Econometric Reviews Honors Cheng Hsiao

Abstract

This collection of five issues of Econometric Reviews is to honor the path-breaking contributions and leadership of Cheng Hsiao in the Economics and Econometrics profession. Throughout Cheng’s long and distinguished career, he has assembled an impressive record of both prolific research and exemplary service to the profession. He has made profound and impactful contributions in both theoretical and applied econometrics. The range of his interests is broad and covers a wide range of topics, including panel data, structural models, measurement errors and latent variables, time series models, policy evaluation and counterfactual analysis, amongst others. His work in these areas has been very influential and has made an immediate impact on generations of econometricians and applied economists. Cheng’s influence on panel data analysis is extensive. It derives from a number of key contributions to estimation and inference, as well as a standard-setting comprehensive text on the subject matter. His stewardship of the Journal of Econometrics, through many years and phases, is universally acknowledged and highly regarded. His friends and fellow professionals regard him as a scholar’s scholar and an objective and consistent researcher and editor. Cheng has also been a leader and mainstay of an impressive program at the University of Southern California and a mentor to numerous students from several continents, some of whom are leading econometricians in their own right. We are honored to coedit these fives issues and join the distinguished authors of the papers published herein to acknowledge the enormity and lasting significance of the body of Cheng’s work and his mentorship. Cheng is beloved by his friends and students around the world and is known for his generosity and graceful treatment of all comers. The response by many leading researchers to our announcement of this Special Issue has been remarkable and positive, leading to the designation of 5 issues in order to publish the papers that were successful through several rounds of refereeing in accordance with peer review standards and the requirements of Econometric Reviews. A brief description of these contributions follows: