About stylized facts
The following three quotations give you an idea what are the stylized facts. For more about stylized facts you may read in the references listed below.
A fact of the real world simplified and made more abstract to be usable in an economic model.Nicholas Kaldor, 1961
Useful web page: http://finance.martinsewell.com/stylized-facts/
Abad, L. A., & Khalifa, K. (2015). What are stylized facts? Journal of Economic Methodology, 22(2), 143-156.
Sewell, M. (2011). Characterization of financial time series. Research Note RN/11/01. UCL Department of Computer Science. [pdf]
Kaldor, N. (1961). Capital accumulation and economic growth. In F. Lutz (Ed.) The theory of capital (pp. 177-222). Proceedings of a Conference held by the IEA, London: Macmillan. pp. 177–222.