住房与幸福：幸福经济学视角下的中国城镇居民住房问题
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| Title | Homeownership and Happiness: Theory and Evidence from China
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| 作者 | 李涛 史宇鹏 陈斌开 |
| Author | Tao Li, Yupeng Shi and Binkai Chen |
| 作者单位 | 中央财经大学经济学院 |
| Organization | School of Economics, Central University of Finance and Economics |
| 作者Email | econlitao@gmail.com;shiyupeng@pku.edu.cn;chenbinkai@gmail.com |
| 中文关键词 | 住房 幸福 流动性约束 预防性储蓄 |
| Key Words | Homeownership; Happiness; Liquidity Constraints; Precautionary Saving |
| 内容提要 | 以居民幸福感为民生指标，本文系统研究了家庭自有住房状况对居民幸福感的影响。首先，文章从理论上研究了住房影响居民幸福感的两种新机制——流动性约束和预防性储蓄；其次，基于中国跨省区城镇居民调查数据，本文对这两种机制进行了实证分析并获得了如下重要发现：（1）不同产权类型的自有住房对居民幸福感的影响存在显著差异：拥有大产权住房和更多的大产权住房能够显著提高居民幸福感，但拥有小产权住房以及小产权住房的数量对居民幸福感没有显著影响；（2）平均而言，大产权住房给首次置业和二次（或多次）置业这两个居民群体带来的幸福感提升幅度并没有显著差异。但是，进一步研究发现，对于预防性储蓄动机更强和更有可能受到流动性约束的家庭，二套（或多套）大产权住房为其带来的幸福感提升幅度与首套房没有显著差异，而预防性储蓄动机较弱和受流动性约束可能性更低的家庭，大产权住房数量对居民幸福感提升的边际作用递减。这些发现很好地支持了本文的理论模型。 |
| Abstract | Housing has already become one of most important livelihood problems concerned by Chinese society. This paper studies the impacts of housing on the household happiness. Our theoretic model contributes to the existing literature by introducing two important channels from housing to happiness: liquidity constraints and precautionary savings. Based on the theoretic framework, this paper empirically analyzes the impact of homeownership on household head's happiness using China urban household survey data collected from 41 cities in 2009. Several important findings are derived. First, the effect of homeownership on happiness is significant different among different types of house property rights: owning commercial houses significantly improves happiness; while owning non-commercial houses does not have any significant impacts on happiness. Second, the 'marginal' happiness derived from the number of commercial housing does not decline. Further study shows that, the marginal utility of housing for people with strong precautionary savings motive and those who are more likely to be liquidity constrained is not declining, while the marginal utility of housing for people with weak precautionary savings motive and those who are less likely to be liquidity constrained is declining. These results strongly support our theoretical results. |
| 文章编号 | WP89 |
| 登载时间 | 2011-07-19 |
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