Dynamic Income, Progressive Taxes, and the Timing of Charitable Contributions
利用十年面板税务数据，发现以往研究低估了永久收入对慈善捐赠的影响，高估了永久税价变化的影响；人们会平滑临时收入变化带来的捐赠，并利用临时税价变化调整捐赠时机。
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.