British Economic Growth, 1270-1870: an output-based approach

TY - UNPB

T1 - British Economic Growth, 1270-1870: an output-based approach

AU - Broadberry, Stephen

AU - Campbell, Bruce

AU - Klein, Alexander

AU - Overton, Mark

AU - van Leeuwen, Bas

PY - 2011

Y1 - 2011

N2 - This paper reconstructs GDP from the output side for medieval and early modern Britain. In contrast to the long run stagnation of living standards suggested by daily real wage rates, output- based GDP per capita exhibits modest but positive trend growth. One way of reconciling the two series is through variation in the annual number of days worked, but there are also reasons to doubt the representativeness of the sharp rise and fall of daily real wage rates in the late middle ages, which creates the impression of no trend improvement of living standards.

AB - This paper reconstructs GDP from the output side for medieval and early modern Britain. In contrast to the long run stagnation of living standards suggested by daily real wage rates, output- based GDP per capita exhibits modest but positive trend growth. One way of reconciling the two series is through variation in the annual number of days worked, but there are also reasons to doubt the representativeness of the sharp rise and fall of daily real wage rates in the late middle ages, which creates the impression of no trend improvement of living standards.

M3 - Working paper/Discussion paper

T3 - University of Kent School of Economics Discussion Papers

BT - British Economic Growth, 1270-1870: an output-based approach

ER -