Is Crowding Out Due Entirely to Fundraising? Evidence from a Panel of Charities
---- Acknowledgements -----
This research was supported by grants from the National Science Foundation, from the Social Sciences and Humanities Research Council of Canada, the Canada Foundation for Innovation, and the Ontario Innovation Trust. We would also like to thank the Urban Institute for providing us with access to the IRS 990 data set. We're grateful to Justin Rao and participants in various seminars and conferences for helpful comments. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.