Collaborative Research: Empirical Studies of Altruism and Saving

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This research consists of four separate, but related empirical projects aimed at increasing our understanding of altruistic behavior and household saving. The projects examine the relationship between monetary charitable contributions and volunteer labor supply; the degree to which private intrafamily transfers are affected by public transfers; the effects on household saving of the 1986 changes in the tax treatment of Individual Retirement Accounts; and the effects of borrowing constraints on household saving and the consumption of durables. The first study develops a theoretical model of household charitable behavior that yields several important empirical propositions. These will be examined using data from both the 1986 Survey of Consumer Finances (SCF) and a new dataset on volunteerism. The study of intrafamily transfers will be the first to examine existing theoretical models and the responsiveness of intrafamily transfers using data from the Panel Study on Income Dynamics. The third study will use the three-way SCF panel to analyze the effects of statutory changes in deductible IRA contribution limits. It will extend the authors' previous work in this area. The last project will investigate the duration of borrowing constraints and the effects of these constraints on household saving and the consumption of durables using the SCF panel.