The prototypical Lee-Carter mortality model is characterized by a single common time factor that loads differently … across age groups. In this paper, we propose a parametric factor model for the term structure of mortality where multiple … factors: a factor common for all age groups, factors for infant and adult mortality, and a factor for the “accident hump” that …

Multi-population mortality forecasting has become an increasingly important area in actuarial science and demography …, as a means to avoid long-run divergence in mortality projection. This paper aims to establish a unified state …-space Bayesian framework to model, estimate and forecast mortality rates in a multi-population context. In this regard, we …