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:
“All history and art are against us, but we still expect happiness in love.”
—Mason Cooley (b. 1927)
“The History of the world is not the theatre of happiness. Periods of happiness are blank pages in it, for they are periods of harmonyperiods when the antithesis is in abeyance.”
—Georg Wilhelm Friedrich Hegel (17701831)
“You treat world history as a mathematician does mathematics, in which nothing but laws and formulas exist, no reality, no good and evil, no time, no yesterday, no tomorrow, nothing but an eternal, shallow, mathematical present.”
—Hermann Hesse (18771962)