The most current estimate for the cost of replacement of all the
damaged capital,which we were able to construct,is NZD 32,875
million (see appendix table for details).However,the replacement
value is not identical to the damage,given the age of the capital
that was destroyed.We assume that the damaged capital was one-
third through its life cycle,so the actual damage was around NZD
21,917 million.We further discount the amount by 75%,as explained above,and use the per capita income in New Zealand in 2011 of NZD 44,739 to obtain a total of 122,470 years lost due to
damaged assets and capital.
Thus, the estimated total number of lifeyears lost because of
the 2011 Christchurch earthquake is180,821 years
The most current estimate for the cost of replacement of all thedamaged capital,which we were able to construct,is NZD 32,875million (see appendix table for details).However,the replacementvalue is not identical to the damage,given the age of the capitalthat was destroyed.We assume that the damaged capital was one-third through its life cycle,so the actual damage was around NZD21,917 million.We further discount the amount by 75%,as explained above,and use the per capita income in New Zealand in 2011 of NZD 44,739 to obtain a total of 122,470 years lost due todamaged assets and capital.Thus, the estimated total number of lifeyears lost because ofthe 2011 Christchurch earthquake is180,821 years
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