Core Inflation - History

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:

    ... in America ... children are instructed in the virtues of the system they live under, as though history had achieved a happy ending in American civics.
    Mary McCarthy (1912–1989)

    Well, for us, in history where goodness is a rare pearl, he who was good almost takes precedence over he who was great.
    Victor Hugo (1802–1885)

    In the history of the human mind, these glowing and ruddy fables precede the noonday thoughts of men, as Aurora the sun’s rays. The matutine intellect of the poet, keeping in advance of the glare of philosophy, always dwells in this auroral atmosphere.
    Henry David Thoreau (1817–1862)