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In this paper, we use a revised, expanded, and updated version of a global model first developed by Wittwer et al. (2003) to project the wine markets of its 44 countries plus seven residual country groups to 2018. Because real exchange rate (RER) changes have played a key role in the fortunes of wine market participants in some countries in recent years, we use the model to analyze their impact, first retrospectively during 2007-11 and then prospectively during the period to 2018 under twodoi:10.1017/jwe.2013.31 fatcat:ljyvx65blvfj5ppiuwaev547qm