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 no history of how bad became better.”
—Henry David Thoreau (1817–1862)
“You that would judge me do not judge alone
This book or that, come to this hallowed place
Where my friends’ portraits hang and look thereon;
Ireland’s history in their lineaments trace;
Think where man’s glory most begins and ends
And say my glory was I had such friends.”
—William Butler Yeats (1865–1939)
“I assure you that in our next class we will concern ourselves solely with the history of Egypt, and not with the more lurid and non-curricular subject of living mummies.”
—Griffin Jay, and Reginald LeBorg. Prof. Norman (Frank Reicher)