<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>0186-1042</journal-id>
<journal-title><![CDATA[Contaduría y administración]]></journal-title>
<abbrev-journal-title><![CDATA[Contad. Adm]]></abbrev-journal-title>
<issn>0186-1042</issn>
<publisher>
<publisher-name><![CDATA[Universidad Nacional Autónoma de México, Facultad de Contaduría y Administración]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S0186-10422022000300006</article-id>
<article-id pub-id-type="doi">10.22201/fca.24488410e.2022.3290</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[Productos derivados para cobertura del riesgo de longevidad: estimación de mortalidad y simulaciones con datos mexicanos]]></article-title>
<article-title xml:lang="en"><![CDATA[Longevity-risk hedge with derivatives: Mortality estimation and simulations with data from Mexico]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Esteban Aguirre]]></surname>
<given-names><![CDATA[Marco Antonio]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Rodríguez-Reyes]]></surname>
<given-names><![CDATA[Luis Raúl]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Sierra-Juárez]]></surname>
<given-names><![CDATA[Guillermo]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Universidad Autónoma de Guadalajara  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Mexico</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,Instituto Tecnológico y de Estudios Superiores de Occidente  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Mexico</country>
</aff>
<aff id="Af3">
<institution><![CDATA[,Universidad de Guadalajara  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Mexico</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>09</month>
<year>2022</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>09</month>
<year>2022</year>
</pub-date>
<volume>67</volume>
<numero>3</numero>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S0186-10422022000300006&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S0186-10422022000300006&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S0186-10422022000300006&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen El objetivo de este artículo es mostrar la factibilidad de que productos derivados sean utilizados como cobertura del riesgo de longevidad en Latinoamérica. Para ello, se construye un índice de longevidad con datos mexicanos usando el modelo Lee-Carter y se simulan diversos instrumentos derivados de longevidad. Se concluye que un ecosistema de instrumentos derivados es factible en México por dos razones, éstos son efectivos como cobertura del riesgo de longevidad y el índice de longevidad construido, y utilizado como activo subyacente, no presenta correlación con índices accionarios relevantes, lo que lo hace factible como parte de un portafolio financiero amplio. La originalidad de este trabajo consiste en la adaptación de metodologías de valuación inéditas para México y la estimación de un índice de longevidad propio, y la principal limitante es que el ecosistema está sujeto a un riesgo base con respecto a la estructura poblacional en el futuro.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract  The objective of this article is to show the feasibility of derivative products being used to hedge longevity risk in Latin America. To do this, a longevity index is built with Mexican data using the Lee-Carter model and several longevity-linked derivatives are simulated. Results indicate that an ecosystem of derivative instruments is feasible in Mexico for two reasons: they are effective as hedging against longevity risk and the estimated longevity index, used as an underlying asset, does not correlate with relevant stock indices, which makes it feasible as part of a comprehensive financial portfolio. The originality of this research consists in the adaptation for Mexico of novel valuation methodologies and the new estimation of a longevity index. The main limitation of this research is that the ecosystem is subject to a base risk with respect to the population structure in the future]]></p></abstract>
<kwd-group>
<kwd lng="es"><![CDATA[longevidad]]></kwd>
<kwd lng="es"><![CDATA[opciones]]></kwd>
<kwd lng="es"><![CDATA[pensiones]]></kwd>
<kwd lng="es"><![CDATA[swaps]]></kwd>
<kwd lng="es"><![CDATA[swaptions]]></kwd>
<kwd lng="en"><![CDATA[longevity]]></kwd>
<kwd lng="en"><![CDATA[options]]></kwd>
<kwd lng="en"><![CDATA[pensions]]></kwd>
<kwd lng="en"><![CDATA[swaps]]></kwd>
<kwd lng="en"><![CDATA[swaptions]]></kwd>
</kwd-group>
</article-meta>
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