Lee–Carter model

The Lee–Carter model is a widely used statistical model for forecasting mortality rates and modeling demographic trends. Developed by economist Richard Lee and statistician Lawrence Carter in 1992, the model provides a framework for analyzing and projecting mortality rates for a population, typically focusing on age-specific death rates. ### Key Features of the Lee–Carter Model: 1. **Functional Form**: The model expresses the logarithm of age-specific mortality rates as a function of time and age.