Pourzand, Farnaz; Noy, Ilan; Saglam, Yigit - 2019
We quantify the impacts of droughts in New Zealand on the profitability of dairy, and sheep and beef farms. Using a … comprehensive administrative database of all businesses in New Zealand, we investigate the impact of droughts on farm revenue … attributable to drought-induced increases in the price of milk solids (New Zealand is the market maker in this global market). In …