流动性约束、政府消费替代与中国居民消费波动

经济理论与经济管理 ›› 2012, Vol. 32 ›› Issue (2): 37-46.

流动性约束、政府消费替代与中国居民消费波动

屠俊明

中国人民大学经济学院

收稿日期:2012-01-04 出版日期:2012-02-16 发布日期:2012-03-05
作者简介:屠俊明（1983—），男，浙江宁波人，中国人民大学经济学院博士研究生。
基金资助:
国家社会科学基金重点项目（09AJL001）

LIQUIDITY CONSTRAINT, GOVERNMENT CONSUMPTION SUBSTITUTION
AND HOUSEHOLD CONSUMPTION VOLATILITY IN CHINA

TU Jun-Ming

School of Economics, Renmin University of China, Beijing , China

Received:2012-01-04 Online:2012-02-16 Published:2012-03-05

摘要/Abstract

摘要： 本文借用两个相关的模型探讨流动性约束和政府消费替代对于我国居民消费过度波动现象的解释力,发现流动性约束和政府消费分别通过弱化居民消费跨期优化能力和增强其对居民消费替代作用的渠道来增加居民消费波动，且前者的作用强于后者。本文同时发现流动性约束的增加减损居民福利，而政府消费替代比例的增加则能提高居民福利。

关键词: 流动性约束 , 政府消费 , 替代作用 , 消费波动

Abstract: This paper used two related models to explore the relationship between liquidity constraint, government consumption substitution and household consumption volatility in China This paper found that liquidity constraint and government consumption substitution could effectively increase household consumption volatility with the channels of weakening households ability of intertemporal optimization and substitution effect This paper also found that liquidity constraint decreased households welfare and government consumption substitution could help to increase households welfare

Key words: liquidity constraint , government consumption , substitution effect , consumption volatility

屠俊明. 流动性约束、政府消费替代与中国居民消费波动[J]. 经济理论与经济管理, 2012, 32(2): 37-46.

TU Jun-Ming.
LIQUIDITY CONSTRAINT, GOVERNMENT CONSUMPTION SUBSTITUTION
AND HOUSEHOLD CONSUMPTION VOLATILITY IN CHINA[J]. Economic Theory and Business Management, 2012, 32(2): 37-46.