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:

    It would be naive to think that peace and justice can be achieved easily. No set of rules or study of history will automatically resolve the problems.... However, with faith and perseverance,... complex problems in the past have been resolved in our search for justice and peace. They can be resolved in the future, provided, of course, that we can think of five new ways to measure the height of a tall building by using a barometer.
    Jimmy Carter (James Earl Carter, Jr.)

    The reverence for the Scriptures is an element of civilization, for thus has the history of the world been preserved, and is preserved.
    Ralph Waldo Emerson (1803–1882)

    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)