A Study of Changes in Consumption Structure Based on the ELES Model and the Cobb-Douglas Utility Function in Both Directions
It is of profound significance to explore the issues of consumption upgrading to promote common prosperity.Based on the data of CFPS 2010-2020,we constructed a"vertical and horizontal two-way"identification model by combining the Extended Linear Expenditure Model(ELES),the CD utility function and the threshold regression,and empirically examined the situation of household consumption upgrading and consumption structure.Research findings indicate that from 2010 to 2020,the consumption structure of Chi-nese households showed a horizontal upgrading trend,but survival consumption expenditure remained dominant;by subdividing"three types and eight categories"of consumption,we have found that the proportion of survival and development oriented consumption is on the rise,while enjoyment oriented development has a greater preference for consumption,showing a layered consumption characteristic,and the household consumption structure is showing a diversified development trend;the three restrain lines of the total annual expendi-ture of the family are respectively 60100 yuan,122800 yuan,and 122900 yuan.Vertically,it is found that the budget constraint line is constantly moving backwards,indicating that the consumption structure is constantly upgrading.The article uses multiple threshold re-gression method combined with ELES model to construct a comprehensive identification model of consumption structure,which serves as the basis and standard for judging whether the consumption structure is upgraded or not.
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