  Several approaches have been developed for forecasting mortality using the
stochastic model. In particular, the Lee-Carter model has become widely used
and there have been various extensions and modifications proposed to attain a
broader interpretation and to capture the main features of the dynamics of the
mortality intensity. Hyndman-Ullah show a particular version of the Lee-Carter
methodology, the so-called Functional Demographic Model, which is one of the
most accurate approaches as regards some mortality data, particularly for
longer forecast horizons where the benefit of a damped trend forecast is
greater. The paper objective is properly to single out the most suitable model
between the basic Lee-Carter and the Functional Demographic Model to the
Italian mortality data. A comparative assessment is made and the empirical
results are presented using a range of graphical analyses.
