Top Income Concentration in Early Modern Spain, 1574-1799

Carlos Álvarez Nogal and Leandro Prados de la Escosura

IFCS - Working Papers in Economic History.WH from Universidad Carlos III de Madrid. Instituto Figuerola

Abstract: Contemporary perspectives highlight significant inequality in early modern Spain.Quantitative measures of inequality are often either broad and rough or based on local orscattered estimates, which do not offer a precise overall picture over time. The sale of theBull of the Crusade provides an opportunity to examine inequality trends consistently inearly modern Spain. The Bull of the Crusade was a form of almsgiving granted by the Popeand collected by the Hispanic Monarchy, widely purchased by a population convinced of itsspiritual benefits. There were two types of bulls: the standard 2 Reales bull for ordinarypeople and the 8 Reales bull for the wealthy and individuals of high social standing. Weargue that the ratio of the 8 Reales to the 2 Reales bulls sold reflects concentration at theupper end of the distribution. Three main phases emerge: fluctuations around a flat trendfrom 1570-1630, a sustained decline in the following century, and a notable upward trendthereafter, reaching its peak in the late eighteenth century. A closer study reveals distinctpatterns within the Crown of Castile and the Crown of Aragon that converged in the lateeighteenth century.

Keywords: Top; income; concentration; Inequality; Early; modern; Spain (search for similar items in EconPapers)
JEL-codes: N33 O15 Z12 (search for similar items in EconPapers)
Date: 2025-11-25
New Economics Papers: this item is included in nep-fdg, nep-his and nep-inv
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Working Paper: Top Income Concentration in Early Modern Spain, 1574-1799 (2025)
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