Documents relating to New-England Federalism: 1800-1815 - John Quincy Adams. The Real Lincoln: A New Look at Abraham Lincoln, His Agenda, and an ... - Thomas J. DiLorenzo. 4 Currents: International Trade Law Journal 1995 U.S. Trade Embargo against Cuba: The Time Has Come to End This Cold-War Relic, The Note. The Welfare Cost of Autarky: Evidence from the Jeffersonian Trade Embargo, 1807-1809.
NBER Working Paper No. 8692Issued in December 2001NBER Program(s): DAE ITI The United States came close to complete autarky in 1808 as a result of a self-imposed embargo on international shipping from December 1807 to March 1809.
Monthly prices of exported and imported goods reveal the embargo's striking effect on commodity markets and allow a calculation of its welfare effects. A simple general equilibrium calculation suggests that the embargo cost about 8 percent of America's 1807 GNP, at a time when the trade share was about 13 percent (domestic exports and shipping earnings). The welfare cost was lower than the trade share because the embargo did not completely eliminate trade and because domestic producers successfully shifted production toward previously imported manufactured goods.
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It is argued that England during the French Wars provides an ideal testing ground. Four categories of explanatory variables are taken as likely sources of documented changes in English commodity price disintegration during this period: weather, trade, policy and wartime events. Embargo-act. Jefferson's Second Revolution: The Election Crisis of 1800 and the Triumph ... - Susan Dunn. The constitutional history of the Louisiana Purchase, 1803-1812 - Everett Somerville Brown. History of the Hartford Convention: with a review of the policy of the ... - Theodore Dwight.