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

Release date
03/06/2013
Reference
AN2013/02
Authors
Güneş Kamber; Chris McDonald; Gael Price
ISSN
2230‐5505
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.