Wage-stickiness, monetary changes, and real incomes in late-medieval England and the low countries 1300–1500: Did money matter?

Research in Economic History

ISBN: 978-0-76230-993-1, eISBN: 978-1-84950-194-1

ISSN: 0363-3268

Publication date: 15 January 2003

Abstract

The primary explanation for the marked rise in real wages in both England and Flanders, from the later fourteenth to mid fifteenth centuries, was a combination of institutional wage stickiness and deflation. In both countries, nominal wages had indeed risen after the Black Death (1348), but so had the cost of living, with a rampant inflation that lasted until the late 1370s in England and the late 1380s in Flanders. Thereafter, consumer prices fell sharply but money wages did not - or, in Flanders, not as much as did consumer prices. The other thesis of this paper is that these later medieval price movements were fundamentally monetary in nature.

Citation

Munro, J.H. (2003), "Wage-stickiness, monetary changes, and real incomes in late-medieval England and the low countries 1300–1500: Did money matter?", Research in Economic History (Research in Economic History, Vol. 21), Emerald Group Publishing Limited, Bingley, pp. 185-297. https://doi.org/10.1016/S0363-3268(03)21007-7

Download as .RIS

Publisher

:

Emerald Group Publishing Limited

Copyright © 2003, Emerald Group Publishing Limited

To read the full version of this content please select one of the options below

You may be able to access this content by logging in via Shibboleth, Open Athens or with your Emerald account.
If you think you should have access to this content, click the button to contact our support team.