Household asset structure, pension security, and consumer spending

Xixi Guo, Kewen Luo and Jun Fang

Finance Research Letters, 2025, vol. 77, issue C

Abstract: This study uses data from the 2015, 2017, 2019, and 2021 Comprehensive Survey of Social Conditions in China to examine how household financial asset structure(HAS) affects resident consumption, focusing on pension security's mediating role. Findings indicate the negative correlation between HAS and residents’ consumption. Moreover, pension security acts as a mediator in the linkage between HAS and residents’ consumption, whereas Internet usage moderates this association, with this moderating effect exhibiting urban–rural heterogeneity and marital heterogeneity.

Keywords: Household financial asset structure; Pension security; Residents’ consumption; Internet usage (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:77:y:2025:i:c:s154461232500371x

DOI: 10.1016/j.frl.2025.107108

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