Accepting non-linearities as an endemic feature of financial data, this paper re-examines Cochrane"s "new fact in finance" hypothesis (Cochrane, Economic Perspectives-FRB of Chicago 23, 36–58, 1999). By implementing two methods, frequently encountered in digital signal processing analysis,...

This article using the principal components analysis identifies key industries and groups them into particular clusters. The data come from the US benchmark input-output tables of the years 2002, 2007, 2012 and the most recently published input-output table of the year 2019. We observe some...