Modeling the Regional Economic Impacts of the 2007/08 Drought: Results and Lessons

G.v Butcher and Stuart Ford

No 97167, 2009 Conference, August 27-28, 2009, Nelson, New Zealand from New Zealand Agricultural and Resource Economics Society

Abstract: The 2007-08 drought affected a large area of New Zealand. This paper describes the analytical framework used to estimate the associated regional and national economic impacts. Results suggest that calculating drought economic impacts by applying standard farming industry multipliers to changes in farm gate output can greatly overstate both regional and national economic impacts. Calculating impacts using differences between forecast and actual farm production and expenditure by farm type is both feasible and produces far more reliable impact estimates.

Keywords: Agricultural and Food Policy; Crop Production/Industries; Environmental Economics and Policy; Farm Management; Land Economics/Use (search for similar items in EconPapers)
Pages: 11
Date: 2009-08
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Persistent link: https://EconPapers.repec.org/RePEc:ags:nzar09:97167

DOI: 10.22004/ag.econ.97167

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