When assessing the quality of life of people around the world, economists have primarily focused on comparisons between countries, such as European countries versus African countries versus the United States. Key figures such as per capita income, life expectancy, and leisure time are often used. But even within individual states there are significant differences in quality of life. In an academic paper entitled "Comparing Living Standards in the United States," Vegard Nygard, an assistant professor of economics at the University of Houston, and Elena Falsettoni, a senior economist at the Federal Reserve System, I undertook the task of investigating these differences. united states of america". Published in the magazine "International Economic Review". Your goal was to answer the following questions. If you could choose which state you were born in rather than your race, gender, or education, which state would most likely give you the best life? "Comparing states. . . We see significant differences in quality of life factors: for example, life expectancy in Connecticut is three years longer than in New Mexico, and per capita income adjusted for cost of living was higher in 2015 than in New Mexico. and $38,800 in Connecticut, and $60,700 in Connecticut," Nygard said. "We found that no one has comprehensively compared quality of life between states. The study found that the two states with the highest standards of living in the United States are Massachusetts and Minnesota. . No state has the highest spending after adjusting for cost of living (that's North Dakota). This is a guideline for what you can buy with your income. They also don't have the longest life expectancy (California and Hawaii) or the most free time (Mississippi and West Virginia). However, economists believe that Massachusetts and Minnesota have the best balance between elements of the standard of living measure (also known as the welfare measure). The study found that the two states with the lowest standards of living were Alabama and Mississippi. Nygard explained that this is mainly due to their relatively short life expectancy, lower cost-of-living adjusted consumption, and lower education levels. Texas ranks 36th for standard of living, making it one of the states in the bottom 3 percentile. Their results reflect what economists have always suspected: A higher income usually means a higher quality of life. However, some states buck this trend in the data: Hawaii has the 4th lowest per capita cost-of-living adjusted income but 13th in quality of life Conversely, Oklahoma has 1 It has the 23rd highest cost-of-living-adjusted income per capita and the third lowest quality of life, the authors write. To arrive at these results, Nygard and Falsettoni use five variables to measure each state's standard of living: life expectancy, cost-of-living-adjusted consumption, educational attainment, leisure time, and consumption. included inequality. Consumption inequality measures the extent to which consumption, adjusted for the cost of living, differs within countries. There may be one group within a state that consumes more and another group that consumes much less. But in another state, the disparity between people's consumption may be much smaller. "If you don't know whether you're going to be rich or poor, choose the lower option," says Nygard. Nygaard and Falcettoni use did. In each of the economic models he assigned appropriate weights to the five variables and summed the five variables to obtain a numerical value for each state. These numbers allowed the two economists to properly compare living standards between states. Nygaard and Falcettoni's data is from 2013 to 2017, but what?

 When assessing the quality of life of people around the world, economists have primarily focused on comparisons between countries, such as European countries versus African countries versus the United States.

Key figures such as per capita income, life expectancy, and leisure time are often used.

But even within individual states there are significant differences in quality of life.

In an academic paper entitled "Comparing Living Standards in the United States," Vegard Nygard, an assistant professor of economics at the University of Houston, and Elena Falsettoni, a senior economist at the Federal Reserve System, I undertook the task of investigating these differences.

united states of america".

Published in the magazine "International Economic Review".

Your goal was to answer the following questions.

If you could choose which state you were born in rather than your race, gender, or education, which state would most likely give you the best life?

"Comparing states.

.

.

We see significant differences in quality of life factors: for example, life expectancy in Connecticut is three years longer than in New Mexico, and per capita income adjusted for cost of living was higher in 2015 than in New Mexico.

and $38,800 in Connecticut, and $60,700 in Connecticut," Nygard said.

"We found that no one has comprehensively compared quality of life between states.

The study found that the two states with the highest standards of living in the United States are Massachusetts and Minnesota.

.

No state has the highest spending after adjusting for cost of living (that's North Dakota).

This is a guideline for what you can buy with your income.

They also don't have the longest life expectancy (California and Hawaii) or the most free time (Mississippi and West Virginia).

However, economists believe that Massachusetts and Minnesota have the best balance between elements of the standard of living measure (also known as the welfare measure).

The study found that the two states with the lowest standards of living were Alabama and Mississippi.

Nygard explained that this is mainly due to their relatively short life expectancy, lower cost-of-living adjusted consumption, and lower education levels.

Texas ranks 36th for standard of living, making it one of the states in the bottom 3 percentile.

Their results reflect what economists have always suspected: A higher income usually means a higher quality of life.

However, some states buck this trend in the data: Hawaii has the 4th lowest per capita cost-of-living adjusted income but 13th in quality of life Conversely, Oklahoma has 1 It has the 23rd highest cost-of-living-adjusted income per capita and the third lowest quality of life, the authors write.

To arrive at these results, Nygard and Falsettoni use five variables to measure each state's standard of living: life expectancy, cost-of-living-adjusted consumption, educational attainment, leisure time, and consumption.

included inequality.

Consumption inequality measures the extent to which consumption, adjusted for the cost of living, differs within countries.

There may be one group within a state that consumes more and another group that consumes much less.

But in another state, the disparity between people's consumption may be much smaller.

"If you don't know whether you're going to be rich or poor, choose the lower option," says Nygard.

Nygaard and Falcettoni use did.

In each of the economic models he assigned appropriate weights to the five variables and summed the five variables to obtain a numerical value for each state.

These numbers allowed the two economists to properly compare living standards between states.

Nygaard and Falcettoni's data is from 2013 to 2017, but what?