Housing Debt and Insurance Allocation

主讲嘉宾 张吉鹏 教授

报告人简介:

张吉鹏，山东大学经济学院教授、博士生导师、大数据与微观调查研究中心主任。美国匹兹堡大学经济学博士，美国宾夕法尼亚大学、新加坡南洋理工大学访问学者。研究领域包括迁移经济学、户籍改革、发展经济学和公共政策等。相关成果发表于Journal of International Economics、American Economic Journal: Applied Micro、 Journal of Development Economics、International Economic Review等国际知名期刊。担任China Economic Review、Journal of Economic Behavior and Organization、Journal of Public Economics、Review of Economics and Statistics等多个国际权威期刊匿名审稿人。

论文简介:

This study investigates how housing debt influences household life insurance decisions by conceptualizing housing debt as prepaid on future labor income. Housing debt amplifies households’demand for insurance to hedge risks associated with future human capital, yet its rigid and long- term repayment obligations constrain current liquidity, potentially generating a gap between optimal and actual coverage. Using the 2013-2019 China Household Finance Survey, we show that the presence of housing debt increases life insurance participation, particularly among households with children and wage earners. Examining debt amounts reveals a nonlinear, inverted U-shaped relationship: moderate debt encourages coverage, whereas high repayment burdens constrain it. Longer mortgage maturities alleviate liquidity pressures, narrowing the gap between desired and actual insurance allocation.

活动时间: 2025年11月14日 星期五上午9:30-11:00

活动地点: 金融学院小会议室(劝学楼345)

主办单位: 金融学院、实验经济学实验室

欢迎广大教师、博士研究生、硕士研究生参加!