volume 12, issue 1, P5-38 2006
DOI: 10.1017/s1357321700004682
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S. J. Richards, J. G. Kirkby, I. D. Currie

Abstract: ABSTRACTLate-life mortality patterns are of crucial interest to actuaries assessing longevity risk. One important explanatory variable is year of birth. We present the results of various analyses demonstrating this, including a statistical model which lends weight to the importance of year-of-birth effects in both population and insured data. We further find that a model based on age and year of birth fits United Kingdom mortality data better than a model based on age and period, suggesting that cohort effects…

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