The book "Flexible Exchange Rates for a Stable World Economy" explores the debate on how to manage volatile exchange rates. It looks at the costs and benefits of flexible versus fixed exchange rates and the role of exchange rates in monetary policy. The main finding is that using monetary policy to control exchange rate volatility leads to more volatility in employment, output, and inflation. The book shows through economic models and historical data that allowing greater flexibility in exchange rates can help stabilize domestic economies.