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:
“There is nothing truer than myth: history, in its attempt to “realize” myth, distorts it, stops halfway; when history claims to have “succeeded” this is nothing but humbug and mystification. Everything we dream is “realizable.” Reality does not have to be: it is simply what it is.”
—Eugène Ionesco (b. 1912)
“The history of our era is the nauseating and repulsive history of the crucifixion of the procreative body for the glorification of the spirit.”
—D.H. (David Herbert)
“the future is simply nothing at all. Nothing has happened to the present by becoming past except that fresh slices of existence have been added to the total history of the world. The past is thus as real as the present.”
—Charlie Dunbar Broad (1887–1971)