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Drying out: Investigating the economic effects of drought in New Zealand

Güneş Kamber, Chris McDonald, Gael Price

Published date:
ISSN/ISBN:
2230‐5505
Reference:
AN2013/02
In early 2013 New Zealand suffered its worst drought in decades. Using several new aggregate climate indicators and a newly-developed model, we estimate the economic impact of the drought. Annual real GDP in 2013 could be around 0.6 per cent lower than it would otherwise have been.