Working Paper: NBER ID: w25813
Authors: Peter Koczanski; Harvey S. Rosen
Abstract: We use panel data on charitable donations to analyze how the philanthropic behavior of the Millennials (born between 1981 and 1996) compares to that of earlier generations. On the basis of a multivariate analysis with a rich set of economic and demographic variables, we find that conditional on making a gift, one cannot reject the hypothesis that the Millennials donate more than members of earlier generations. However, Millennials are somewhat less likely to make any donations at all than their generational predecessors. Our findings suggest a more nuanced view of the Millennials’ prosocial behavior than is suggested in popular accounts.
Keywords: Millennials; Philanthropy; Charitable Giving; Generational Differences
JEL Codes: D64
Edges that are evidenced by causal inference methods are in orange, and the rest are in light blue.
| Cause | Effect |
|---|---|
| millennials (D16) | amount donated (D64) |
| age, income, wealth (D31) | amount donated (D64) |
| millennials (D16) | likelihood of donations (D64) |
| amount donated (D64) | likelihood of donations (D64) |