在生命周期理论、永久收入理论以及预防性储蓄理论的基础上考虑中国深刻的家庭观念,表现为代际之间在经济行为上的利他性,以及现阶段每代人基本相似的大额支出项目,提出了阶段性支出和代际支出循环的概念。并在这两个概念的基础上分析了我国家庭的收支行为以及资产价格、收入和消费率的关系,从新的视角解释了我国消费不足问题,并提出进一步的改革方向。 Considering China’s profound family values ​​based on life cycle theory, permanent income theory and precautionary saving theory, it manifests itself in the altruistic nature of economic behavior between generations and the large-sum expenditure items basically similar to each generation at this stage , Put forward the concept of phased expenditure and intergenerational expenditure cycle. Based on these two concepts, this paper analyzes the relationship between household income and expenditure, asset price, income and consumption rate in our country, explains the problem of consumption in our country from a new perspective and proposes further reform directions.