关键词: 新农保, 精准扶贫, 农村低收入家庭, 贫困脆弱性, 贫困标准

Abstract: To investigate whether new rural pension program can effectively reduce poverty vulnerability of rural lowincome households under precision poverty alleviation policy，this paper uses datasets from CFPS 2014，2016 and 2018，calculates poverty vulnerability based on poverty line of 2,300 yuan per year and 32 dollars per person per day，and uses twoway fixedeffects model and instrumental variable method to do empirical analysisThe results show that participating in new rural pension program has a significant weakening effect on poverty vulnerability of rural lowincome families in general，but the increase of recipients of new rural pension has aggravated poverty vulnerabilityHeterogeneity analysis according to the stages of receiving insurance finds that participating and the increase in the number of paid participants in new rural pension program have significantly weakened poverty vulnerability of both uninsured and insured householdsWhile receiving new rural pension has no significant impact on poverty vulnerabilityFurther heterogeneity analysis shows that participating in new rural pension program can improve poverty vulnerability of families without unhealthy members，and has a significant effect on alleviating poverty vulnerability of families without savings or loansMechanism test shows that participating in new rural pension program can increase the family's productive fixed assets and reduce intergenerational transfers，thereby weakening the family's poverty vulnerability，while receiving new rural pension increases children's financial support for the elderly and aggravates poverty vulnerability

Key words:  , new rural pension program, precision poverty alleviation policy, rural lowincome households, poverty vulnerability, poverty standards