摘要：A modified gravity-type model was employed to evaluate the effect of exchange rate volatility on wheat exports worldwide. Special attention was given to the econometric properties of the gravity model within a panel framework. Short and long-term measures of exchange rate volatility were constructed and compared. Both measures of exchange rate volatility exhibited negative effects on world wheat trade, with even greater effects in the long-term measure. This result implies that exchange rate volatility is an important factor in explaining the trade pattern of wheat worldwide.
