Abstract: The aging of population has impacts on the consumption of the aged population By affecting the savings rate，labor supply，labor productivity，economic growth，aging will be indirectly influencing consumer demand The empirical analysis shows that the effect of income on household consumption is significant，that is the lower the income，the greater the propensity of marginal consumption; the increase of the elderly dependency ratio is an important factor in reducing household consumption A comparison of urban and rural areas shows that population aging significantly reduces consumption expenditure of urban residents while the effect for rural residents is not significant; rising child dependency ratio significantly increases consumption expenditure of both urban and rural residents A comparison of eastern，central and western areas suggests that the descending order of the effect of population aging on household consumption is east，central and west areas; the descending order of the effect of child dependency ratio on household consumption is central，west and east areas; while the descending order of the effect of elderly dependency ratio on household consumption is east，central and west areas in China.

Keywords: Population Age Structure, Child Dependency atio, Elderly Dependency ate, Household Consumption

摘要： 老龄化对老龄人口自身消费将产生影响;老龄化通过影响储蓄率、劳动供给、劳动生产率、经济增长将间接作用于消费需求。实证分析表明:收入对居民消费支出的影响显著,收入越低的地方边际消费倾向越大;老年抚养比的提高是导致居民消费降低的一个重要原因。城乡比较显示:人口老龄化的提高显著降低了城市居民的消费支出,而对农村居民的影响不显著;少儿抚养比的提高显著增加了城乡居民的消费支出;老年负担率的提高显著降低了城镇居民的消费支出,而对农村居民的影响比较微弱。东中西部地区比较表明:人口老龄化对居民消费的影响由大到小依次是东部、中部、西部;少儿抚养比对居民消费的影响由大到小为中部、西部、东部;老年负担率对居民消费的影响由大到小为东部、中部、西部。

关键词: 人口年龄结构, 少儿抚养比, 老年抚养比, 居民消费