Using this framework, we can look for the effect of globalization in several ways. First, we can look for influences that are directly controlled for in the model - notably the influence on domestic inflation of changes in import prices. Second, we can look for evidence of globalization-related structural change in the model by examining the stability of the parameter estimates.
John Hurley: Recent economic developments in Ireland and the outlook for the economy Opening statement by Mr John Hurley, Governor of the Central Bank and Financial Services Authority of Ireland, at the presentation of the Annual Report 2006, Dublin, 11 July 2007.