This paper introduces a new approach to the modelling of a stationary long run component, which is an autoregressive process with near unit root and small sigma innovation. We show that a combination of a noise and a long run component can explain the long run predictability puzzle pointed out...

This Special Issue of Geneva Papers on Risk and Insurance - Issues and Practice contains 10 contributions to the academic literature all dealing with longevity risk and capital markets. Draft versions of the papers were presented at Longevity Six: The Sixth International Longevity Risk and...