History
The concept of core inflation as aggregate price growth excluding food and energy was introduced in a 1975 paper by Robert J. Gordon. This is the definition of "core inflation" most used for political purposes. Core inflation was also developed and advocated by Otto Eckstein, in (Eckstein 1981).
Read more about this topic: Core Inflation
Famous quotes containing the word history:
“If man is reduced to being nothing but a character in history, he has no other choice but to subside into the sound and fury of a completely irrational history or to endow history with the form of human reason.”
—Albert Camus (1913–1960)
“Systematic philosophical and practical anti-intellectualism such as we are witnessing appears to be something truly novel in the history of human culture.”
—Johan Huizinga (1872–1945)
“No one can understand Paris and its history who does not understand that its fierceness is the balance and justification of its frivolity. It is called a city of pleasure; but it may also very specially be called a city of pain. The crown of roses is also a crown of thorns. Its people are too prone to hurt others, but quite ready also to hurt themselves. They are martyrs for religion, they are martyrs for irreligion; they are even martyrs for immorality.”
—Gilbert Keith Chesterton (1874–1936)