The study uses the panel data,heckman two-step method and PSM model to test the relationship between the urban and rural household pension scheme and house-hold consumption based on the CFPS database from 2010 to 2020.Using the composite panel data,it is found that the increase of the number of urban and rural residents particip-ating in the pension scheme promotes the increase of household consumption rate.From the perspective of consumption structure,the urban and rural household pension scheme can promote the optimization of household consumption structure and increase the pro-portion of pleasure-oriented consumption in total consumption.After considering the dif-ference between urban and rural areas and income,it is found that in urban residents and middle and high income groups,the promotion effect is more obvious.With the new rur-al scheme and urban residence scheme merged into urban and rural residents'pension scheme,the promoting effect of urban and rural residents'pension scheme on consump-tion will be increased in low-income groups and rural families.Using the cross-section data in 2020 to test the credit constraint,it is found that compared with families with cred-it constraint,the pension scheme promoting effect will be enhanced in families without credit constraint.So policies should be carried out like enlarging the pension coverage in order to promote the household consumption.
urban and rural household pension schemehousehold consumptionconsumption structureurban-rural differencescredit constraints
NETL
NSTL
万方数据
