An investigation of whether pensions increase consumption: Evidence from family portfolios

Cao Xinbang, Fei Wang, Yang Wang and Youxin Wang

Finance Research Letters, 2022, vol. 47, issue PA

Abstract: This article makes an empirical analysis on the impact of pension on residents' consumption from a micro point of view.It can be seen that pension has a great impact on residents' consumption, which is consistent with Keynesian consumption function theory. The pension system plays a great role in guaranteeing the basic life of residents after retirement. We concludes that there is an obvious positive correlation between the basic social pension and residents' consumption level.

Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:47:y:2022:i:pa:s1544612321005390

DOI: 10.1016/j.frl.2021.102591

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