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:
“Psychology keeps trying to vindicate human nature. History keeps undermining the effort.”
—Mason Cooley (b. 1927)
“The history of persecution is a history of endeavors to cheat nature, to make water run up hill, to twist a rope of sand.”
—Ralph Waldo Emerson (1803–1882)
“A poet’s object is not to tell what actually happened but what could or would happen either probably or inevitably.... For this reason poetry is something more scientific and serious than history, because poetry tends to give general truths while history gives particular facts.”
—Aristotle (384–323 B.C.)