Wages and Prices in England, 1261-1701

Determinants of general practitioners' wages in England.

We analyse the determinants of annual net income and wages (net income/hours) of general practitioners (GPs) using data for 2271 GPs in England recorded during Autumn 2008. The average GP had an annual net income of £97,500 and worked 43 h per week. The mean wage was £51 per h. Net income and wages depended on gender, experience, list size, partnership size, whether or not the GP worked in a di...

Real wages and the family: Adjusting real wages to changing demography in pre-modern England

This paper uses demographic data drawn from Wrigley et al.’s (1997) family reconstitutions of 26 English parishes to adjust Allen’s (2001) real wages to the changing demography of early modern England. Using parity progression ratios (a fertility measure) and age specific mortality for children and parents, model families are predicted in two reference periods 1650-1700 and 1750-1800. These mod...

Macroeconomic Stability: The Role of Wages and Prices

OASDHI Benefits, Prices, and Wages: Effect of 1967 Benefit Increase

IN MARCH 1968, approximately 24 million Americans were receiving monthly cash benefits under the old-age, survivors, disability, and health insurance (OASDHI) program. Their monthly benefits were 13 percent or more higher than those paid to beneficiaries through January 1968, with the gains resulting from the across-the-board increase provided by t,he 1967 amendments to the Social Security Act....

Earnings Functions When Wages and Prices Vary by Location

Economists generally assume, implicitly, that “the return to schooling” is invariant across local labor markets. We demonstrate that this outcome pertains if and only if preferences are homothetic—a special case that seems unlikely. Our theory predicts that returns to education will instead be relatively low in expensive high-amenity locations. Our analysis of U.S. data provides support for thi...