关键词: 共同富裕, 长期护理保险, 家庭消费相对剥夺, 多时点双重差分

Abstract: Using five periods of CHARLS data from 2011 to 2020, this paper empirically examines the policy effects and pathways of long-term care insurance on households' relative deprivation of consumption by constructing a Tobit model containing Time-varying DID. The findings show that long-term care insurance significantly reduces the consumption relative deprivation index of insured households compared with uninsured households. And long-term care insurance presents significantly heterogeneous policy effects. In terms of family characteristics, the effects are greater for families with moderate and severe incapacitation of elderly family members, aged 60 or above, and non-agricultural household registration. In terms of payment methods, the effects of long-term care insurance with mixed payment methods is stronger. The results of the mechanism analysis show that long-term care insurance mainly reduces the relative deprivation of consumption of households through two paths: promoting the employment of children of low and medium-consumption households and reducing the precautionary savings of low and medium-consumption households. The above findings are of great significance to the soundness of the long-term care insurance system, the maintenance of social justice and the realization of the goal of “common prosperity”.

Key words: Common Prosperity, Long-term Care Insurance, Household Consumption Relative Deprivation, Time-varying DID