房价对城镇居民消费升级的影响

本研究基于2008~2019年全国35个大中城市的面板数据，利用固定效应模型和分位数回归模型分析了房价对居民消费升级的影响，并在此基础上分析了不同收入水平城市房价影响消费的异质性。结果显示：房价上涨显著挤出了城镇居民发展享受型消费，且城市居民发展享受型消费支出占比越高，挤出效应越大，不利于居民消费升级，尤其对高收入水平城市影响较大。消费升级是促进国内大循环、推进国内国际双循环新发展格局的重要环节和内容，房价对居民消费升级的影响不容忽视。

The Impact of House Prices on the Consumption Upgrade of Urban Residents

Based on the panel data of 35 large and medium-sized cities across the country from 2008 to 2019, this study used a fixed effect model and a quantile regression model to analyze the impact of housing prices on household consumption upgrading, and on this basis, analyze the heterogeneity of income level to the impact of housing prices on consumption. The results show that the rise in housing prices significantly squeezes out the development of enjoyment consumption by urban residents, and the higher the proportion of urban residents'' enjoyment-oriented consumption expenditure, the greater the crowding out effect, which is not conducive to the upgrading of residents'' consumption, especially for high income level cities. Consumption upgrade is an important link and content to promote the domestic cycle and promote the new development pattern of domestic and international dual cycles. The impact of housing prices on the consumption upgrade of residents cannot be ignored.