Precautionary Saving in a Dynamic Model of Consumption and  Labor Supply
{'Code': '04050100', 'Directorate': {'Abbreviation': 'SBE', 'LongName': 'Direct For Social, Behav & Economic Scie'}, 'Division': {'Abbreviation': 'SES', 'LongName': 'Divn Of Social and Economic Sciences'}}
{'SignBlockName': 'Daniel H. Newlon', 'PO_EMAI': None, 'PO_PHON': None}
Most economists agree that the decline in the savings rate in the               United States over the past two decades is a cause for concern.  But            there is conflicting evidence as to the reasons U.S. saving are so low.         Much of this evidence is based on models of savings under perfect               certainty because realistic intertemporal models of saving under                uncertainty are intractable.                                                    The contribution of this project comes from developing software                 for vector calculations on a supercomputer that meet the substantial            computing and programming requirements of an intertemporal model of             consumption and labor supply with overlapping sources of uncertainty            and a realistically large number of periods in the model.  Numerical            methods will be used to estimate the magnitude of precautionary saving,         that is, saving caused by uncertainty about future events.                                                                                                      The magnitude of precautionary saving depends in an important way               on the extent that existing private and public insurance programs               reduce individual uncertainty.  Existing and potential future                   government insurance programs, such as Social Security, unemployment            insurance, Medicaid, Medicare, and catastrophic health insurance,               create highly nonlinear or kinked budget constraints which are                  impossible to model in the standard analytic framework.  The numerical          solution techniques developed by this project will permit the effects           of these nonlinear insurance and tax programs to be measured                    accurately.
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{'Name': 'National Bureau of Economic Research Inc', 'CityName': 'CAMBRIDGE', 'ZipCode': '021385359', 'PhoneNumber': '6178683900', 'StreetAddress': '1050 MASSACHUSETTS AVE', 'StreetAddress2': None, 'CountryName': 'United States', 'StateName': 'Massachusetts', 'StateCode': 'MA', 'CONGRESSDISTRICT': '05', 'CONGRESS_DISTRICT_ORG': 'MA05', 'ORG_UEI_NUM': 'GT28BRBA2Q49', 'ORG_LGL_BUS_NAME': 'NATIONAL BUREAU OF ECONOMIC RESEARCH INC', 'ORG_PRNT_UEI_NUM': None}
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{'Code': '1320', 'Text': 'Economics'}
{'url': 'https://www.nsf.gov/awardsearch/download?DownloadFileName=1987&All=true', 'xml': '8707997.xml'}