I am an economist at Federal Reserve Bank of St. Louis.

My research interests are in economic growth, innovation and technological change. I also have interests in the use of text as data. 

Email: aakash.kalyani@outlook.com. For my CV, click here.

Working Papers:

"Economic Surveillance using Corporate Text" (June 2024) w/ Tarek Hassan, Stephan Hollander, Laurence Van Lent, Markus Schwedeler, and Ahmed Tahoun.  -- New Draft

Prepared for the Journal of Economic Perspectives

We describe application of simple methods from computational linguistics to analyze unstructured corporate texts for economic surveillance.

"The Creativity Decline: Evidence from US Patenting" (April 2024) -- Updated Draft

Slides Working paper        SSRN        St Louis Fed Working Paper   Data available upon request

The divergence between increasing patents and falling productivity growth is explained by a decline in patent creativity, as measured by the share of novel technical terminology in patents. A third of the decline in creativity is due to a lack of new inventors.

Non-academic discussion: Stl Fed, Forbes

"Diffusion of New Technologies" (2023) w/ Nicholas Bloom, Marcela Carvalho, Tarek Hassan, Josh Lerner, and Ahmed Tahoun. 

Revise & Resubmit at Quarterly Journal of Economics

NBER WP SSRN Data   VoxEu   Slides    Slides (pdf)  

Using textual analysis of patents, job postings, and earnings conference calls, we track the development and diffusion of new technologies. The development of new technologies is highly concentrated geographically. Hiring spreads geographically and across skill levels as technologies mature, this process is slow, taking around 50 years.

Policy articles