Nominal wage patterns, monopsony, and labour market power in early modern England
Dados Bibliográficos
| ID | 3232255 |
|---|---|
| Autores | Meredith M Paker (0000-0002-9700-5195, Grinnell College), Judy Z Stephenson (0000-0003-4972-4096, University College London, autor correspondente), Paul Wallis (0000-0003-1434-515X, London School of Economics and Political Science) |
| Ano | 2025 |
| Volume | 78 |
| Fascículo | 1 |
| Páginas | 179-206 |
| Data de publicação | 2025-02-01 |
| Peer Reviewed | Sim |
| Open Access | Sim |
| Tipo | ARTICLE |
| Periódico | The Economic History Review (JOURNAL) |
| Identificadores do periódico | ISSN: 0013-0117 • E-ISSN: 1468-0289 |
| Editora | Wiley (PUBLISHER • GB) |
| DOI | 10.1111/ehr.13346 |
| OpenAlex | W4394797394 |
| Idioma | EN |
| Citações recebidas | 5 |
| Referências citadas | 124 |
Records of long-eighteenth-century English wage rates exhibit almost absolute nominal rigidity over many decades, alongside significant dispersion between the wages paid by different organizations for the same type of work in the same location. These features of preindustrial wages have been obscured by data aggregation and the construction of real wage series, which introduce variation. In this paper, we argue that the standard explanations for wage rigidity in economic history are insufficient. We show econometric evidence for monopsony power in one major organization and argue that the main historical wage series are also affected by employer power. Eighteenth-century England had an imperfectly competitive labour market with large frictions. This gave large organizations the power to set wage policies. We discuss the implications for the eighteenth-century British economy and research into long-run wages more generally
Economics · Efficiency wage · Labour economics · Market economy · Market power · Monopsony · Power (physics) · Real wages · Rigidity (electromagnetism) · Wage · Wage dispersion · Culture, Economy, and Development Studies · Economic Theory and Institutions · Historical Economic and Social Studies
A History of Agriculture and Prices in England
Soft Coal, Hard Choices
Gender, Work and Wages in Industrial Revolution Britain
The British Industrial Revolution in Global Perspective
Monopsony in Motion
The Economy of Obligation
Coercion, Contract, and Free Labor in the Nineteenth Century
Wage Differentials, Employer Size, and Unemployment
The Economics of Imperfect Competition
Theoretical Foundations for Sticky Wages
Men at work. Wages and industriousness in southern Sweden 1500–1850
Wage Diversity and Its Theoretical Implications
Notes on the Structure of Wages
Monopsony in Labor Markets
Coins, Currencies, and Credit Instruments. Media of Exchange in Economic and Social History
The lesser shades of labor coercion
Mistaken wages
Job Queues and Layoffs in Labor Markets with Flexible Wages
Wages and Interest as Determined by Marginal Productivity
The Condition of the Working Class in England, 1209–2004
Integration of International Capital Markets
The Evolution of the Gold Standard in England
Pessimism Perpetuated
Work in Progress? The Industrious Revolution
Industrialization and Regional Inequality
The Introduction of Task Work into the Royal Dockyards, 1775
Unreal Wages? Real Income and Economic Growth in England, 1260–1850
The Great Divergence in European Wages and Prices from the Middle Ages to the First World War
The rate of profit in seventeenth-century England
Seven Centuries of Building Wages
British Economic Growth, 1688-1959
Seven Centuries of the Prices of Consumables, Compared with Builders' Wage- Rates
Notes Towards the History of London Wages
Outside Options, Coercion, and Wages
Notes Towards the History of London Wages
Chapters in the History of London Waterside Labour
Regional Wage Variations in Britain 1850-1914
Monopsony Power and Wages
The Economic Crisis of the 1690s in England
Was there an ‘industrious revolution’ before the industrial revolution? An empirical exercise for England, c. 1300-1830
A Note on a Labour Dispute in Early Eighteenth-Century Colchester
Labor Contracts as Partial Gift Exchange
Structural Change and Economic Growth in the British Economy before the Industrial Revolution, 1500-1800
Job Tenure and Unskilled Workers before the Industrial Revolution
Prices in England, 1170-1750
The evolution of wages in early modern Normandy (1600-1850)
Italy and the Little Divergence in Wages and Prices
Wages in Britain during the Industrial Revolution
Population, Money Supply, and the Velocity of Circulation in England, 1300-1700
Custom, Wages and Workload in England during Industrialization
Oligopsony and Monopsonistic Competition in Labor Markets
Reconstruction of money supply over the long run
Labouring Men. Studies in the History of Labour
The long march of history
Real' wages? Contractors, workers, and pay in London building trades, 1650-1800
Spinning the industrial revolution
Respectable standards of living
Work and Wages
An Essex Clothier of the Eighteenth Century
Understanding productivity growth in the industrial revolution
The Standard of Living in the Long Run
Wage Labour in Seventeenth-Century London
Rickman revisited
English Trade Tokens
Do Employers Have More Monopsony Power in Slack Labor Markets
Wage Regulation under the Statute of Artificers
Masters and Journeymen
The Background to the Statute of Artificers
Monopsony in Labor Markets
British Naval Administration in the Age of Walpole
The Determination of Wage Rates in the Early Modern North of England
Working days in a London construction team in the eighteenth century
Skills and human capital in eighteenth-century Spain
Food prices and the standard of living in London in the 'century of revolution', 1580-1700
Customs in Common
An Inquiry into the Nature and Causes of the Wealth of Nations
Capitalist Development, the Labor Process, and the Law
| Obras citantes distintas | 5 |
|---|---|
| Citações por ano | 2,5 |
| Intervalo de citações | 2024 - 2026 (3) |
| Velocidade de citação | current |
| Altamente citado | Não |
| Tipos de citação | Neutras: 4 |