  We study the charge and spin currents passing through a magnetic tunnel
junction (MTJ) on the basis of a tight-binding model. The currents are
evaluated perturbatively with respect to the tunnel Hamiltonian. The charge
current has the form $A[\bm M_1(t)\times\dot{\bm M}_1(t)]\cdot\bm M_2+B\dot{\bm
M}_1(t)\cdot\bm M_2$, where $\bm M_1(t)$ and $\bm M_2$ denote the directions of
the magnetization in the free layer and fixed layer, respectively. The constant
$A$ vanishes when one or both layers are insulators, {while the constant $B$
disappears when both layers are insulators or the same ferromagnets.} The first
term in the expression for charge current represents dissipation driven by the
effective electric field induced by the dynamic magnetization. In addition,
from an investigation of the spin current, we obtain the microscopic expression
for the enhanced Gilbert damping constant $\varDelta \alpha$. We show that
$\varDelta\alpha$ is proportional to the tunnel conductance and depends on the
bias voltage.
