Future evolution of mortality poses important challenges for life insurance, pension funds, public policy and fiscal planning. Indeed, when fair values, premium rates and risk reserves are computed, sound and accurate models to forecast stochastic longevity are needed. In this paper, we propose...

Federal funds rate in the US is the interest rate that the banks pay each other for lending funds overnight. Fed funds rate is an important benchmark in the economy because of its significant impact on many other financial indices. The target rate is determined by Federal Open Market Committee...