消费信贷对我国城镇居民消费水平的平滑效应研究

onsumer credit achieves consumption smoothing by easing liquidity constraints. Through theoretical derivation, the smooth effect of consumer credit on consumption is proved from two aspects of the period and the current period. Based on the inter provincial panel data, the two system panel smooth conversion (PSTR) model is established, and the smooth effect of consumer credit on the consumption of urban residents is studied, and the existence of the nonlinear influence relationship is affirmed. The empirical results show that the current consumer credit has a positive linear and nonlinear impact on the consumption expenditure of urban residents, while in the lagging one, it shows a negative inhibitory effect, but its strength is less than that of the current period, indicating that consumer credit is stimulating consumption at the same time.