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:

    One classic American landscape haunts all of American literature. It is a picture of Eden, perceived at the instant of history when corruption has just begun to set in. The serpent has shown his scaly head in the undergrowth. The apple gleams on the tree. The old drama of the Fall is ready to start all over again.
    Jonathan Raban (b. 1942)

    The greatest honor history can bestow is that of peacemaker.
    Richard M. Nixon (1913–1995)

    No cause is left but the most ancient of all, the one, in fact, that from the beginning of our history has determined the very existence of politics, the cause of freedom versus tyranny.
    Hannah Arendt (1906–1975)