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Determinants of Slave Prices: Louisiana, 1725 to 1820

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Author Info
Ashley N. Coleman (Wachovia Bank, Charlotte, NC)
William K. Hutchinson () (Department of Economics, Vanderbilt University)
Abstract

We utilize a previously untapped data source, Gwendolyn Hall (1999), to examine the market for slaves in Louisiana, both in New Orleans and outside of New Orleans. We are able to study the process of price determination in two separate markets over a period of 95 years for the former and 64 years for the latter. While our findings indicate that both markets valued slave characteristics in a manner that one would expect, we also analyze why particular attributes were valued differently in these two markets. Two shocks to these markets occur in 1808: the Jefferson embargo (December, 1807) and the prohibition of slave imports (January 1, 1808). We analyze how these two shocks differentially affect the value of slave characteristics in these two markets. We find that after the embargo is lifted in 1814, differences in the valuation of slave characteristics between the two regions are greatly diminished.

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File URL: http://www.vanderbilt.edu/Econ/wparchive/workpaper/vu06-w24.pdf
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File Function: First version, 2006
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Publisher Info
Paper provided by Department of Economics, Vanderbilt University in its series Working Papers with number 0624.

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Date of creation: Dec 2006
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Handle: RePEc:van:wpaper:0624

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Related research
Keywords: Slavery; factor prices; market integration;

Find related papers by JEL classification:
N31 - Economic History - - Labor and Consumers, Demography, Education, Income, and Wealth - - - U.S.; Canada: Pre-1913
N91 - Economic History - - Regional and Urban History - - - U.S.; Canada: Pre-1913
F16 - International Economics - - Trade - - - Trade and Labor Market Interactions

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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. Ashley N. Coleman & William K. Hutchinson, 2005. "Trade Restrictions and Factor Prices: Slave Prices in Early Nineteenth Century US," Working Papers 0521, Department of Economics, Vanderbilt University. [Downloadable!]
  2. Douglas A. Irwin, 2001. "The Welfare Cost of Autarky: Evidence from the Jeffersonian Trade Embargo, 1807-1809," NBER Working Papers 8692, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  3. Leamer, Edward E. & Levinsohn, James, 1995. "International trade theory: The evidence," Handbook of International Economics, in: G. M. Grossman & K. Rogoff (ed.), Handbook of International Economics, edition 1, volume 3, chapter 26, pages 1339-1394 Elsevier. [Downloadable!] (restricted)
    Other versions:
  4. Corden, W.M., 1984. "The normative theory of international trade," Handbook of International Economics, in: R. W. Jones & P. B. Kenen (ed.), Handbook of International Economics, edition 1, volume 1, chapter 2, pages 63-130 Elsevier. [Downloadable!] (restricted)
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This page was last updated on 2009-11-28.

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