The Dynamic Elastic Analysis of the Net Effect of National Debt on Residents’ Consumption Based on Variable-parameter Mode
Read
DownLoad |
| Title | The Dynamic Elastic Analysis of the Net Effect of National Debt on Residents’ Consumption Based on Variable-parameter Mode
|
| Author | Zhang Yishan,Chen Mo and Zhang He |
| Organization | Jinlin University;RENMIN University |
| Email | hezhang@ruc.edu.cn |
| Key Words | National Debt; Residents’ Consumption; Variable-parameter Model |
| Abstract | Firstly, based on state-space equations of the variable parameter model to China between 1981 and 2011 bonds issued on the impact of urban and rural residents' consumption dynamic elastic empirical test and found that the national debt issue for the consumption of rural residents was not significant, for urban residents, the long-term treasury bonds have a positive result of its effect. But short term, the rapid increase in the amount of bonds issued for urban residents 'consumption expenditures have some negative substitution effect, elasticity trends show that China's bond issuance for the degree of influence of urban residents' consumption is small, and a phased reduction of trend. The next panel data based on variable coefficient model checking explains the reason that the National Debt by only the highest income of urban residents consumption produced a significant positive result effect, while for most other sectors have little effect. |
| Serial Number | WP604 |
| Time | 2014-08-04 |
|