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The determinants of wealth inequality in the Republic of Venice (1400-1800)

Author

Listed:
  • Alfani, Guido

    (Dondena and Igier, Bocconi University; Stone Center for Research on Socio-Economic Inequality, City University of New York; Cage, University of Warwick)

  • Di Tullio, M

    (Università di Pavia)

  • Fochesato, M

    (Dondena, Bocconi University)

Abstract

This article analyses wealth inequality in the territories of the Republic of Venice in mainland Italy during 1400-1800. The availability of a particularly large database of homogeneous local inequality measurements allows us to produce the most in-depth study of the determinants of inequality at the local level available so far for any preindustrial society. First, we explore the ability of economic development, population and the intensity of regressive taxation to explain overall inequality trends in the long run, arguing for a particularly strong impact of regressive taxation. Then, to explain inequality variation between communities, we introduce a full set of geo-morphological variables. Finally we explore the impact of the terrible 1630 plague, which killed 40% of the inhabitants of this area. Although the plague itself had only a limited egalitarian impact (if any), it was able to determine a structural break in the way in which some key variables affected inequality.

Suggested Citation

  • Alfani, Guido & Di Tullio, M & Fochesato, M, 2020. "The determinants of wealth inequality in the Republic of Venice (1400-1800)," CAGE Online Working Paper Series 483, Competitive Advantage in the Global Economy (CAGE).
    • Handle: RePEc:cge:wacage:483
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    File URL: https://warwick.ac.uk/fac/soc/economics/research/centres/cage/manage/publications/wp483.2020.pdf
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    References listed on IDEAS

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    2. Esteban A. Nicolini & Fernando Ramos Palencia, 2016. "Comparing Income and Wealth Inequality in Pre-Industrial Economies: Lessons from 18th-Century Spain," Working Papers 0095, European Historical Economics Society (EHES).
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    12. Guido Alfani & Francesco Ammannati, 2017. "Long‐term trends in economic inequality: the case of the Florentine state, c. 1300–1800," Economic History Review, Economic History Society, vol. 70(4), pages 1072-1102, November.
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    16. Alfani, Guido & Ryckbosch, Wouter, 2016. "Growing apart in early modern Europe? A comparison of inequality trends in Italy and the Low Countries, 1500–1800," Explorations in Economic History, Elsevier, vol. 62(C), pages 143-153.
    17. Guido Alfani, 2017. "The rich in historical perspective: evidence for preindustrial Europe (ca. 1300–1800)," Cliometrica, Springer;Cliometric Society (Association Francaise de Cliométrie), vol. 11(3), pages 321-348, September.
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    Cited by:

    1. Goodhart, C. A. E. & Masciandaro, Donato & Ugolini, Stefano, 2021. "Pandemic recession, helicopter money and central banking: Venice, 1630," LSE Research Online Documents on Economics 108555, London School of Economics and Political Science, LSE Library.
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    3. Guido Alfani, 2022. "Epidemics, Inequality, and Poverty in Preindustrial and Early Industrial Times," Journal of Economic Literature, American Economic Association, vol. 60(1), pages 3-40, March.

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    Keywords

    Economic inequality; wealth concentration; poverty; middle ages; early modern period; plague; Black Death; Italy; Republic of Venice JEL Classification:;
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