NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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Measuring Technological Innovation over the Long Run

Bryan Kelly, Dimitris Papanikolaou, Amit Seru, Matt Taddy

NBER Working Paper No. 25266
Issued in November 2018

---- Acknowledgments ----

We thank Pierre Azoulay, Nicholas Bloom, Diego Comin, Carola Frydman, Kyle Jensen, Matt Richardson, and seminar participants at AQR and NBER Summer Institute for valuable comments and discussions. We are grateful to Kinbert Chou, Inyoung Choi, Jinpu Yang and Jiaheng Yu for excellent research assistance and to Enrico Berkes and Cagri Akkoyun for sharing their data. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

---- Disclosure of Financial Relationships for Bryan Kelly ----

I have received consulting income from AQR Capital Management exceeding $10,000 over the past three years. AQR Capital Management is a global investment management firm, which may or may not apply similar investment techniques or methods of analysis as described herein. The views expressed here are those of the authors and not necessarily those of AQR.

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