Global Ease of Living Index: a machine learning framework for longitudinal analysis of major economies

19d ago · Global · primary source: export.arxiv.org

Researchers have published a machine learning framework that constructs a Global Ease of Living Index, tracking quality of life across major economies from 1970 onward by combining socio-economic and infrastructural indicators into a single composite score [1]. The framework, detailed in a paper by Tanay Panat and Rohitash Chandra, uses dimensionality reduction techniques—Principal Component Analysis and Factor Analysis—to distill a wide range of economic indicators into a manageable set of factors [1][4]. The authors address the problem of missing data for certain indicators in specific countries through machine learning imputation before curating and updating the dataset [1][2]. The resulting index is a weighted sum of four sub-indices: Economic, Institutional, Quality of Life, and Sustainability [4]. The Quality of Life sub-index receives the highest weight at 0.35, while the Economic and Institutional sub-indices are each weighted at 0.25, and Sustainability at 0.15 [4]. The weighting scheme draws partial inspiration from the Ease of Living Index created by the Government of India, though the new global index places less reliance on economic factors and greater emphasis on institutional and quality-of-life measures such as healthcare and government effectiveness [4]. The study ranks countries annually from 1970 through 2021, focusing on G20 members and comparing nations at different development stages [4][5]. The authors state the tool is designed to help policymakers identify areas needing targeted intervention, including healthcare systems, employment opportunities, and public safety [1][2]. The code and data are released openly to enable reproduction and application in other contexts [1][2].

commentarytool-releaseresearch-paperregulation

Background sources we checked (7)
  • arxiv.org ↗ The drastic changes in the global economy, geopolitical conditions, and disruptions such as the COVID-19 pandemic have impacted the cost of living and quality of life. It is essential to comprehend the long-term implications of the cost of living and quality of life in major econ…
  • arxiv.org ↗ [2502.06866] Global Ease of Living Index: a machine learning framework for longitudinal analysis of major economies ... # Title:Global Ease of Living Index: a machine learning framework for longitudinal analysis of major economies ... Authors:[Tanay Panat](https:// ... /search/cs…
  • arxiv.org ↗ The drastic changes in the global economy, geopolitical conditions, and disruptions such as the COVID-19 pandemic have impacted the cost of living and quality of life. It is essential to comprehend the long-term implications of the cost of living and quality of life in major econ…
  • arxiv.org ↗ The drastic changes in the global economy, geopolitical conditions, and disruptions such as the COVID-19 pandemic have impacted the cost of living and quality of life. It is important to understand the long-term nature of the cost of living and quality of life in major economies.…
  • en.wikipedia.org ↗ Literacy is the ability to read and write, and illiteracy is the inability to read and write. Some researchers suggest that the study of literacy as a concept can be divided into two periods: the period before 1950, when literacy was understood solely as alphabetical literacy (un…
  • en.wikipedia.org ↗ Collective intelligence (CI) or group intelligence (GI) is the emergent ability of groups, whether composed of humans alone, animals, or networks of humans and artificial agents, to solve problems, make decisions, or generate knowledge more effectively than individuals alone, thr…
  • en.wikipedia.org ↗ Social media are new media technologies that facilitate the creation, sharing and aggregation of content (such as ideas, interests, and other forms of expression) amongst virtual communities and networks. Common features include: Online platforms enable users to create and share…

Sources covering this (2)

Spot something wrong? Report an issue