Polytechnic University of Valencia Congress, CARMA 2020 - 3rd International Conference on Advanced Research Methods and Analytics

Font Size: 
Data granularity in mid-year life table construction
Jose M Pavia, Natalia Salazar, Josep Lledo

Last modified: 11-05-2020

Abstract


Life tables have a substantial influence on both public pension systems and
life insurance policies. National statistical agencies construct life tables from
hypotheses death rate estimates to the (mx aggregated ), or death figures probabilities of demographic (q x ), after applying events (deaths,
various
migrations and births). The use of big data has become extensive across
many disciplines, including population statistics. We take advantage of this
fact to create new (more unrestricted) mortality estimators within the family
of period-based estimators, in particular, when the exposed-to-risk
population is computed through mid-year population estimates. We use
actual data of the Spanish population to explore, by exploiting the detailed
microdata of births, deaths and migrations (in total, more than 186 million
demographic events), the effects that different assumptions have on
calculating death probabilities. We also analyse their impact on a sample of
insurance product. Our results reveal the need to include granular data,
including the exact birthdate of each person, when computing period mid-
year life tables.


Full Text: PDF