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War and Welfare: Britain, France and the United States 1807-14

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  • Kevin H. O'Rourke

    ()
    (Department of Economics, Trinity College)

Abstract

This paper assesses the relative welfare costs of the various embargos and blockades of the years 1807-1814 in three countries: Britain, France and the United States. Relative price evidence indicates that these blockades and embargos did restrict trade, and that britain was less severely affected than her rivals. Benchmark welfare estimates for the United States are particularly high, at roughly 5% per annum. While absolute welfare estimates depend on elasticity assumptions, the US unambiguously came out worst in these disputes, and Britain almost surely suffered lower losses than France as well.

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File URL: http://www.tcd.ie/Economics/TEP/2006_papers/TEP4.pdf
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Bibliographic Info

Paper provided by Trinity College Dublin, Department of Economics in its series Trinity Economics Papers with number tep2008.

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Length: 31 pages
Date of creation: Feb 2006
Date of revision:
Handle: RePEc:tcd:tcduee:tep2008

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Postal: Trinity College, Dublin 2
Phone: (+ 353 1) 6081325
Fax: 6772503
Web page: http://www.tcd.ie/Economics/
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  1. Kevin O'Rourke, 2005. "The worldwide economic impact of the Revolutionary and Napoleonic Wars," Trinity Economics Papers tep9, Trinity College Dublin, Department of Economics.
  2. O Rourke, Kevin H, 2006. "The worldwide economic impact of the French Revolutionary and Napoleonic Wars, 1793 1815," Journal of Global History, Cambridge University Press, vol. 1(01), pages 123-149, March.
  3. Gary Clyde Hufbauer & Jeffrey J. Schott & Kimberly Ann Elliott, 1990. "Economic Sanctions Reconsidered: 2nd Edition," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 82.
  4. Anderson, James E & Neary, J Peter, 1996. "A New Approach to Evaluating Trade Policy," Review of Economic Studies, Wiley Blackwell, vol. 63(1), pages 107-25, January.
  5. David H. Romer & Jeffrey A. Frankel, 1999. "Does Trade Cause Growth?," American Economic Review, American Economic Association, vol. 89(3), pages 379-399, June.
  6. K. H. O'Rourke & J. G. Williamson, 2001. "After Columbus: Explaining the Global Trade Boom 1500-1800," CEG Working Papers 20014, Trinity College Dublin, Department of Economics.
  7. Maxim Engers & Jonathan Eaton, 1999. "Sanctions: Some Simple Analytics," American Economic Review, American Economic Association, vol. 89(2), pages 409-414, May.
  8. Hueckel, Glenn, 1973. "War and the British economy, 1793-1815 a general equilibrium analysis," Explorations in Economic History, Elsevier, vol. 10(4), pages 365-396.
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Cited by:
  1. David S. Jacks, Kevin H. O'Rourke and Jeffrey G. Williamson, 2009. "Commodity Price Volatility and World Market Integration since 1700," The Institute for International Integration Studies Discussion Paper Series iiisdp284, IIIS.
  2. Karol Jan Borowiecki, 2010. "Are Composers Different? Historical Evidence on Conflict-induced Migration (1816-1997)," The Institute for International Integration Studies Discussion Paper Series iiisdp342, IIIS.
  3. Robert E. Lipsey, 2006. "Measuring International Trade in Services," NBER Working Papers 12271, National Bureau of Economic Research, Inc.
  4. Jacks, David S., 2011. "Foreign wars, domestic markets: England, 1793–1815," European Review of Economic History, Cambridge University Press, vol. 15(02), pages 277-311, August.
  5. Karol Jan BOROWIECKI, 2011. "Conflict-induced Migration of Composers: An Individual-level Study," Trinity Economics Papers tep0511, Trinity College Dublin, Department of Economics.

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