It is definitely the most classical text book for PH.D students in international economics. Lots of papers in New open macroeconomics published after 2000 have used the framework build in this paper. But so far i never saw the new version of this books, so I doubt that there is new 2002 edition as somebody said.
Here are some details about the book:
The chapters
1 Intertemporal Trade and the Current Account Balance
2 Dynamics of Small Open Economies
3 The Life Cycle, Tax Policy, and the Current Account
4 The Real Exchange Rate and the Terms of Trade
5 Uncertainty and international Financial Markets
6 Imperfections in international Capital Markets
7 Global Linkages and Economic Growth
8 Money and Exchange Rates under Flexible Prices
9 Nominal Price Rigidities: Empirical Facts and Basic Open-Economy Models
10 Sticky-Price Models of Output, the Exchange Rate, and the Current Account