  In this paper, we study the geodesic flow of a right-invariant metric induced
by a general Fourier multiplier on the diffeomorphism group of the circle and
on some of its homogeneous spaces. This study covers in particular
right-invariant metrics induced by Sobolev norms of fractional order. We show
that, under a certain condition on the symbol of the inertia operator (which is
satisfied for the fractional Sobolev norm $H^{s}$ for $s \ge 1/2$), the
corresponding initial value problem is well-posed in the smooth category and
that the Riemannian exponential map is a smooth local diffeomorphism.
Paradigmatic examples of our general setting cover, besides all traditional
Euler equations induced by a local inertia operator, the Constantin-Lax-Majda
equation, and the Euler-Weil-Petersson equation.
