Modelling Socio-Economic Differences in Mortality Using a New Affluence Index

Andrew John George Cairns, Malene Kallestrup, Carsten Rosenskjold, David Blake, Kevin Dowd

Research output: Contribution to journalArticlepeer-review

9 Citations (Scopus)
16 Downloads (Pure)

Abstract

We introduce a new modelling framework to explain socio-economic differences in
mortality in terms of an affluence index that combines information on individual
wealth and income. The model is illustrated using data on older Danish males over
the period 1985-2012 reported in the Statistics Denmark national register database. The model fits the historical mortality data well, captures their key features, generates smoothed death rates that allow us to work with a larger number of sub-groups than has previously been considered feasible, and has plausible projection properties.
Original languageEnglish
Pages (from-to)555-590
Number of pages36
JournalASTIN Bulletin: The Journal of the IAA
Volume49
Issue number3
Early online date17 Jun 2019
DOIs
Publication statusPublished - Sep 2019

Keywords

  • Affluence index
  • CBD-X model
  • Danish mortality data
  • forward correlation term structure
  • gravity model
  • multipopulation mortality modelling

ASJC Scopus subject areas

  • Accounting
  • Finance
  • Economics and Econometrics

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