Author(s)

Hailiang Yao

Central University of Finance and Economics, Beijing, China.

This paper empirically analyzes the influences of Chinese residents’ social class on their household consumption. According to the data of Chinese Family Panel Studies (CFPS) in 2016, considering the endogenous possibility of the social class on household consumption, the regression results of instrumental variables indicate that the social class of Chinese residents has a significant positive impact on household consumption. As for the policy implication behind this paper, when creating relevant consumption policies, responsible government departments in China should fully consider the possibility and complexity of the social class influence of residents on the policy effectiveness.

Social Class, Household Consumption, Chinese Households

Yao, H. (2020) Social Class and Household Consumption: Experience from China. Open Journal of Social Sciences, 8, 262-271. doi: 10.4236/jss.2020.81019.