nevertheless the possibility of large scale animal disease outbreaks such as foot and mouth fmd and bse diseases are viewed by the ministry of agriculture and forestry of new zealand among risks with the largest potential production and revenue loss a study on the macroeconomic impacts of an fmd outbreak estimated possible damage at up to nzd billion in the first year and nzd billion after two years from losses in export volumes and price and exchange rate shocks this study by the reserve bank of new zealand and treasury underscores the fact that possible disease outbreaks are perceived as a threat with serious macroeconomic implications rb