3  There has also been debate regarding other potential channels through which global factors could affect domestic inflation – for example, whether measures of foreign resource utilization play an important independent role.
For evidence supporting such global factors, see Claudio Borio and Andrew Filardo (2007), “Globalisation and Inflation: New Cross-Country Evidence on the Global Determinants of Domestic Inflation (PDF),” BIS Working Papers 227 (Basel, Switzerland: Bank for International Settlements, May).