In the paper it is suggested that the level of demand for exports and its variability are more important than the variability of the exchange rate for a commodity whose storage costs are not negligible. Evidence in favour of this hypothesis is provided by panel data analysis for the USA exports of wheat for the period 1980–1996.
No takes yet. Share an insight, caveat, or question.
Giorgioni et al. (2002) studied this question.
Synapse has enriched one closely related paper. Consider it for comparative context: