Anticipating Economic Impacts of the 2012 Drought
AbstractAll of Iowaâ€™s counties were considered to be in severe drought, and a third were suffering exceptional drought conditions by August 1st, 2012. �It is logical to ask, therefore, how Iowaâ€™s overall economy will be affected by the current situation. �Economists caution against attempting to project economic impacts while in the midst of a disaster.��It often takes months if not years to fully understand the magnitude of damages, losses, and the public's costs.� Accordingly, while this drought is on-going, it is only possible to infer the kinds of economic damages to be expected, but not the magnitude of those losses in economic terms. �This report looks at the direct, indirect and other effects that the current drought will have on Iowa's agricultural economy, general commerce, governments, and households.
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Bibliographic InfoPaper provided by Iowa State University, Department of Economics in its series Staff General Research Papers with number 35292.
Date of creation: 08 Aug 2012
Date of revision:
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Postal: Iowa State University, Dept. of Economics, 260 Heady Hall, Ames, IA 50011-1070
Phone: +1 515.294.6741
Fax: +1 515.294.0221
Web page: http://www.econ.iastate.edu
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economic impact; drought;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-08-23 (All new papers)
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