This paper examines robust estimators of core inflation for Belgian historical CPI data, and for euro area Harmonised Indices of Consumer Prices. Evidence of fat tails in the cross-sections of price changes is provided by traditional measures, as well as by a robust measure of the tail weights...

Background: The Consumer Price Index (CPI) is the main indicator for determining the prices level of a certain economy. The above-mentioned rate refers to the average prices on an indicated period and it is calculated mainly on goods consumed basis by selected families through weighting criteria...

This working paper considers the case for the use of the Consumer Price Index as a measure of inflation, and its use in calculating real Gross World Product (GWP). The discussion accords particular attention to the way in which the computation of GWP in CPI-adjusted dollars over time more fully...

Unit root tests and cointegration tests are sensitive to atypical events as outliers and structural breaks. This paper uses outlier robust estimation techniques to reduce the impact of these events on cointegration analysis. As a byproduct of computing the robust estimator, we obtain weights for...