Bilateral exports from euro zone countries to the US - Does exchange rate variability play a role?

► This paper investigates the role of exchange rate volatility for exports. ► The investigation is carried out for eleven EMU countries. ► The influence of exchange rate volatility is typically negative when significant. ► The magnitude of the elasticity of exchange rate volatility is rather small. ► There seems to be heterogeneity in EMU with respect to exchange rate volatility.