摘要
In2015,TheCentralBankcutinterestratessixtimesinarow.Therearetwomainpurposes:oneistoreducetheinterestburdenoncorporateloans,andstimulatecorporateinvestment.Second,toreduceinterestincomeonresidentialdeposits,andstimulateresidentstoincreasecurrentconsumption.However,manyempiricaldataprovethatalthoughtheeffectofinterestratedeclineonstimulatingcorporateinvestmentismoreobvious,theeffectofstimulatingresidentstoincreasecurrentconsumptionisnotobvious,andhouseholdsavingscontinuetogrowrapidly.Thisshowsthatthemainfactoraffectingthecurrentconsumptionofresidentsisnolongerthebank’sdepositinterestrate,buttheirreplaceabilityoffutureconsumergoodsforcurrentconsumergoods,incomerestrictionsandothereconomicfactorsthatcanaffectcross-timeconsumption.Thispaperisbasedonthetheoryofintertemporalutilitymaximization.TheempiricalanalysisoftheimpactoftheratechangeonChina’sresidents’consumption,lookingforthereasonswhyresidents’consumptionisnotsensitivetochangesintherate,andputforwardcorrespondingcountermeasuresandsuggestions.
出版日期
2018年03月13日（中国期刊网平台首次上网日期，不代表论文的发表时间）
