超低生育率已成为中国社会面临的重大挑战,单纯依靠放松生育政策来刺激生育率的作用相对有限,还需要从育龄家庭资源代际分配的真实约束出发来探寻提升生育意愿的配套措施.文章基于中国家庭追踪调查(CFPS)微观数据,从育龄家庭孝亲和抚幼叠加压力的视角考察了父辈养老投资情况对青年子女生育决策的代际影响.结果表明,父辈参与正规养老投资和不参与相比,子代生育概率将显著提高5-7个百分点,说明子代会根据对父辈的赡养压力来决定是否生育,从而缓解孝亲和抚幼的叠加压力.同时,文章并未发现父辈参与非正规养老投资有此作用.在作用机制上,父辈参与正规养老投资可能获得的养老保障和激发出的自我养老规划能力能够减少子代对其的经济支持,削弱子代孝亲对抚幼的挤出效应,从而提高子代的生育概率.父辈参与正规养老投资来自我养老对子代生育的代际效应在丈夫不参与育儿、女性在非国有部门工作、工作单位不提供生育保险和生育机会成本较高的子代中体现得更为明显,具有更大的促进作用.文章研究表明,在当前育儿压力加大和生育机会成本较高的情况下,父辈参与正规金融投资进行自我养老具有明显的"溢出效应",依靠金融手段的养老既能保障老年人的福利水平,又能在客观上提高生育率.

The digital economy is a pivotal force driving economic development that has profoundly changed the public's way of life. However, less privileged elderly groups may be unable to enjoy the digital dividend, which is an issue to be answered in the digital era. This study examines the China Internet Plus Index and explores the China Health and Retirement Longitudinal Study micro database. Furthermore, the study measures the degree of improvement in the lives of the elderly more intuitively using the consumption upgrade metric and examines the impact of the digital economy on the lives of the elderly. The findings indicate that digital economic development has made a remarkable contribution to the scaling up the elderly population's economic structure and material affluence. The results of propensity score matching and the instrumental variables approach remain robust. The digital dividend for senior individuals is mainly delivered through more convenient payment, lower search costs, and more social interaction. Moreover, elderly individuals living in bigger cities with high human and physical capital or digital and media literacy enjoy more digital dividends. Therefore, while supporting the digital economy's development, the government should prioritize and spend resources on elderly individuals who enjoy fewer digital dividends to realize the equality of digital rewards. The study's findings can provide a new perspective on the overall balanced development of the digital economy and help stimulate the development of the elderly market by releasing digital dividends.

Expanding domestic demand should be the strategic basis of the “dual circulation” development pattern. Consumption upgrading is an important starting point of expanding the domestic demand policy. Among them, the elderly has the potential to form a super-large-scale market with their huge population and accumulated wealth over the years, and they are a force that cannot be ignored in consumption upgrading. To promote the consumption upgrading of the elderly is the key to turn the inherent potential into real advantages. It is advisable to study how to promote the consumption upgrading from the most significant characteristics in the life of the elderly. The rise of various forms of social interaction for the elderly represented by the square dance is the most concerned feature of the elderly nowadays. Therefore, from the perspective of social interaction, it is of great practical significance to study its impact on the consumption upgrading of the elderly.Based on the micro data of the China Health and Retirement Longitudinal Study (CHARLS), this paper examines the relationship between social interaction such as square dance and consumption upgrading of the elderly. For the first time, this paper takes the difference of information content transmitted by social interaction as the distinguishing standard of social interaction effect mechanism, analyzes the internal mechanism of social interaction influencing consumer behavior, and discusses the regulatory role of different situations such as filial support and skip-generation raising. The result shows that, social interaction has a significant positive impact on the consumption upgrading of the elderly, and the conclusion is still valid under the control of endogeneity. The mechanism test shows that although the social breadth will partly increase the conspicuous consumption of the elderly through the demonstration effect, the cognitive effect in social interaction actually improves the life quality of the elderly. Further research shows that filial support will enhance the promotion effect of social interaction on the consumption upgrading of the elderly, while skip-generation raising will weaken the promotion effect.The conclusion is that paying attention to the spatial and temporal agglomeration effect of the elderly consumption market, increasing the public infrastructure of the elderly social activities, and reducing the pressure of the elderly intergenerational care will promote the consumption upgrading of the elderly. This paper discusses the driving force behind the consumption upgrading of the elderly from the perspective of social interaction, which is helpful to understand the consumption characteristics of the elderly, and provides some line of thinking about promoting the development of silver-hair market and constructing the “dual circulation” development pattern.

作为受环境规制约束最大的企业,重污染企业有动机通过调整空间分布来规避环境规制的影响.本文基于重污染企业子公司的数据,考察了环境规制对企业空间迁移行为的影响.研究发现,属地环境规制加强使得重污染企业异地子公司数量显著增加、分布更分散、母子公司距离更远,证实了重污染企业的跨省污染转移行为.此现象在国有和民营重污染企业都存在,且后者迁移尺度更大.重污染企业异地设立子公司能够减少环境规制对利润的负向影响.对比重点控制和环保约谈两项协同治理政策,本文发现静态差异化环境规制会诱发重污染企业迁移,建议强化政策协同动态机制.