Influence of Relaxing Fertility Policy on Household Debt——An Empirical Analysis of Two-child Policy
In recent years,China's fertility policy has experienced a constant relaxing process.The increase of household expenditure caused by relaxing fertility policy may be further transmitted to the increase of household debt.Therefore,based on the policy practice of the"the two-child policy"in 2016,this paper uses the data of Chinese household tracking survey to study the impact of the policy on household debt in China with difference in difference method and truncated regression model.The empirical results show that the implementation of the"the two-child policy"significantly raises the probability of households debt.When families are affected by the policy,the probability of holding debt increases by 6%.According to the conclusion,solving the population problem requires not only a relaxing fertility policy,but also efforts outside.From the perspective of household debt,more effective support and subsidies will make the fertility policy more effective.