An Empirical Study of Mortality Models in Taiwan
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Hong-Chih Huang
There has been a significant increase in the life expectancies of the Taiwanese population after the end of Second World War. Like in many developed countries, due to the prolonging life expectancy and lower fertility rates, the aging population has now become a major policy concern in Taiwan. The search for feasible methods for modeling the future mortality changes has become a popular issue in Taiwan. The Lee-Carter (LC) model, the reduction factor (RF) model and the age-period-cohort (APC) model are three frequently used methods for modeling future mortality dynamics. In this paper, we introduce these three models and discuss their respective pros and cons. We carry out an empirical study using these models based on Taiwan mortality experience. In addition, we make a comparison analysis of different models with different mortality experience in Japan, England and Wales, and the US.
©2011 Walter de Gruyter GmbH & Co. KG, Berlin/Boston
Artikel in diesem Heft
- Featured Article
- Longevity Risk and Capital Markets: The 2007-2008 Update
- The Birth of the Life Market
- Mortality Declines, Longevity Risk and Aging
- Financial Innovation and the Hedging of Longevity Risk
- Hedging Pension Longevity Risk: Practical Capital Markets Solutions
- Assessing Investment and Longevity Risks within Immediate Annuities
- Optimal Retirement Asset Decumulation Strategies: The Impact of Housing Wealth
- An Empirical Study of Mortality Models in Taiwan
- Pricing and Implementation of Longevity Bonds in Taiwan
- The Volatility of Mortality
Artikel in diesem Heft
- Featured Article
- Longevity Risk and Capital Markets: The 2007-2008 Update
- The Birth of the Life Market
- Mortality Declines, Longevity Risk and Aging
- Financial Innovation and the Hedging of Longevity Risk
- Hedging Pension Longevity Risk: Practical Capital Markets Solutions
- Assessing Investment and Longevity Risks within Immediate Annuities
- Optimal Retirement Asset Decumulation Strategies: The Impact of Housing Wealth
- An Empirical Study of Mortality Models in Taiwan
- Pricing and Implementation of Longevity Bonds in Taiwan
- The Volatility of Mortality
