The impact of loose monetary bet365 free bets on income distribution
March 08, 2023 09:31 Source: "bet365 free bets Social Sciences Journal" March 8, 2023, Issue 2605 Author: Gao Bei

Common prosperity is the essential requirement of socialism with Chinese characteristics,is the common expectation of the people,Is an important feature of Chinese modernization。Proposed again at the 20th National Congress of the Communist Party of China,“We must standardize the order of income distribution,Standardize wealth accumulation mechanism”。Narrowing the income and wealth gap,has become an urgent problem to be solved on the road to Chinese modernization。In the context of achieving common prosperity,Study the impact of monetary bet365 free bets on income and wealth gaps,It has important inspiration and reference significance for promoting the realization of the goal of common prosperity。

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Since the 1980s,Income and wealth gaps are widening in nearly every country around the world,Such disparity issues are also of concern in China,The Gini coefficient has been hovering at a high level for a long time。Meanwhile,The family wealth gap is more obvious than the income gap,And real estate has become an important reason for the widening gap in family wealth。Calculated based on CFPS survey data,The average proportion of real estate in Chinese households to total household assets is 75.7%,Real estate contributes as much as 70% to the wealth gap。Theoretically,The factors causing economic disparity are multi-dimensional,such as globalization、Technological progress、Population Trends、Changes in the labor market, etc.。In addition,More and more studies also show,Easy monetary bet365 free bets will also exacerbate income and wealth gaps,The theoretical mechanism by which loose monetary bet365 free bets affects income gap is given below。

1st,Easy monetary bet365 free bets will have an impact on income distribution and wealth valuation。Due to the income composition of different families、There are differences in saving habits and investment abilities,These may cause monetary bet365 free bets to have an impact on income distribution and wealth valuation。For example,Monetary bet365 free bets through the portfolio channel,can have a positive or negative impact on household investment income,Usually will allow households holding financial assets and real estate to obtain more investment income。At the same time,Monetary bet365 free bets will affect asset prices through changes in interest rates,Usually loose monetary bet365 free bets will significantly increase the prices of various assets including real estate,That is, investment income and financial assets are important components of family wealth,The value of wealth can often be increased when implementing loose monetary policies。

Second,Easy monetary bet365 free bets will exacerbate the gap between rich and poor。Since the financial crisis,Major countries have implemented quantitative easing monetary policies for a long time,Global long-term interest rates and real neutral interest rates continue to decline。Accompanied by,The gap between countries has worsened sharply,Raising concerns about whether loose monetary bet365 free bets is exacerbating the gap between rich and poor。Theoretically,Easy monetary bet365 free bets benefits the rich by increasing investment income and asset prices,This then leads to the widening gap between the rich and the poor。The empirical results fully support this,Easy monetary bet365 free bets will significantly increase the per capita income and per capita wealth of households,But it has a greater impact on the latter。In addition,There is heterogeneity in the impact of monetary bet365 free bets on household income and wealth,That is, loose monetary bet365 free bets for high income、The impact of high net worth families is far greater than that of low income families、Low net worth families。Therefore,Due to the asymmetry of the impact of monetary bet365 free bets,The result of wealth accumulation must be asymmetric。

 Third,The impact of loose monetary bet365 free bets on wealth gap is related to real estate。Considering family preferences for real estate investment,Existing research findings,The reason why monetary bet365 free bets has a greater impact on wealth inequality,Because of the overall rapid increase in property values,And urban and rural areas、Severe imbalance in regional real estate development,That is, real estate is an important factor causing the impact of monetary bet365 free bets on wealth gap。Usually when house prices rise rapidly,Family wealth holding more properties will increase faster。In addition,In the context of urban and rural real estate market segmentation,Rural properties are difficult to value due to low liquidity,Little room for appreciation,Easy monetary bet365 free bets has caused the income and wealth of urban households to grow much faster than rural households,Expanding the gap between urban and rural areas,Increasing the gap between rich and poor in the entire society。Same,There are also serious imbalances in the development of real estate in different regions,This results in the impact of loose monetary bet365 free bets on household income and wealth in the developed eastern regions being significantly higher than that in the less developed regions in the central and western regions。

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Oriented by common prosperity,Better identify the impact of loose monetary bet365 free bets on residents’ income and wealth gaps,Need to always adhere to the neutrality of monetary bet365 free bets,Actively and steadily develop the real estate market,Adhere to the concept of balanced and shared economic development。

1st,Adhere to the prudent and neutral monetary bet365 free bets。The monetary and credit bet365 free bets led by the central bank,Is the macroeconomic force that affects income inequality in the business cycle。For this,We should pay close attention to the impact of monetary bet365 free bets on income gap,Fully estimate the effects of different bet365 free bets combinations on income and wealth distribution,Strengthen theoretical research and public communication。Maintain monetary bet365 free bets stability,Never engage in "flood irrigation",Be more cautious in maintaining long-term bet365 free bets stability,Avoid being influenced by short-term bet365 free bets goals。Especially when the supply of funds in financial markets is relaxed in response to an economic recession,Various structural monetary bet365 free bets tools should be used flexibly,Make it work as it should。

Second,Actively and steadily develop the real estate market。Given that monetary bet365 free bets mainly affects household wealth through the real estate market,We still need to adhere to the long-term bet365 free bets of "housing for living, not for speculation"。Stabilize urban real estate prices,Optimizing financial services for affordable housing。At the same time,Make good use of the assets of rural residents,Breaking the dual pattern of urban and rural real estate,In rural residence、Lin Quan、Based on the confirmation of land contract management rights,Gradually forming an integrated urban and rural real estate trading market,Increase rural family income and wealth in a reasonable and orderly manner。

 Third,Adhere to the concept of balanced and shared economic development。Continuing to adhere to development is the first priority,Coordinate urban and rural areas、Balanced regional development,Continuously increase the proportion of urban land transfer fees to support rural areas。Make good use of fiscal and tax incentive and constraint tools,Play the role of tax adjustment,So that it can alleviate the bet365 free bets and wealth gap。Pay close attention to the regulating effect of property-related taxes,Establishing a sound inheritance tax、A long-term redistribution mechanism with property tax and capital bet365 free bets tax as the core。Actively and steadily promote legislation related to property tax,Inheritance tax and gift tax on a pilot basis。In addition,We should also increase investment in education and popularize financial knowledge,Improve the financial literacy of all people,Vigorously develop inclusive finance,Promote financial resources to benefit more families。

  (Author’s affiliation: School of Economics and Finance, Xi’an Jiaotong University)

Editor: Chen Jing
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