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CPS2210 Justyna Majewska et al.

Fig. 4. Age-specific parameter bx for individual LC model fitted to pairs of female populations
for ages 0-100 (5-year age groups) and the period 1950-2015

Fig. 5. Coherent parameter bx for the augumented common factor model fitted to pairs of male
population for ages 0-100 (5-year age groups) and the period 1950-2015

Fig. 6. Coherent parameter bx for the augumented common factor model fitted to pairs of
female population for ages 0-100 (5-year age groups) and the period 1950-2015

Table 1 presents several methods to compare the models’ goodness-of-fit for
in-sample fitting by using explanation ratio (ER), mean absolute error (MAE)
and mean absolute percentage error (MAPE). Li and Hardy (2011) and Li and

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