关键词: 习惯形成, 预防性储蓄, 缓冲储备储蓄, 城镇居民消费行为

Abstract: Firstly this paper analyzes the reasons of habit formation and its effects on consumption, my conclusions are: 1.Since economic reform, with a rapaid growth of economy the livelihood have been improving for most chinese urban households, so their target is keeping consumption growth step by step, therefore the consumption utility between current and past are correlated.2. The larger habit formation parameter becomes, the lower MPC is.That means consumer behaviour under habit formation is similar to the behaviour induced by prudence.3.In addition, high saving rate also incraese abilty to resist risk, so the stroner habit is, the less income uncertainty will influence consumption. Then, this paper incorperates buffer-stock saving model with habit formation, and the data of urban households in China’s 26 provinces from 1997 to 2007 are used for an empirical study. Estimated result shows, both habit formation and income uncertainty are important reasons for urban households’ high saving rate.

Key words: Habit Formation, Precautionary Saving, Buffer-stock Saving, Consumer Behavior of Urban Households