The Impact of Pension Income Amount on Elderly Consumption:An Empirical Analysis Based on CHARLS Data
As China places increasing emphasis on the development of the silver economy,elderly consump-tion is expected to become a crucial area for expanding domestic demand and a new driver for long-term e-conomic growth.Based on the statistics of 2020 national survey from the China Health and Retirement Lon-gitudinal Study(CHARLS),this paper analyzes the impact of pension income amount on elderly consump-tion and examines the moderating effects of labor income,children's economic support,and health status on this issue.Additionally,the study conducts a heterogeneity analysis from the perspectives of household registration status and age.The results show a strong positive relationship between the increase in pension income amount and overall elderly consumption,as well as consumption in various categories.In terms of moderating effects,labor income to some extent mitigates the positive impact of increased pension income a-mount on elderly consumption,while the amount of economic support from children enhances the positive effect of pension income amount on medical consumption.Moreover,better health status of the elderly strengthens the positive impact of pension income amount on basic consumption but weakens the impact on medical consumption.Regarding heterogeneity,significant differences are observed in the coefficients of the impact of increased pension income amount on consumption across different household registration types and age groups.Specifically,the impact on total consumption,basic consumption,service consumption,and cultural and entertainment consumption varies significantly among different age groups,but no significant differences are found in the impact on medical consumption.Therefore,to further enhance elderly con-sumption,efforts should be directed towards coordinating urban and rural pension insurance systems,provi-ding elderly-friendly products,reinforcing family-based elderly care,improving the health of the elder-ly,and developing the cultural and entertainment industry for the elderly.
pensionthe elderlyconsumptionfinancial securitystructure of consumption
NETL
NSTL
万方数据
