This important new book builds upon the seminal work by Obsfeld and Rogoff, Foundations of International Macroeconomicsand aims at providing a coherent and modern framework for thinking about exchange rate dynamics. With a wide range of contributions, this book is likely to be welcomed by the macroeconomics and financial community.Part 1: Exchange Rate Volatility and Persistence Part 2: Exchange Rate Regimes and Monetary Policy Jean-Olivier Hairaultis Professor of Economics at the University of Paris 1, Panth?on-Sorbonne, France. Thepthida Sopraseuthis Assistant Professor at the University of ?vry Val d'Essonne, France.