In recent multi-population stochastic mortality models, one critical scientific issue is the vague distinction between … trend risk and population basis risk. In particular, the cross- and auto-correlations between the innovations of the latent … uncorrelated. This permits us to disentangle trend risk and population basis risk, thereby sparing us from the need to use a …

on mortality securities are largely unknown due to the lack of appropriate tractable models for valuation and risk … others as well as offering optimal mean-variance mortality hedging rules. Numerical studies are conducted to examine the … impact of LRD within mortality rates on various insurance products and the hedging efficiency …

of financial assets proves their effectiveness in modeling multivariate financial series and assessing risk measures …, such as the value at risk and the expected shortfall. …