"The Costs and Benefits of Going from Low Inflation to Price Stability," in Christina D. Romer and David H. Romer, eds., Reducing Inflation: Motivation and Strategy. Chicago: University of Chicago Press, pp. 123-66. BIS Review 21/2008  7  Fischer, Stanley (1993). "The Role of Macroeconomic Factors in Growth", Journal of Monetary Economics, vol. 32 (December), pp. 485-512. Friedman, Milton (1968).
The elimination of national currencies also limits the scope for financial shocks to drive macroeconomic outcomes, even if country-specific financial speculation is still possible through sovereign bond and bank funding markets.