MODELLING SOCIO-ECONOMIC DIFFERENCES IN MORTALITY USING A NEW AFFLUENCE INDEX. Issue 3 (17th June 2019)

• Record Type: Journal Article
• Authors: Cairns, Andrew J.G.; Kallestrup-Lamb, Malene; Rosenskjold, Carsten; Blake, David; Dowd, Kevin
• Is Part Of: ASTIN bulletin. Volume 49:Issue 3(2019)
• Page Start: 555
• Page End: 590
• Publication Date: 2019-06-17
• Subjects: Affluence index, -- Danish mortality data, -- CBD-X model, -- gravity model, -- multipopulation mortality modelling, -- forward correlation term structure; J11, -- C53, -- G22; Insurance -- Mathematics -- Periodicals; Risk (Insurance) -- Mathematics -- Periodicals; 368.01
• DOI: 10.1017/asb.2019.14
• Languages: English
• ISSNs: 0515-0361

Abstract

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.