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JACIII Vol.28 No.3 pp. 685-692
doi: 10.20965/jaciii.2024.p0685
(2024)

Research Paper:

Population Aging, Housing Price, and Household Consumption

Yong Wang*,**,† ORCID Icon and Tingting Sun**

*Key Laboratory of Data Science in Finance and Economics, Jiangxi Economic Forecasting and Decision Research Center, Jiangxi University of Finance and Economics
No.169 Shuanggang East Street, Nanchang, Jiangxi 330013, China

**School of Statistics and Data Science, Jiangxi University of Finance and Economics
No.169 Shuanggang East Street, Nanchang, Jiangxi 330013, China

Corresponding author

Received:
September 26, 2023
Accepted:
February 19, 2024
Published:
May 20, 2024
Keywords:
population aging, housing price, household consumption level, PVAR model, mediating effect model
Abstract

Population aging and housing price can affect household consumption, and population aging can indirectly affect household consumption through housing price. This study uses panel data from 31 provinces and cities in China between 2001 and 2018 to construct a panel vector autoregression model for analyzing the impact of population aging and housing price on household consumption level. We determine that population aging and housing price positively impact household consumption level, and population aging also has a positive effect on housing price. The mediating effect model using time series data from 2001 to 2018, with housing price as the mediating variable reveals that population aging directly increases household consumption level, and indirectly increases it through housing price. Finally, this study proposes suggestions such as optimizing the population structure, improving the housing system, and advancing the development of the older adult industry.

Cite this article as:
Y. Wang and T. Sun, “Population Aging, Housing Price, and Household Consumption,” J. Adv. Comput. Intell. Intell. Inform., Vol.28 No.3, pp. 685-692, 2024.
Data files:
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Last updated on Oct. 01, 2024