The low energy field theory for N type IIA D4-branes at strong 't Hooft
coupling, wrapped on a circle with antiperiodic boundary conditions for
fermions, is known to have a vacuum energy which depends on the θ angle
for the gauge fields, and which is a multivalued function of this angle. This
gives a field-theoretic realization of "axion monodromy" for a nondynamical
axion. We construct the supergravity solution dual to the field theory in the
metastable state which is the adiabatic continuation of the vacuum to large
values of θ. We compute the energy of this state and show that it
initially rises quadratically and then flattens out. We show that the glueball
mass decreases with θ, becoming much lower than the 5d KK scale
governing the UV completion of this model. We construct two different classes
of domain walls interpolating between adjacent vacua. We identify a number of
instability modes -- nucleation of domain walls, bulk Casimir forces, and
condensation of tachyonic winding modes in the bulk -- which indicate that the
metastable branch eventually becomes unstable. Finally, we discuss two
phenomena which can arise when the axion is dynamical; axion-driven inflation,
and axion strings.Comment: 43 pages, 10 figures. v2: references update