Exchange-rate volatility, exchange-rate regime, and trade volume: evidence from the UK–US export function (1889–1999)

This paper investigated the impact of exchange-rate volatility and exchange-rate regime on the British exports to the United States using data for the period 1889–1999. The empirical findings suggest that neither exchange-rate volatility nor the different exchange-rate regimes that spanned the last century had an effect on export volume.