Anticipating Economic Impacts of the 2012 Drought
All 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.
|Date of creation:||08 Aug 2012|
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