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Real Urban Wage in an Agricultural Economy Without Landless Farmers: Serbia 1862-1910

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  • Mijatović, Boško
  • Milanovic, Branko

Abstract

The paper presents the first estimate of the welfare ratio for Serbia using the 19th and early 20th century data on wages of skilled and unskilled workers (including the part paid in kind) and prices of goods that enter into “subsistence” and “respectability” consumption baskets. It finds a stagnation of unskilled wage close to the welfare ratio of 1, and a modest increase in skilled wage. The paper introduces several adjustments to conventional methodology in order to make it more relevant for predominantly agricultural societies. (Stone Center on Socio-Economic Inequality Working Paper)

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  • Mijatović, Boško & Milanovic, Branko, 2020. "Real Urban Wage in an Agricultural Economy Without Landless Farmers: Serbia 1862-1910," SocArXiv cafw2_v1, Center for Open Science.
    • Handle: RePEc:osf:socarx:cafw2_v1
    DOI: 10.31219/osf.io/cafw2_v1
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