IDEAS home Printed from
   My bibliography  Save this paper

The macroeconomic impacts of a foot-and-mouth disease outbreak: an information paper for Department of the Prime Minister and Cabinet


  • Melleny Black

    (New Zealand Treasury)

  • Áron Gereben

    (Reserve Bank of New Zealand)

  • Ian Woolford

    (Reserve Bank of New Zealand)


This memorandum provides a scenario analysis of the likely macroeconomic impacts of a limited foot-and-mouth disease (FMD) outbreak in New Zealand. It is worth stressing at the outset that it is not a forecast, nor a ‘central’ scenario, but an exercise to gauge broad magnitudes and to trace through the likely shocks to several key macro variables based on a set of plausible events.

Suggested Citation

  • Melleny Black & Áron Gereben & Ian Woolford, 2004. "The macroeconomic impacts of a foot-and-mouth disease outbreak: an information paper for Department of the Prime Minister and Cabinet," Others 0411006, EconWPA.
  • Handle: RePEc:wpa:wuwpot:0411006
    Note: Type of Document - pdf; pages: 8

    Download full text from publisher

    File URL:
    Download Restriction: no

    References listed on IDEAS

    1. Becker, Gary S, 1974. "A Theory of Social Interactions," Journal of Political Economy, University of Chicago Press, vol. 82(6), pages 1063-1093, Nov.-Dec..
    2. Poulsen, Anders & Svendsen, Gert Tinggaard, 2003. "Rise and Decline of Social Capital," Working Papers 03-10, University of Aarhus, Aarhus School of Business, Department of Economics.
    3. Sjoerd Beugelsdijk & Sjak Smulders, 2003. "Bridging and Bonding Social Capital: which type is good for economic growth?," ERSA conference papers ersa03p517, European Regional Science Association.
    4. Samuel Bowles & Herbert Gintis, 2002. "Social Capital and Community Governance," Economic Journal, Royal Economic Society, vol. 112(483), pages 419-436, November.
    5. repec:cup:apsrev:v:82:y:1988:i:04:p:1203-1230_19 is not listed on IDEAS
    6. Townsend, Robert M, 1994. "Risk and Insurance in Village India," Econometrica, Econometric Society, vol. 62(3), pages 539-591, May.
    7. La Porta, Rafael, et al, 1997. "Trust in Large Organizations," American Economic Review, American Economic Association, vol. 87(2), pages 333-338, May.
    8. repec:elg:eechap:2434_8 is not listed on IDEAS
    9. Annen, Kurt, 2003. "Social capital, inclusive networks, and economic performance," Journal of Economic Behavior & Organization, Elsevier, vol. 50(4), pages 449-463, April.
    10. Fali Huang, 2003. "Social Trust, Cooperation, and Human Capital," Working Papers 01-2004, Singapore Management University, School of Economics, revised Jan 2004.
    11. Luigi Guiso & Paola Sapienza & Luigi Zingales, 2004. "The Role of Social Capital in Financial Development," American Economic Review, American Economic Association, vol. 94(3), pages 526-556, June.
    12. repec:hrv:faseco:30726298 is not listed on IDEAS
    13. Boix, Carles & Posner, Daniel N., 1998. "Social Capital: Explaining Its Origins and Effects on Government Performance," British Journal of Political Science, Cambridge University Press, vol. 28(04), pages 686-693, October.
    14. Uphoff, Norman, 1993. "Grassroots organizations and NGOs in rural development: Opportunities with diminishing states and expanding markets," World Development, Elsevier, vol. 21(4), pages 607-622, April.
    15. Juan-Camilo Cardenas, 2002. "Rethinking local commons dilemmas: Lessons from experimental economics in the field," Artefactual Field Experiments 00020, The Field Experiments Website.
    16. Solow, Robert M., 1979. "Another possible source of wage stickiness," Journal of Macroeconomics, Elsevier, vol. 1(1), pages 79-82.
    17. Corneo, Giacomo & Jeanne, Olivier, 1999. "Social Organization in an Endogenous Growth Model," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 40(3), pages 711-725, August.
    18. Fafchamps, Marcel, 1992. "Solidarity Networks in Preindustrial Societies: Rational Peasants with a Moral Economy," Economic Development and Cultural Change, University of Chicago Press, vol. 41(1), pages 147-174, October.
    19. Carole Uhlaner, 1989. "“Relational goods” and participation: Incorporating sociability into a theory of rational action," Public Choice, Springer, vol. 62(3), pages 253-285, September.
    20. repec:cup:apsrev:v:90:y:1996:i:02:p:389-397_20 is not listed on IDEAS
    21. Angelo Antoci & Pier Luigi Sacco & Paolo Vanin, 2001. "Economic Growth and Social Poverty: The Evolution of Social Participation," Bonn Econ Discussion Papers bgse13_2001, University of Bonn, Germany.
    22. Gaute Torsvik, 2000. "Social Capital And Economic Development," Rationality and Society, , vol. 12(4), pages 451-476, November.
    23. Prescott, Edward C & Visscher, Michael, 1980. "Organization Capital," Journal of Political Economy, University of Chicago Press, vol. 88(3), pages 446-461, June.
    24. Coate, Stephen & Ravallion, Martin, 1993. "Reciprocity without commitment : Characterization and performance of informal insurance arrangements," Journal of Development Economics, Elsevier, vol. 40(1), pages 1-24, February.
    25. Ruth Meinzen-Dick & Richard Reidinger & Andrew Manzardo, 1995. "Participation in the Irrigation Sector," World Bank Other Operational Studies 11661, The World Bank.
    26. Gunnar L.H Svendsen & Gert T. Svendsen, 2004. "The Creation and Destruction of Social Capital," Books, Edward Elgar Publishing, number 3276.
    27. Kenney, Martin & Patton, Donald, 2003. "Innovation and Social Capital in Silicon Valley," UCAIS Berkeley Roundtable on the International Economy, Working Paper Series qt25w6w54t, UCAIS Berkeley Roundtable on the International Economy, UC Berkeley.
    28. Woolcock, Michael & Narayan, Deepa, 2000. "Social Capital: Implications for Development Theory, Research, and Policy," World Bank Research Observer, World Bank Group, vol. 15(2), pages 225-249, August.
    29. Gary S. Becker, 1975. "Human Capital: A Theoretical and Empirical Analysis, with Special Reference to Education, Second Edition," NBER Books, National Bureau of Economic Research, Inc, number beck75-1, January.
    30. Akerlof,George A. & Yellen,Janet L. (ed.), 1987. "Efficiency Wage Models of the Labor Market," Cambridge Books, Cambridge University Press, number 9780521312844, March.
    Full references (including those not matched with items on IDEAS)

    More about this item


    foot-and-mouth disease; simulation;

    JEL classification:

    • P - Economic Systems
    • Q - Agricultural and Natural Resource Economics; Environmental and Ecological Economics
    • Z - Other Special Topics

    NEP fields

    This paper has been announced in the following NEP Reports:


    Access and download statistics


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wpa:wuwpot:0411006. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (EconWPA). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.