Pourzand, Farnaz; Noy, Ilan; Sağlam, Yiğit - 2019
We quantify the impacts of droughts in New Zealand on the profitability of dairy, and sheep and beef farms. Using a … current (same fiscal year) drought events have positive impacts on dairy farms' revenue and profit; this effect is most likely … attributable to drought-induced increases in the price of milk solids (New Zealand is the market maker in this global market). In …