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 a constant in the average American imagination and taste, for which the past must be preserved and celebrated in full-scale authentic copy; a philosophy of immortality as duplication. It dominates the relation with the self, with the past, not infrequently with the present, always with History and, even, with the European tradition.”
—Umberto Eco (b. 1932)
“English history is all about men liking their fathers, and American history is all about men hating their fathers and trying to burn down everything they ever did.”
—Malcolm Bradbury (b. 1932)
“The disadvantage of men not knowing the past is that they do not know the present. History is a hill or high point of vantage, from which alone men see the town in which they live or the age in which they are living.”
—Gilbert Keith Chesterton (1874–1936)