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Price Convergence and Wage Divergence in South-Eastern Europe before WWI

In this blog post, Stefan Nikolić of Loughborough University introduces his latest article for the Economic History Review, entitled ‘Spatial inequality in prices and wages within a late-developing economy: Serbia, 1863-1910’. Does price convergence always go hand in hand with wage convergence? Historical data from Serbia suggests not. In the fifty years before the first […]