Stochastic Vortexes and Permanent Disability

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Stochastic vortexes offer useful models in great variety of situations in which populations are open with entrances and departures. The population covered by Social Security is such a population. The cases where workers receive a disability pension are the basis of this study. Using a Spanish data set, we developed a model to estimate the long run distribution for the number of permanent invalid in the various ages, which is used to calculate a lower bound for Social Security responsibility, per capita.
Original languageEnglish
Pages (from-to)1-6
Number of pages6
JournalBoletim do Instituto dos Actuários Portugueses
Publication statusPublished - 1 Jan 2004


  • Stochastic Vortexes
  • Long Run Distribution


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