Impact of household head’s personal characteristics on household durable goods consumption

Xuepin Wu and Qinwen Zhang

Finance Research Letters, 2025, vol. 81, issue C

Abstract: This study examines the impact of household head characteristics on durable goods consumption using 2011–2019 data from the China Household Finance Survey (CHFS) and the probit model. The results indicate that the greater the primary earner’s risk aversion, age, and number of working hours, lower the consumption propensity. In contrast, unexpected income sources increase consumption, and higher education levels promote it. Impoverished households, after receiving government subsidies, tend to repair old goods rather than purchase new ones. The study recommends focusing on improving educational attainment and shifting predominantly short-term, survival-oriented, or broad-based subsidies toward consumption-driven incentives.

Keywords: Durable goods consumption; Personal characteristics; Probit model (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:81:y:2025:i:c:s1544612325007019

DOI: 10.1016/j.frl.2025.107441

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