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Comparison of the Lee-Carter and Arch in Modelling and Forecasting Mortality in Zimbabwe

Author

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  • Rodney Taruvinga
  • Walter Gachira
  • Washington Chiwanza
  • Dingilizwe Jacob Nkomo

Abstract

This paper aims to determine which model best fits the mortality profile of Zimbabwe. The models that being compared were the Lee-Carter and ARCH and the period under review was from 1983-2004 using mortality rates of five years age interval. The parameters of the Lee-Carter model were estimated using singular value decomposition. The box Jenkins approach was used to determine the order of lags for the ARIMA. An ARIMA (1, 1, 1) was used to forecast the overall mortality levels. To determine which model best fit the mortality profile of Zimbabwe goodness of fit using the Kolmogorov-Simonov and root mean square error was used. The result suggested that the Lee-Carter model provided a better fit as compared to ARCH. However both models failed to fit for ages between 50-59 years. Both models were used to forecast, but selecting the one that had the best fit of the two models on a particular age group interval for the period 2005-2014.This paper concludes that generally the Lee-Carter model provided a better fit for the mortality profile of Zimbabwe.

Suggested Citation

  • Rodney Taruvinga & Walter Gachira & Washington Chiwanza & Dingilizwe Jacob Nkomo, 2017. "Comparison of the Lee-Carter and Arch in Modelling and Forecasting Mortality in Zimbabwe," Asian Journal of Economic Modelling, Asian Economic and Social Society, vol. 5(1), pages 11-22.
    • Handle: RePEc:asi:ajemod:v:5:y:2017:i:1:p:11-22:id:877
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    Cited by:

    1. Sharifah Liyana Marissa Malik Syed Abdul & Haslinda Yusoff & Nafsiah Mohamed, 2019. "Factors That Might Lead to Corruption: A Case Study on Malaysian Government Agency," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 10(3), pages 216-229, May.

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