Getting life expectancy estimates right for pension policy: period versus cohort approach

In many policy areas it is essential to use the best estimates of life expectancy, but it is vital to most areas of pension policy. This paper presents the conceptual differences between static period and dynamic cohort mortality tables, estimates the differences in life expectancy for Portugal and...

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Authors: Ayuso, Mercedes, Bravo, Jorge Miguel, Holzmann, Robert
Format: article
Status:Versión aceptada para publicación
Publication Date:2021
Country:España
Institution:Universidad de Barcelona
Repository:Dipòsit Digital de la UB
OAI Identifier:oai:diposit.ub.edu:2445/175751
Online Access:https://hdl.handle.net/2445/175751
Access Level:Open access
Keyword:Esperança de vida
Pensions a la vellesa
Risc (Economia)
Estadística demogràfica
Mètode comparatiu
Life expectancy
Old age pensions
Risk
Vital statistics
Comparative method
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spelling Getting life expectancy estimates right for pension policy: period versus cohort approachAyuso, MercedesBravo, Jorge MiguelHolzmann, RobertEsperança de vidaPensions a la vellesaRisc (Economia)Estadística demogràficaMètode comparatiuLife expectancyOld age pensionsRiskVital statisticsComparative methodIn many policy areas it is essential to use the best estimates of life expectancy, but it is vital to most areas of pension policy. This paper presents the conceptual differences between static period and dynamic cohort mortality tables, estimates the differences in life expectancy for Portugal and Spain, and compares official estimates of both life expectancy estimates for Australia, the United Kingdom, and the United States for 1981, 2010, and 2060. These comparisons reveal major differences between period and cohort life expectancy in and between countries and across years. The implications of using wrong estimates for pension policy, including financial sustainability, are exploredCambridge University Press2021info:eu-repo/semantics/articleinfo:eu-repo/semantics/acceptedVersionapplication/pdfhttps://hdl.handle.net/2445/175751Articles publicats en revistes (Econometria, Estadística i Economia Aplicada)reponame:Dipòsit Digital de la UBinstname:Universidad de BarcelonaInglésVersió postprint del document publicat a: https://doi.org/10.1017/S1474747220000050Journal of Pension Economics and Finance, 2021, vol. 20, num. 2, p. 212-231https://doi.org/10.1017/S1474747220000050(c) Cambridge University Press, 2021info:eu-repo/semantics/openAccessoai:diposit.ub.edu:2445/1757512026-05-27T06:46:51Z
dc.title.none.fl_str_mv Getting life expectancy estimates right for pension policy: period versus cohort approach
title Getting life expectancy estimates right for pension policy: period versus cohort approach
spellingShingle Getting life expectancy estimates right for pension policy: period versus cohort approach
Ayuso, Mercedes
Esperança de vida
Pensions a la vellesa
Risc (Economia)
Estadística demogràfica
Mètode comparatiu
Life expectancy
Old age pensions
Risk
Vital statistics
Comparative method
title_short Getting life expectancy estimates right for pension policy: period versus cohort approach
title_full Getting life expectancy estimates right for pension policy: period versus cohort approach
title_fullStr Getting life expectancy estimates right for pension policy: period versus cohort approach
title_full_unstemmed Getting life expectancy estimates right for pension policy: period versus cohort approach
title_sort Getting life expectancy estimates right for pension policy: period versus cohort approach
dc.creator.none.fl_str_mv Ayuso, Mercedes
Bravo, Jorge Miguel
Holzmann, Robert
author Ayuso, Mercedes
author_facet Ayuso, Mercedes
Bravo, Jorge Miguel
Holzmann, Robert
author_role author
author2 Bravo, Jorge Miguel
Holzmann, Robert
author2_role author
author
dc.subject.none.fl_str_mv Esperança de vida
Pensions a la vellesa
Risc (Economia)
Estadística demogràfica
Mètode comparatiu
Life expectancy
Old age pensions
Risk
Vital statistics
Comparative method
topic Esperança de vida
Pensions a la vellesa
Risc (Economia)
Estadística demogràfica
Mètode comparatiu
Life expectancy
Old age pensions
Risk
Vital statistics
Comparative method
description In many policy areas it is essential to use the best estimates of life expectancy, but it is vital to most areas of pension policy. This paper presents the conceptual differences between static period and dynamic cohort mortality tables, estimates the differences in life expectancy for Portugal and Spain, and compares official estimates of both life expectancy estimates for Australia, the United Kingdom, and the United States for 1981, 2010, and 2060. These comparisons reveal major differences between period and cohort life expectancy in and between countries and across years. The implications of using wrong estimates for pension policy, including financial sustainability, are explored
publishDate 2021
dc.date.none.fl_str_mv 2021
dc.type.none.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/acceptedVersion
format article
status_str acceptedVersion
dc.identifier.none.fl_str_mv https://hdl.handle.net/2445/175751
url https://hdl.handle.net/2445/175751
dc.language.none.fl_str_mv Inglés
language_invalid_str_mv Inglés
dc.relation.none.fl_str_mv Versió postprint del document publicat a: https://doi.org/10.1017/S1474747220000050
Journal of Pension Economics and Finance, 2021, vol. 20, num. 2, p. 212-231
https://doi.org/10.1017/S1474747220000050
dc.rights.none.fl_str_mv (c) Cambridge University Press, 2021
info:eu-repo/semantics/openAccess
rights_invalid_str_mv (c) Cambridge University Press, 2021
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Cambridge University Press
publisher.none.fl_str_mv Cambridge University Press
dc.source.none.fl_str_mv Articles publicats en revistes (Econometria, Estadística i Economia Aplicada)
reponame:Dipòsit Digital de la UB
instname:Universidad de Barcelona
instname_str Universidad de Barcelona
reponame_str Dipòsit Digital de la UB
collection Dipòsit Digital de la UB
repository.name.fl_str_mv
repository.mail.fl_str_mv
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score 15,300719

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