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Pricing reverse mortgages in Spain

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dc.contributor.author Debón Aucejo, Ana María es_ES
dc.contributor.author Montes, F. es_ES
dc.contributor.author Sala, R. es_ES
dc.date.accessioned 2014-10-16T09:39:39Z
dc.date.available 2014-10-16T09:39:39Z
dc.date.issued 2013-07
dc.identifier.issn 2190-9733
dc.identifier.uri http://hdl.handle.net/10251/43326
dc.description.abstract [EN] In Spain, as in other European countries, the continuous ageing of the population creates a need for long-term care services and their financing. However, in Spain the development of this kind of services is still embryonic. The aim of this article is to obtain a calculation method for reverse mortgages in Spain based on the fit and projection of dynamic tables for Spanish mortality, using the Lee and Carter model. Mortality and life expectancy for the next 20 years are predicted using the fitted model, and confidence intervals are obtained from the prediction errors of parameters for the mortality index of the model. The last part of the article illustrates an application of the results to calculate the reverse mortgage model promoted by the Spanish Instituto de Crédito Oficial (Spanish State Financial Agency), for which the authors have developed a computer application. es_ES
dc.description.sponsorship The authors are indebted to Jose Garrido, whose suggestions improved the original manuscript, and to the anonymous referee for his/her valuable comments. This work was partially supported by grants from the MEyC (Ministerio de Educacio´n y Ciencia, Spain), projects MTM2010- 14961 and MTM2008-05152.
dc.language Inglés es_ES
dc.publisher Springer Verlag (Germany) es_ES
dc.relation.ispartof European Actuarial Journal es_ES
dc.rights Reserva de todos los derechos es_ES
dc.subject Reverse Mortgage es_ES
dc.subject Lee-Carter model es_ES
dc.subject.classification ESTADISTICA E INVESTIGACION OPERATIVA es_ES
dc.title Pricing reverse mortgages in Spain es_ES
dc.type Artículo es_ES
dc.identifier.doi 10.1007/s13385-013-0071-y
dc.relation.projectID info:eu-repo/grantAgreement/MICINN//MTM2008-05152/ES/METODOS ESTADISTICOS PARA LOS SEGUROS VIDA. APLICACION A LA HIPOTECA INVERSA/ es_ES
dc.relation.projectID info:eu-repo/grantAgreement/MICINN//MTM2010-14961/ES/PROBLEMAS NOTABLES EN PROCESOS ESTOCASTICOS ESPACIO-TEMPORALES/ es_ES
dc.rights.accessRights Abierto es_ES
dc.contributor.affiliation Universitat Politècnica de València. Departamento de Estadística e Investigación Operativa Aplicadas y Calidad - Departament d'Estadística i Investigació Operativa Aplicades i Qualitat es_ES
dc.description.bibliographicCitation Debón Aucejo, AM.; Montes, F.; Sala, R. (2013). Pricing reverse mortgages in Spain. European Actuarial Journal. 3:23-43. https://doi.org/10.1007/s13385-013-0071-y es_ES
dc.description.accrualMethod S es_ES
dc.relation.publisherversion http://dx.doi.org/10.1007/s13385-013-0071-y es_ES
dc.description.upvformatpinicio 23 es_ES
dc.description.upvformatpfin 43 es_ES
dc.type.version info:eu-repo/semantics/publishedVersion es_ES
dc.description.volume 3 es_ES
dc.relation.senia 255705
dc.contributor.funder Ministerio de Ciencia e Innovación
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