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COVID-19 mortality and age
Another look at the Gompertz model
The year 1825 was a significant one not only for actuaries but for the wider scientific community: Benjamin Gompertz published his landmark paper on the graduation of human mortality (Gompertz, 1825). There were at least three completely new ideas in his paper. First, he gave his famous law of mortality. To quote Gompertz:
Separation as a service
Wash your hands, live longer
Best practice in mortality work - regulatory comments
Mortality crossover
The sound of progress
Model selection
When fitting a mortality model, analysts are faced with the decision of which risk factors to include or exclude. One way of doing this is to look for the improvement in an information criterion that balances the fit against the number of parameters. The bigger the improvement in the information criterion, the more strongly the model with the smaller value is preferred.
Constraints and the R language
This is the fourth and final blog on the use of constraints in the modelling and forecasting of mortality. The previous three blogs (here, here and here) demonstrated that there is no need to worry about which linear constraints to use: the fitted values of mortality and crucially their forecast values always come out the same.