Inequality in Pre-Industrial Europe (1260-1850): New Evidence from the Labour Share

Giovanni Federico, Alessandro Nuvolari and Michelangelo Vasta

No 20200051, Working Papers from New York University Abu Dhabi, Department of Social Science

Abstract: The dynamics of economic inequality and its relation with economic growth in the preindustrial world is increasingly attracting the attention of both economic historians and economists. This paper introduces new estimates of the labour share in five major European countries (England, France, Holland, Spain and Portugal) for the period 1250-1850 constructed using an innovative method based on the conversion of real wages in 2011 PPP US$. We find a complex pattern of evolution of the labour share with major fluctuations. We also establish a negative correlation between variations of GDP and variations in the labour share. JEL Codes:N33, N01

Pages: 45 pages
Date: 2020-07, Revised 2020-07
New Economics Papers: this item is included in nep-gro and nep-his
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https://nyuad.nyu.edu/content/dam/nyuad/academics/ ... papers/2020/0051.pdf First version, 2020 (application/pdf)

Related works:
Journal Article: Inequality in Pre‐Industrial Europe (1260–1850): New Evidence From the Labor Share (2023)
Working Paper: Inequality in pre-industrial Europe (1260-1850): new evidence from the labour share (2020)
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Persistent link: https://EconPapers.repec.org/RePEc:nad:wpaper:20200051

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