Pension Insurance, Consumption Identity and Urban Consumption of Migrant Workers
Consumption is both an economic and a social behavior, and the urban consumption of migrant workers holds significant importance for their integration into city life and urban economic growth. This paper employs Ordinary Least Squares (OLS) regression and quantile regression methods to empirically examine the impact of the pension insurance system on the urban consumption of migrant workers. The results indicate that, on average, pension insurance can enhance migrant workers' consumption recognition and expenditure, with consumption recognition serving as a mediating effect that strengthens the promoting effect of pension insurance on consumption expenditure. At different quantile points, the consumption effects of pension insurance vary. At lower quantiles, pension insurance can promote the consumption of migrant workers, and the mediating mechanism of consumption recognition exists. However, at higher quantiles, the consumption effect of pension insurance is not significant. Migrant workers at lower consumption levels face lower contribution burdens, and the psychological effect of participating in pension insurance is stronger, thereby making the promoting effect of pension insurance on consumption significant. The article suggests deepening the reform of the household registration and pension insurance systems, increasing the enrollment rate of migrant workers, and simultaneously lowering the threshold for receiving benefits under the system.
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