Implementation in R and Matlab of Econometric Models Applied to Ages After Retirement in Europe

Patricia Carracedo () and Ana Debón ()
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Patricia Carracedo: Universidad Internacional de Valencia
Ana Debón: Universitat Politècnica de València

A chapter in Mathematical and Statistical Methods for Actuarial Sciences and Finance, 2021, pp 129-135 from Springer

Abstract: Abstract Econometric models such as panel data models are becoming popular due to available software to implement them. Therefore, a comparison between R and Matlab software, detailing the steps to obtain the models can be useful. The steps to study the convenience of increasing the complexity of the model are described and models are validated by the measures of goodness of fit $$R^2$$ R 2 and residual variance $$\sigma ^2$$ σ 2 . The cost of retirement ages has been the focus of the attention of insurers and Social Security administrations; then, the implementation is carried out with an example of mortality for ages after retirement in Europe. This study aims to improve and compare data panel models using MATLAB and R software. These models take into account the temporal and spatial dependence of the data and identify the covariables which explain mortality. The panel data used correspond to the male and female mortality of the aged population of European countries from the Human Mortality Database. Mortality is quantified with the Comparative Mortality Figure, which is the most suitable statistic for comparison of mortality by sex over space when detailed specific mortality is available for each studied population. The covariates considered in the model are collected from Eurostat and the World Data Bank.

Keywords: Comparative Mortality Figure; Spatial-panel data models; Europe; Matlab; R (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-78965-7_20

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DOI: 10.1007/978-3-030-78965-7_20

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