The Effects of Uncertainty Risks on Consumption of Migrant Workers under the Economic New Normal
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Based on the precautionary theory, this paper established a framework for consumption of migrant workers from the perspective of the uncertainty risk, and analyzed the effects of uncertain income risk on consumption of migrant workers using the quantile regression method. Results indicated that the income uncertainty significantly inhibits the consumption of migrant workers. The lower the consumption level or the lower the income level, the stronger the inhibitory effect will be. Uncertainty of expenditure also has a significant inhibitory effect on the consumption of migrant workers. Promoting urbanization of migrant workers and accelerating the reform of the household registration system can reduce the uncertainty risks faced by migrant workers, so as to raise the consumption expectation of migrant workers, release the consumption potential of migrant workers, and improve the living standards of migrant workers.