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An Estimate Of Average Income And Inequality In Byzantium Around Year 1000

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Author Info
Branko Milanovic (World Bank; Carnegie Endowment)

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Abstract

Using recent economic statistics from the peak period of Byzantine political and economic influence, we estimate the average income around the year 1000 to have been about 6 nomismata per capita per annum. This is then translated into current prices using two independent methods. They both yield an estimate around $PPP 640-720 in 1990 international prices. It is argued that this amount is some 20 percent below an average estimate of Roman incomes at the time of Augustus (around year one). Assuming that most of income differences in Byzantium were due to the differences in average incomes between social classes, we estimate the Gini coefficient to have been in the range between 40 and 45.

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Paper provided by EconWPA in its series Economic History with number 0501003.

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Length: 37 pages
Date of creation: 12 Jan 2005
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Handle: RePEc:wpa:wuwpeh:0501003

Note: Type of Document - pdf; pages: 37
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Web page: http://129.3.20.41

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Find related papers by JEL classification:
N30 - Economic History - - Labor and Consumers, Demography, Education, Income, and Wealth - - - General, International, or Comparative
N33 - Economic History - - Labor and Consumers, Demography, Education, Income, and Wealth - - - Europe: Pre-1913

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Chenny, Shirley & St-Amour, Pascal & Vencatachellum, Desire, 2003. "Slave prices from succession and bankruptcy sales in Mauritius, 1825-1827," Explorations in Economic History, Elsevier, vol. 40(4), pages 419-442, October. [Downloadable!] (restricted)
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  2. Robert C. Allen, 2003. "Progress and poverty in early modern Europe," Economic History Review, Economic History Society, vol. 56(3), pages 403-443, 08. [Downloadable!] (restricted)
  3. Goldsmith, Raymond W, 1984. "An Estimate of the Size and Structure of the National Product of the Early Roman Empire," Review of Income and Wealth, Blackwell Publishing, vol. 30(3), pages 263-88, September.
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  1. Branko Milanovic & Peter H. Lindert & Jeffrey G. Williamson, 2007. "Measuring Ancient Inequality," NBER Working Papers 13550, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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