This paper is the first to non-experimentally establish a causal relationship between households’ mortality beliefs and …’s expectation formation, I exploit the death of a close friend as an exogenous shock to the salience of mortality of a household … consumption life-cycle model by this shock to mortality beliefs to explore how personal experiences are incorporated into the …

We introduce a simple extension to the CBDX model to project cohort mortality rates to extreme old age. The proposed … sample age range, then splices the sample and projected age effects, and uses the spliced age effects to obtain mortality … depend on projections of extreme old age mortality rates …

This article shows how cohort mortality rate projections of mortality models that involve age effects can be improved …