Or can they be used interchangeably? Similar is there a hierarchy when breaking down your works? I'm trying to write a series of interconnected stories and I want to know for sure. Example: Volume | Book | Chapter
I think there's a kind of archaic way of using "book" that comes up in fantasy novels - sort of like the books of the Bible, where each book is something quite short, but still distinct. So, yes, in that context, I think your volume/book/chapter breakdown makes sense. I'm not sure I've seen the structure used in anything but fantasy, though.