Exploring 3D datasets: a factorial matrices analysis of the US industry in the 1980s

Abstract

In this paper a Factorial Matrices technique suitable for exploratory analysis of multivariate, disaggregated time series is presented and applied to a data set covering 19 US manufacturing industries over the years 1979 to 1990. The empirical analysis confirms that the technique is a powerful tool, allowing otherwise difficult extraction of stylized facts from multidimensional datasets. In this case: (i) there are no signs of deindustrialization induced by growing import penetration, and, (ii), employment decline has generally not been associated to substitution of capital to labour.