Perspective on the pension sector  The classical Danish encyclopaedia, Salmonsen, from 1923, says: "it was formerly believed that human life should not be the subject of valuation and consequently could not be insured. Maintenance allowances, particularly life annuities, were an entirely different matter.
In fact, the best specifications of the same hybrid NKPC were evaluated by looking at out-of-sample dynamic projections of inflation over the period up to end-2014 based on two different estimation samples, one ending in 2007 and the other in 2009. Figure 6 shows that the results are satisfactory for both exercises.