中国住房公积金制度对城镇居民租房消费的影响——基于CHFS2017的实证研究

现有文献中还缺乏住房公积金对参与者租房消费水平影响的相关研究。基于2017年中国家庭金融调查数据（CHFS）的实证研究发现：住房公积金制度参与者的租房消费较非参与者有较明显的增加,在缓解潜在的内生性偏误之后,这个结论依然成立。通过异质性分析发现,对于高收入、稳定就业者和有管理职位或技术专长的居民而言,参与住房公积金对促进租房消费的作用更加明显。研究结果表明,一方面要积极利用住房公积金制度对租房消费的提振作用来支持租房市场的发展,并注意扩大住房公积金支持租房消费的受益面,另一方面也要让政策更加精准化,防止因住房公积金的补贴效应而扩大租客群体租房支付力的分化。

The Impact of China's Housing Provident Fund on the Urban Residents' Rental Housing-Based on the Empirical Study of CHFS

Based on the data of China Household Finance Survey (CHFS) in 2017, the empirical study finds that the rental consumption of the participants in the housing provident fund (HPF) system is significantly higher than that of those non participants. After alleviating the potential endogenous bias, this conclusion still holds. We further find that participation in the HPF can boost the rental consumption of the participants especially for those with high-income, stable employment and high ranked jobs. The results show that, on the one hand, we should actively use the boosting effect of the HPF system on rental housing consumption to support the development of the rental housing market, and pay attention to expanding the benefit coverage of HPF to support rental consumption. On the other hand, we should make the policy more precise to prevent the differentiation of tenants paying power due to the subsidy effect of HPF.