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Dynamic Income, Progressive Taxes, and the Timing of Charitable Contributions

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Author Info
Randolph, William C
Abstract

Using an econometric model of charitable giving and a ten-year panel of tax return data, the author finds that previous studies have underestimated the effects of permanent income and overestimated those of permanent changes in tax prices. The significant statutory tax changes that occurred during the 1980s, especially in 1986, serve to identify the key model parameters. The author's results imply that people smooth their giving when transitory income changes but also time their giving to exploit transitory changes in tax prices. The results also raise questions about how effectively the tax incentives permanently influence the level of charitable giving by individuals. Copyright 1995 by University of Chicago Press.

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Publisher Info
Article provided by University of Chicago Press in its journal Journal of Political Economy.

Volume (Year): 103 (1995)
Issue (Month): 4 (August)
Pages: 709-38
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Handle: RePEc:ucp:jpolec:v:103:y:1995:i:4:p:709-38

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  1. William Smith & Cyril Chang, 2002. "Shipping the good apples out: a note on contributions of time and money," Economics Bulletin, Economics Bulletin, vol. 10, pages 1-14. [Downloadable!]
  2. Austan Goolsbee, 1997. "What Happens When You Tax the Rich? Evidence from Executive Compensation," NBER Working Papers 6333, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  3. Melvin Stephens Jr. & Jennifer Ward-Batts, 2001. "The Impact of Separate Taxation on the Intra-Household Allocation of Assets: Evidence from the UK," NBER Working Papers 8380, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  4. Emmanuel Saez & Joel B. Slemrod & Seth H. Giertz, 2009. "The Elasticity of Taxable Income with Respect to Marginal Tax Rates: A Critical Review," NBER Working Papers 15012, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  5. David A. Reinstein, 2006. "Does One Contribution Come at the Expense of Another? Empirical Evidence on Substitution Between Charitable Donations," Economics Discussion Papers 618, University of Essex, Department of Economics. [Downloadable!]
  6. Deena Ackerman & Gerald Auten, 2008. "Tax Expenditures for Noncash Charitable Contributions," NBER Chapters, in: Incentive and Distributional Consequences of Tax Expenditures National Bureau of Economic Research, Inc. [Downloadable!]
  7. Gerald E. Auten & Holger Sieg & Charles T. Clotfelter, 2002. "Charitable Giving, Income, and Taxes: An Analysis of Panel Data," American Economic Review, American Economic Association, vol. 92(1), pages 371-382, March. [Downloadable!]
  8. Jon Bakija & Bradley Heim, 2008. "How Does Charitable Giving Respond to Incentives and Income? Dynamic Panel Estimates Accounting for Predictable Changes in Taxation," NBER Working Papers 14237, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  9. repec:bep:eaptop:v:5:y:2005:i:1:p:1421-1421 is not listed on IDEAS
  10. David Joulfaian & Mark Rider, 2003. "Errors in Variables and Estimated Price Elasticities for Charitable Giving," International Studies Program Working Paper Series, at AYSPS, GSU paper0307, International Studies Program, Andrew Young School of Policy Studies, Georgia State University. [Downloadable!]
  11. William N. Gentry & John R. Penrod, 1998. "The Tax Benefits of Not-for-Profit Hospitals," NBER Working Papers 6435, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  12. Jonathan Gruber, 2004. "Pay or Pray? The Impact of Charitable Subsidies on Religious Attendance," NBER Working Papers 10374, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  13. Dean Karlan & John A. List, 2006. "Does Price Matter in Charitable Giving? Evidence From a Large-Scale Natural Field Experiment," NBER Working Papers 12338, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  14. Jon Bakija, 2000. "Distinguishing Transitory and Permanent Price Elasticities of Charitable Giving with Pre-Announced Changes in Tax Law," Department of Economics Working Papers 190, Department of Economics, Williams College. [Downloadable!]
  15. Stephan Meier, 2006. "Do subsidies increase charitable giving in the long run?: matching donations in a field experiment," Working Papers 06-18, Federal Reserve Bank of Boston. [Downloadable!]
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  16. David Joulfaian, 2005. "Estate Taxes and Charitable Bequests: Evidence from Two Tax Regimes," Public Economics 0505004, EconWPA. [Downloadable!]
  17. Jon M. Bakija & William G. Gale & Joel B. Slemrod, 2003. "Charitable Bequests and Taxes on Inheritances and Estates: Aggregate Evidence from across States and Time," American Economic Review, American Economic Association, vol. 93(2), pages 366-370, May. [Downloadable!]
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  18. Craig E. Landry & Andreas Lange & John A. List & Michael K. Price & Nicholas G. Rupp, 2008. "Is a Donor in Hand Better than Two in the Bush? Evidence from a Natural Field Experiment," NBER Working Papers 14319, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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