Age-time interactions in mortality projection: applying Lee-Carter to Australia
Application of the Lee-Carter method to Australian data shows that model assumptions are not always met because of age-time interactions. The Lee-Carter method is adapted to take account of departures from linearity in the dominant time component and the failure to satisfy the assumption of an invariant age component. The most significant adaptation is a methodology for determining the ‘optimum’ fitting period in order to address non-linearity in the time component. In the Australian case,...[Show more]
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