Volume 32, Issue 3, December 1993, Pages 485–512 Khan, Mohsin S., and Abdelhak S. Senhadji. 2000. “Threshold Effects in the Relationship Between Inflation and Growth,” IMF Working Paper 00/110 (Washington: International Monetary Fund). BIS central bankers’ speeches  7
This monetary expansion could generate domestic inflation unless it is sterilized with other open market sales of securities - and the mere scale of present and expected future debt stocks may make continued sterilization impossible. But if these central banks continue behaving this way, the so-called credibility range could be extended significantly.