications. Although current literature has primarily focused on the macroeconomic effects of postponing retirement, insufficient attention has been devoted to the influence on micro-level household consumption. To bridge this gap, we utilized data from the China Health and Retirement Longitudinal Survey (CHARLS) database and employed the Differences-in-Differences (DID) method to analyze the consequences of announcing a gradual delay in retirement on household consumption structure. The findings suggest that the policy announcement substantially reduced the proportion of expenditures related to enjoyment and development in total household consumption, leading to an overall decline in consumption. Moreover, the effect varied significantly by gender and education level. Specifically, men with less education were more likely to reduce their consumption upon hearing the announcement. The practical implications of these empirical results are pertinent to the flexible implementation of the decision to delay retirement. JEL: I15

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Section: Announcement Effectmentioning

confidence: 99%

Section: Delayed Retirement Policy and Consumptionmentioning

confidence: 99%

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Announcing Effect: Delaying Retirement and Household Consumption Structure

2023

Preprint

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“…The family is one of the main sources of consumption in society since they constantly require goods and services for their development (Corrado et al, 2022;Makridis, 2022;Nonthapot & Jirukkakul, 2023), it is a primary function in a society and economic systems (Wang et al, 2021). Consumption refers to the final consumption expenditure of households and consumer units (Wu & Wang, 2023). From a macroeconomic point of view, it is not but what factors determine society's overall consumption (Li et al, 2016).…”

Section: Analysis Of Household Consumptionmentioning

confidence: 99%

An Analysis of Household Consumption for the City of Chachapoyas, Amazonas

Vega¹,

Dávila²,

Pantaleón³

et al. 2023

J. Professional Business Review

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Objective: The objective of this study was to identify the profile of academic research on blended learning in the world and propose a research agenda for the topic. Theoretical framework: Recent literature has reported good results in both student performance and satisfaction in blended learning (Dziuban et al., 2004). However, there is still much to investigate and learn about BL because it is a recent development. Method: The research is descriptive was non-experimental, the sample was calculated by probabilistic sampling, for the estimation of consumption a simple model of consumption was used a general linear regression model (GLRM) that was supported by the estimation by ordinary least squares (OLS). Results and conclusion: The results show an 83.0% degree of goodness of fit. In other words, 83.0% of the variability of consumption is explained by the variability of family income. The marginal propensity of households to consume is 62.6 percent, i.e., for each additional monthly income generated, 0.62 percent of this new income is converted into consumption expenditure, taking into account all the components of consumption, and the remainder, i.e., 37.4 percent, is spent on savings or investment, bearing in mind that the economic theory of saving and investment essentially are the same. Implications of the research: The study is important because it describes consumption at the microeconomic level, using an econometric model that explains the relationship between consumption and income. Socially, it describes consumer behavior. Originality/Value: The value of the study focuses on the analysis of income with consumption through an econometric model that describes how much of the income is destined for consumption.

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“…As the blood of the economy, finance has a huge role in promoting and regulating economic growth [ 1 ]. However, due to the limitation of time and space and the high cost of traditional finance, it is impossible to give full play to the supporting role of finance in economic growth [ 2 ]. How to find new economic growth points, optimize the industrial structure, and lead the new economic normal have become the focus of attention from all walks of life [ 3 ].…”

Section: Introductionmentioning

confidence: 99%

Digital inclusive finance, industrial structure, and economic growth: An empirical analysis of Beijing-Tianjin-Hebei region in China

Zhou,

Zhang,

2024

PLoS ONE

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As a product of combining digital technology and traditional finance, digital inclusive finance plays a vital role in economic growth. This paper deeply analyzes the impact of digital inclusive finance on economic growth and the specific transmission path. This research selects the municipal panel data of Beijing-Tianjin-Hebei from 2011 to 2020 and empirically studies the impact of digital inclusive finance on economic growth. From the perspectives of industrial structure transformation speed, industrial structure upgrading, and industrial structure rationalization, this study analyzes the role of industrial structure in the impact of digital inclusive finance on economic growth and tests the heterogeneity of the impact of digital inclusive finance on economic growth. The results show that digital inclusive finance has a significant role in promoting economic growth. The depth of use of digital inclusive finance has the most significant impact, followed by the breadth of coverage, and the degree of digitization is the smallest. The industrial structure transformation speed and the industrial structure rationalization play a significant intermediary role in the economic growth effect of digital inclusive finance, and the industrial structure upgrading has no significant impact on the economic growth effect of digital inclusive finance; the promotion effect of digital inclusive finance on economic growth is bigger in the economically developed group, the higher digital inclusive finance group and the technologically developed group, and the promotion effect is smaller in the economically underdeveloped group, the lower digital inclusive finance group and the technologically underdeveloped group. The results provide a strong reference for policy formulation to promote the development of digital inclusive finance and economic growth.

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Consumer finance and consumption upgrading: An empirical study of CHFS

Cited by 16 publications

References 21 publications

Announcing Effect: Delaying Retirement and Household Consumption Structure

Announcing Effect: Delaying Retirement and Household Consumption Structure

An Analysis of Household Consumption for the City of Chachapoyas, Amazonas

Digital inclusive finance, industrial structure, and economic growth: An empirical analysis of Beijing-Tianjin-Hebei region in China

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