Faculty


Hashem Pesaran

John Elliott Distinguished Chair in Economics and Professor of Economics
Director
Director of the USC Center for Applied Financial Economics

Contact Information
E-mail: pesaran@usc.edu
Phone: (213) 740-3510
Office: KAP 324B

LINKS
Curriculum Vitae
 

Biographical Sketch

Dr M Hashem Pesaran was born in Shiraz, Iran. He got his school diploma from Nemazi School in Shiraz and left for England for further studies on a scholarship from Bank Markazi Iran in November 1964. He received his BSc (First Class Honours) in Economics, Mathematic and Statistics at the University of Salford (England) and his PhD in Economics at Cambridge University. Currently, he is an emeritus Professor of Economics at the University of Cambridge, the John Elliot Distinguished Chair in Economics at the University of Southern California, and a Professorial Fellow of Trinity College, Cambridge. Previously, he was head of the Economic Research Department of the Central Bank of Iran (1974-76) and the Under-Secretary of the Ministry of Education (1976-78), Iran. He has also been a Professor of Economics and the Director of the Applied Econometrics Program at UCLA (1989-93), and a Visiting Professor at the Institute of Advanced Studies in Vienna, the University of Pennsylvania, and the University of Southern California, where he served as the Director of USC College Institute for Economic Policy Research over the period October 2004 to April 2006. He is a Fellow of the British Academy, a Fellow of the Econometric Society, and a Fellow of the Journal of Econometrics. He was awarded Honorary Doctorates by the University of Salford in 1993, and by the University of Goethe, Frankfurt in 2008. He is the recipient of the 1990 George Sell Prize from The Institute of Petroleum, London, the 1992 Royal Economic Society Prize for the best article published in The Economic Journal for the years 1990 and 1991, the joint recipient of the Econometric Reviews Best Paper Award 2002-2004 for his paper on Long Run Structural Modelling, and the joint recipient of the Best Paper Award 2004-2005 for his paper in the International Journal of Forecasting. Dr Pesaran is the founding editor of the Journal of Applied Econometrics, and a co-developer of Microfit, an econometric software package published by Oxford University Press. He has been a member of the Board of Trustees of the Economic Research Forum for Arab Countries, Iran and Turkey, and has served as a member of the World Bank's Council of Advisers for the Middle East and North Africa, 1996-2000. Dr Pesaran has served as a non-executive Director on the Board of Acorn Investment Trust, Chiltern PLC, and Cambridge Econometrics, and has been an Honorary President of Cambridge Econometrics. In 1997 he became a Charter Member of the Oliver Wyman Institute, serving until January 2000. Between 2000 and 2002 he was appointed Vice President in charge of development and computerized trading systems at Tudor Investment Corporation, Connecticut, USA. He has held a Partnership in GSA Capital PLC during 2006-2009. He has over 175 publications in leading scientific journals and edited volumes in the areas of econometrics, empirical finance and macroeconomics and the Iranian economy, and is an expert in the economics of oil and the Middle East. He is the author of The Limits to Rational Expectations (Blackwell), and co-author of several books: Dynamic Regression: Theory and Algorithms (with Lucy Slater); Keynes' Economics: Methodological Issues, (ed. with Tony Lawson); Disaggregation in Economic Modelling (ed. with Terry Barker); Non-linear Dynamics, Chaos and Econometrics (JW, ed. with Simon Potter); Blackwell's Handbook of Applied Econometrics: Volume I, Macroeconomics (ed. with Mike Wickens), and Volume II, Microeconomics (ed. with Peter Schmidt); Energy Demand in Asian Developing Economies (with Ron Smith and Taka Akiyama, OUP); Analysis of Panels and Limited Dependent Variables: A Volume in Honour of G S Maddala (ed. with Cheng Hsiao, Kajal Lahiri and Lung-Fei Lee, CUP); Global and National Macroenonometric Modelling: A Long Run Structural Approach (with Garratt, Lee, and Shin, OUP, 2006); and Explaining Growth in the Middle East, (ed. with Jeff Nugent, North-Holland, 2007). Time Series Econometrics using Microfit 5, Oxford University Press, 2009.

Education

  • visiting student, Harvard University
  • B.S. Economics with Statistics, University of Salford, England, 1/1968
  • Ph.D. Economics, Cambridge University, 1/1972
  • First Lieutenant, Farahabad Barracks, 1/1976
  • Ph.D. (Honorary) Honorary Degree, Doctor of Letters honoris causa, Salford University, 7/1993
  • M.A. (Honorary) Economics, University of Cambridge, 10/2003
  • Ph.D. (Honorary) Honorary Doctorate, University of Goethe, Frankfurt,, 6/2008

  • Academic Appointment, Affiliation, and Employment History

    Tenure Track Appointments
    • John Elliott Chair in Economics and Professor of Economics, and Director of Center for Applied Financial Economics, University of Southern California, 2005-  
    • Professorial Fellow, Trinity College Cambridge, 1979-  
    • Professor of Economics, Cambridge University, 1988-2012  
    • Professor of Economics and Director, Program in Applied Econometrics, University of California, Los Angeles, 1989-1993  
    • Reader in Economics, Faculty of Economics and Politics, University of Cambridge, 1985-1988  
    • Teaching Fellow and Director of Studies in Economics, Trinity College, Cambridge, UK, 1979-1988  
    • Lecturer in Economics,, Faculty of Economics and Politics, University of Cambridge, 1979-1985  

    Non-Tenure Track Appointments
    • Director, Centre for International Macroeconomics and Finance (CIMF), Cambridge University, 2005-2008  
    • Director, USC College Institute for Economic Policy Research, 2004-2006  

    Visiting and Temporary Appointments
    • Visiting Professor, University of Southern California, Fall 2003   
    • Visiting Professor, University of Southern California, Fall 1999   
    • Visiting Professor, University of Southern California, Fall 1997   
    • Visiting Professor, University of Southern California, Fall 1995   
    • Visiting Professor, University of Pennsylvania , Fall 1993   
    • Visiting Professor, University of California, Los Angeles, 1987-1988   
    • Visiting Fellow, Australian National University, Spring 1984   
    • Visiting Lecturer, Harvard University, Fall 1982   

    PostDoctoral Appointments
    • Junior Research Officer, Department of Applied Economics, Cambridge University, 1971-1973  

    Other Employment
    • Emeritus Professor of Economics, Cambridge University, 2012-  
    • Partner, GSA Capital, 07/2006-07/2009  
    • Vice President for development of computerized trading systems, Tudor Corporation, Greenwich, Connecticut, 2000-2002  
    • Undersecretary, Ministry of Education, Iran, 1977-1978  
    • Head of the Economic Research Department , central Bank of Iran, 1974-1976  
    • Assistant to the Vice-Governor , Central Bank of Iran, 1973-1974   

    Description of Research

    Summary Statement of Research Interests
    As a leading expert of applied econometrics, Pesaran studies quantitative analysis of financial markets, macroeconometric modeling, energy demand and the Middle East economy. He says the next stage in quantitative economic analysis is to develop techniques suitable for real-time applications of econometrics in the fields of business and government decision making. He has begun this process by developing recursive techniques now used in financial modeling. He hopes to soon build the foundation of what might one day be called Real-Time Econometrics. His work has been published in more than 150 academic publications and 13 books. A former economist for the Central Bank of Iran, he has served as consultant to the United Nations, the World Bank and the International Monetary Fund. Recently, he worked with the Tudor Corporation in Connecticut, where he developed a computerized trading system that is currently in operation. The main areas of his research include: National and global macroeconometric modelling (GVAR), Factor models, Empirics of growth Real-time modelling in economics and finance Econometric analysis of dynamic panels: unit root testing and cointegration in panel data models Econometric analysis of non-nested models Credit risk modelling Monetary and foreign exchange policy in Iran
    Research Keywords
    Quantitative analysis of financial markets, national and global macroeconometric modeling, energy demand, Middle East economy
    Research Specialties
    · Real-time modelling in economics and finance · Modeling credit risk · Econometric analysis of dynamic panels · Unit root testing and cointegration in panel data models · Aggregation of dynamic heterogeneous models · Decision theoretic approaches to model evaluation · Empirical analysis of convergence and growth · Econometric analysis of energy demand in Asian economies . National and global macroeconometric Modelling - the pioneer of GVAR modelling · Exchange rate modelling · Monetary and foreign exchange policy in Iran

    Funded Research

    Contracts and Grants Awarded
    • Cambridge Finance Sinopia Research Fellowship, Forecasting in Presence of Structural Instability (Sinopia, HSBC, Paris), M. Hashem Pesaran, $277,842, 09/2006-12/2010  
    • Dynamic Panel Analysis of Interactions and Nonlinearities (ESRC, UK), M Hashem Pesaran, Sean Holly, $276,000, 01/2004-12/2007  
    • ‘International economic linkages and synchronization in business cycles (European Central Bank), M Hashem Pesaran, Sean Holly, $90,000, 2004-2005   

    Affiliations with Research Centers, Labs, and Other Institutions

    • Centre for International Macroeconomics and Finance (CIMF), Research Fellow and the past founding Director, http://www.econ.cam.ac.uk/cimf/
    • CESifo Center for Economic Studies & Ifo Institute for Economic Research at the University of Munich, CESifo Research Network Fellow, http://www.cesifo-group.de/portal/page/portal/ifoHome
    • Info-Metrics Institute, American University, Washington, Advisory Board Member since 2009-, http://www.american.edu/cas/economics/info-metrics/index.cfm
    • Institute for the Study of Labour (IZA), Research Fellow, http://www.iza.org/iza/en/webcontent/personnel/photos/index_html?key=181
    • Judge Business School, Cambridge, Fellow in Finance, http://www.jbs.cam.ac.uk/research/groups/finance.html
    • Royal Economic Society, UK, Council member of the Royal Economic Society, 2007-, http://www.res.org.uk/society/about.asp
    • Spatial Econometrics Association, Fellow and a founding memebr, http://www.spatialeconometricsassociation.org/
    • Volatility Institute at New York University's Stern School of Business, Research Affiliate, http://w4.stern.nyu.edu/volatility/faculty.cfm?doc_id=100942

    Conferences and Other Presentations


    Conference Presentations
    • " Econometric analysis of high dimensional VARs", 4th CSDA International Conference on Computational and Financial Econometrics (CFE'10) , Keynote Lecture, Paper, Senate House, University of London, Society of Computational and Financial Econometric, Invited, 2010-2011   
    • "Aggregation in Large Dimensional Panels", High-Dimensional Econometric Modelling, Lecture/Seminar, Paper, London, Cass Business School, Invited, 2010-2011   
    • "Econometric Analysis of High Dimensional VARs Featuring a Dominant Unit", 6th Colloquium on Modern Tools for Business Cycle Analysis, Keynote Lecture, Paper, Luxembourg , Eurostat, Invited, 2010-2011   
    • "In the Aftermath of the Financial Crisis, Can We Still Model Economic Agents as Rational Actors?", Challenging Models in the Face of Uncertainty, Talk/Oral Presentation, Cambridge, CRASSH, Cambridge University, Invited, 2010-2011   
    • " How to get published and formulating your article: Standards and criteria ", World Econometric Congress, Talk/Oral Presentation, Shanghai, Wiley-Blackwell, Invited, 2009-2010   
    • " Spatial and Temporal Diffusion of House Prices in the UK", 16th International Conference on Panel Data, 2-3 July 2010, Lecture/Seminar, Refereed Paper, Amsterdam, Free University of Amsterdam , 2009-2010   
    • " Supply Demand and Monetary Policy Shocks in a Multi-Country New Keynesian Model", Conference on Recent Developments in Macroeconomics, Keynote Lecture, Paper, Mannheim, Germany, Centre for European Economic Research (, Invited, 2009-2010   
    • " Supply, demand and monetary policy shocks in a multi-country new Keynesian model", QASS Conference on Macro and Financial Economics, Keynote Lecture, Paper, Brunel, UK, Brunel University, Invited, 2009-2010   
    • " The Spatial and Temporal Diffusion of House Prices in the UK", The Chicago/London Conference on Financial Markets, Lecture/Seminar, Paper, London, England, Cass Business School, Invited, 2009-2010   
    • "A century of Oil Income: A Blessing or a Curse for the Iranian Economy", Iranian Economy at a Crossroads. Domestic and Global Challenges, USC, Lecture/Seminar, Paper, Los Angeles, USC, Invited, 2009-2010   
    • "Analysis of non‐stationary panel data", 5th Nordic Econometric Meeting, 29‐31 October 2009, Lund, Sweden, Keynote Lecture, Paper, Lund, Sweden, Nordic Econometric Society, Invited, 2009-2010   
    • "Econometric Analysis of High Dimensional VARs Featuring a Dominant Unit", Cross-sectional dependence, Lecture/Seminar, Paper, London, 16 October 2009, Institute of Fiscal Studies, Invited, 2009-2010   
    • "Forecast Combination across Estimation Windows", 2nd Workshop on Portfolio Optimization, Lecture/Seminar, Paper, london, Imperial College Business School, Invited, 2009-2010   
    • "Modelling Volatilities and Conditional Correlations in Futures Markets", Lunchtime seminar in 'Understanding Risk' series, Talk/Oral Presentation, Paper, Cambridge, UK, Judge Business School, Cambridge, Invited, 2009-2010   
    • "Optimality and Diversifiability of Mean Variance and Arbitrage Pricing Portfolios ", World Econometric Congress , Lecture/Seminar, Refereed Paper, Shanghai, China, Econometric Society, 2009-2010   
    • "Supply, demand and monetary policy shocks in a Global New Keynesian", International linkages and the Macroeconomy:, Lecture/Seminar, Paper, Franfurt, Germany, European Central Bank, Invited, 2009-2010   
    • "Supply, Demand and Monetary Policy Shocks in a Multi-Country", Sixth annual Cambridge-Princeton Exchange, Lecture/Seminar, Paper, Cambridge Judge Business School, Cambridge Finance, Invited, 2009-2010   
    • "Supply, Demand and Monetary Policy Shocks in a Multi-Country New Keynesian Model", Conference to Honour Professor Adrian Pagan, Keynote Lecture, Paper, Sydney, Australia, ANU and NSW , Invited, 2009-2010   
    • "Supply, Demand and Monetary Policy Shocks in a Multi-Country New Keynesian Model", MMF 2010 Conference, 29 August - 5 September, Keynote Lecture, Paper, Cyprus, Money Macro and Finance Group, UK, Invited, 2009-2010   
    • "The Iranian Economy in the Twentieth Century", Talk/Oral Presentation, Los Angeles, Academy of Persian Physicians, Southern California, Invited, 2009-2010   
    • "The role of econometric evidence in finance – the scope and limits of econometrics", Conference of Professors of Accounting and Finance, Keynote Lecture, Manchester Conference Centre, University of Manchester, Association of Professors of Accounting and Financ, Invited, 2009-2010   
    • "The Spatial and Temporal Diffusion of House Prices in the UK", Lecture/Seminar, Paper, Cambridge, UK, Cambridge Finance Seminars, Invited, 2009-2010   
    • "Weak and Strong Cross Section Dependence and Estimation of Large Panels", Econometrics of Interactions, Lecture/Seminar, Paper, Montreal, Canada, Colloque CIRANO-CIREQ, Montreal, Canada, Invited, 2009-2010   
    • "Weak and Strong Cross Section Dependence and Estimation of Large Panels", SIRE ECONOMETRICS WORKSHOP, Lecture/Seminar, Paper, Edinburgh, Scotland, www.sire.ac.uk, Invited, 2009-2010   
    • "Cross Section Dependence in Panels", Royal Economic Society Conference, Talk/Oral Presentation, Paper, University of Guildford, Royal Economic Society, Invited, 2008-2009   
    • "Diagnostic Tests of Cross Section Independence for Nonlinear Panel Data Models", 15th International Conference on Panel Data, Talk/Oral Presentation, Paper, Bonn, Germany, University of Bonn, Invited, 2008-2009   
    • "Diagnostic Tests of Cross Section Independence for Nonlinear Panel Data Models", New York Econometrics IV, Talk/Oral Presentation, Paper, New York, Invited, 2008-2009   
    • "Forecasting Random Walks under Drift Instability", CIMF Workshop Forecasting under Model Instability, Talk/Oral Presentation, Paper, Trinity College, Cambridge, CIMF, Invited, 2008-2009   
    • "Forecasting Random Walks under Drift Instability", 4th Cambridge-Princeton Conference, Talk/Oral Presentation, Paper, Cambridge, Cambridge Finance, Invited, 2008-2009   
    • "Identification of new Keynesian Phillips Curves from a Global Perspective", Macroeconomics/Econometrics Conference, Talk/Oral Presentation, Paper, Birmingham, UK, University of Birmingham, Invited, 2008-2009   
    • "Infinite Dimensional VARs and Factor Models", International Conference on Factor Structures for Panel & Multivariate Time Series Date, Maastricht, Keynote Lecture, Paper, Maastricht, Maastricht University, Invited, 2008-2009   
    • "Iran's Macroeconomic Performance in the Global Context", Conference on Iran's Economy, Keynote Lecture, Paper, Urbana-Champaign, Illinois , University of Illinois at Urbana-Champaign, Invited, 2008-2009   
    • "Model Uncertainty and Risk Management Involving Market and Loan Portfolis", Pan European Conference, Talk/Oral Presentation, University of Cambridge, Invited, 2008-2009   
    • "Oil and the Iranian Economy", Conference on Iran and the International Relations of Oil, Talk/Oral Presentation, University of Cambridge, Invited, 2008-2009   
    • "Optimal Asset Allocation with Factor Models for Large Portfolios", Workshop on Advances in Portfolio Optimization, Talk/Oral Presentation, Imperial College Business School, Invited, 2008-2009   
    • "Supply Demand and Monetary Policy Shocks in a Global New Keynesian Model", Conference in honour of Professor Adrian Pagan, Talk/Oral Presentation, Sydney, Invited, 2008-2009   
    • "Surviving the Financial Crisis", Iranian Academics Symposium, Talk/Oral Presentation, London, Invited, 2008-2009   
    • "Surviving the Financial Crisis", The Crash: Real and Unreal Mondy, Talk/Oral Presentation, CRASSH, Cambridge, Invited, 2008-2009   
    • "The States' Oil Dependence-A Political Challenge", Negotiating with Iran Conference, Talk/Oral Presentation, St Anthony's College, Oxford, Invited, 2008-2009   
    • "Transmission of Financial and Real Shocks in the Global Economy Using the GVAR", University of Cambridge 4CMR Conference The Big Crunch and the Big Bang, Talk/Oral Presentation, University of Cambridge, Invited, 2008-2009   
    • "Weak and Strong Cross Section Dependence and Estimation of Large Panels", Econometric Society of Australia meeting, Lecture/Seminar, Paper, Canberra. Australian , Australian National University, Invited, 2008-2009   
    • ""Cross Section Dependence in Large Panels". ", Invited Speaker at the Joint German Statistical Meeting, Statistics Under One Umbrella, Talk/Oral Presentation, Paper, Bielefeld, Germany, German Statistical Society, Invited, 2006-2007   
    • "Firm Heterogeneity and Credit Risk Diversification", Keynote Speaker at C.R.E.D.I.T 2006 Conference on Risks in Small Business Lending, , Talk/Oral Presentation, Venice, Italy, Invited, 2006-2007   
    • "Forecasting in the presence model and observation window uncertainty", Invited Keynote Speaker at the 27th International Forecasting Symposium, New York, June 2007., Talk/Oral Presentation, New York, USA, Internation Forecasting Institute, Invited, 2006-2007   
    • "Forecasting using GVAR", Keynote Speaker at the New Developments in Dynamic Factor Modelling Workshop, Talk/Oral Presentation, Bank of England, London, Bank of England, 2006-2007   
    • "Forecasting with Global VARs", Invited Speaker at the FEMES 2007 (Far Eastern Meeting of the Econometric Society),, Talk/Oral Presentation, Taipei, Taiwan, July 2007., Econometric Society, Invited, 2006-2007   
    • "Infinite DimensionalVARs and Factor Models", Keynote Speaker at the Large Datasets and Dynamic Factor Models Workshop, Talk/Oral Presentation, Paper, London, England, Queen Mary, University of London, Invited, 2006-2007   
    • "Iranian Economy in a Global Context over the past 100 years", Invited Speaker at the Iran and Iranian Studies in the Twentieth Century Conference, , Talk/Oral Presentation, Paper, Toronto, Canada, University of Toronto and Iranian Studies Society, Invited, 2006-2007   
    • "Weak and Strong Cross Section Dependence", International Conference on Panel Data Econometrics,, Talk/Oral Presentation, Paper, Xiamen, China, Xiamen University, China, Invited, 2006-2007   

    Other Presentations
    • "A Two Stage Approach to Spatiotemporal Analysis with Strong and Weak Cross-Sectional Dependence", Lecture, University of California, Riverside, Riverside, CA, 2013-2014   
    • "Challenges and Options for Iran’s Economy–Possible Scenarios", Lecture, International Iranian Economic Association’s (IIEA) panel, Georgetown University, 2013-2014   
    • "Cross Section Dependence in Panel Data Models", Lecture, University of California, Riverside, 2013-2014   
    • "Debt, Inflation and Growth: A Robust Estimation of Long-Run Effects in Dynamic Panel Data Models", Lecture, RES External Seminar organized by the IMF Research Department, Washington, DC, 2013-2014   
    • "Debt, Inflation and Growth:Robust Estimation of Long-Run Effects in Dynamic Panel Data Models", Lecture, University of Economics, Prague, Czech Republic, 2013-2014   
    • "Global Economic Interdependencies", Lecture, Sharif University, Iran, 2013-2014   
    • "Iran’s Economy: Challenges and Opportunities", Lecture, Cambridge University Persian Society, Cambridge, UK, 2013-2014   
    • "Iran’s Economy: Challenges and Opportunities", Lecture, Iranian Studies Bilingual Lecture Series at UCLA, 2013-2014   
    • "Opportunities and Challenges in the Analysis of Large Data Sets", Lecture, University of Cambridge, Cambridge, UK, 2013-2014   
    • "Tests of Policy Ineffectiveness in Macroeconometrics", Lecture, Bank of Canada, Canada, 2013-2014   
    • "Tests of Policy Ineffectiveness in Macroeconometrics", Forum, BGE Summer Forum, Barcelona, Spain, 06/19/2014-06/20/2014  
    • "A Multi-Country Approach to Forecasting Output Growth using PMIs", Workshop, 8th ECB Workshop on Forecasting Techniques, Frankfurt, Germany, 06/13/2014-06/14/2014  
    • "Econometric Analysis of High Dimensional VARs Featuring a Dominant Unit", Seminar, AQR Research Group-IREA, University of Barcelona, Barcelona, Spain, 2010-2011   
    • "Supply, Demand and Monetary Policy Shocks in Multi-country New Keynesian Model", Seminar, Bank of England, London, UK, 2010-2011   
    • " Limits to Rational Expectations and Market Efficiency", Seminar, Einaudi Institute for Economics and Finance, Rome, 2009-2010   
    • " Supply Demand and Monetary Policy Shocks in a Multi-Country New Keynesian Model", Seminar, Banca d’Italia, Rome, 2009-2010   
    • "Aggregation in Large Dynamic Panels", Presented the 4th Annual Granger Lecture, Granger Centre, Nottingham University , Nottingham, UK, 2009-2010   
    • "Cross Section Dependence in Panel Data Models", Distinguished Speaker Seminar, School of Economics and Management, Aarhus University, Aarhus, Denmark, 2009-2010   
    • "Econometric Analysis of High Dimensional VARs Featuring a Dominant Unit", Seminar, Economics Department, Indiana University, Bloomington, Indiana, 2009-2010   
    • "Econometric Analysis of High Dimensional VARs Featuring a Dominant Unit ", Seminar, Economics Department, Emory University, Atlanta, 2009-2010   
    • "Forecast Combination across Estimation Windows", Seminar, Toulouse School of Economics, Toulouse, France, 2009-2010   
    • "Forecast Combinations Across Estimation Windows", Seminar, Stanford University, Stanford, CA, 2009-2010   
    • "Forecast Combinations Across Estimation Windows", Seminar, Vanderbilt University, Nashville, 2009-2010   
    • "Infinite Dimensional VARs and factor Models", Seminar , Economics Department, University of California, Riverside, 2009-2010   
    • "Optimality and Diversiability of Mean Variance and Arbitrage Pricing Portfolios", Seminar, Booth Business School, Chicago , 2009-2010   
    • "Optimality and Diversiability of Mean Variance and Arbitrage Pricing Portfolios", Seminar, University of California, Berkeley, Berkeley, CA, 2009-2010   
    • "Predictability of Asset Returns and the Efficient Market Hypothesis ", Seminar, Renmin University , Beijing, China, 2009-2010   
    • "The Spatial and Temporal Diffusion of House Prices in the UK ", Seminar, University of International Business and Economics , Beijing, China, 2009-2010   
    • "The Spatial and Temporal Diffusion of House Prices in the UK ", Seminar, Fudan University, Shanghai, China, 2009-2010   
    • "(a)Large Panels with spatial correlation and common factors; and Panel with non-stationary multifactor error structures, (b) Infinite-dimensional VARs and factor models, (c) Identification of new Keynesian Phillips Curves from a global perspective", Seminars, Institute of Advanced Studies, Vienna, 2008-2009   
    • "Surviving the Financial Crisis", Cambridge Education without Borders Financial Crisis Conference, 2008-2009   
    • "Testing Dependence Among Serially Correlated Multi-category Variables", Seminar, Hitotsubashi University, Tokyo, 2008-2009   
    • "Testing Dependence Among Serially Correlated Multi-category Variables", Seminar, Universidad Carlos III de Madrid, Spain, 2008-2009   
    • "Variable Selection and Inference for Multi-period Forecasting Problems", 4th London and Oxbridge Time Series Workshop (STICERDR505), London School of Economics, LSE, 2008-2009   
    • "Weak and Strong Cross Sectional Dependence and Estimation of Large Panels", Seminar, European University Institute, Florence, 2008-2009   
    • "Estimation and Identification of Phillips Curve from a Global Perspectives", Invited Speaker Seminar Programme,, European Central Bank , Frankfurt, 2006-2007   
    • "Exploring Growth in the Middle East", Seminar presentation, Centre for Islamic Studies, Oxford University, Oxford, England, 2006-2007   
    • "Firm Heterogeniety and Credit Risk", Research Seminar,, Austrian National Bank (OeNB) , Vienna, 2006-2007   
    • "Firm Heterogeniety and Credit Risk", Research Seminar Presentation, Bank for International Settlements (BIS), Basel, Switzerland, 2006-2007   
    • "Forecasting using GVAR", Seminar presentation, IMF, Washington, DC, 2006-2007   
    • "Global Macroeconometric Modeling", Seminar presentation, New School, New York, USA, 2006-2007   
    • "Global Macroeconometric Modelling", Seminar presentation, Glasgow University, Glasgow, Scotland, 2006-2007   
    • "Lumpy price adjustments", Seminar presentation, Banque de France, Paris, France, 2006-2007   
    • "Predicting under structural breaks", Seminar Presentation, New York University, New York, USA, 2006-2007   
    • "Testing dependence in multicategorical Data", Departmental Seminar, University of Southampton, Southampton, England, 2006-2007   
    • "Testing for unit root in panels", Seminar presentation, CASS Business School, London, England, 2006-2007   

    Publications


    Book
    • Nugent, J. B., Pesaran, H. H. (2006). Explaining Growth in the Middle East. Elsevier.
    • Pesaran, H. H., Garratt, T., Lee, K., Shin, Y. (2006). Global and National Macroeconometric Modelling: A Long Run Structural Approach. (not defined, Ed.). Oxford University Press.

    Book Chapter
    • Mohaddes, K., Pesaran, M. H. (2013). One Hundred Years of Oil Income and the Iranian Economy: A Curse or a Blessing?. Iran and the Global Economy: Petro Populism, Islam pp. pp.12-45. Routledge.
    • Pesaran, M. H. (2010). Predictability of Asset Returns and the Efficient Market Hypothesis. Taylor & Francis.
    • Breitung, J., Pesaran, H. H. (2008). Unit Roots and Cointegration in Panels. pp. 279-322. The Econometrics of Panel Data: Fundamentals and Recent Developments in Theory and Practice/Springer Publishers.
    • Hsiao, C., Pesaran, H. H. (2008). Random Coefficient Models. 3rd Ed. pp. 185-213. The Econometrics of Panel Data: Fundamentals and Recent Developments in Theory and Practice.
    • Pesaran, H. H., Kapetanios, G. (2007). Alternative Approaches to Estimation and Inference in Large Multifactor Panels: Small Sample Results with an Application to Modelling of Asset Returns, in Refinement of Econometric Estimation and Test Procedures. Cambridge: Cambridge University Press.
    • Pesaran, H. H., Weale, M. (2006). Survey Expectations. pp. 715-776.. North Holland - Handbook of Economic Forecasting,.
    • Pesaran, H. H., Schuerman, T., Treutler,, B. (2006). Global Business Cycles and Credit Risk, in The Risks of Financial Institutions,. pp. 419-473. NBER Volume, University of Chicago Press.

    Encyclopedia Article
    • Geweke, J., Joel Horowitz, J., Pesaran, H. H. (2008). Econometrics. (Steven N. Durlauf and Lawrence E. Blume., Ed.). 609-642.. Vol. 2. Palgrave MacMillan.
    • Dupleich Ulloa, R., Pesaran, H. H. (2008). Nonnested Hypotheses in the New Palgrave Dictionary. 107-114. Vol. 6. Palgrave MacMillan.

    Instructional Software
    • Pesaran, B., Pesaran, M. H. (2009). Time Series Econometrics using Microfit 5 ( http://www.oup.co.uk/microfit/ ). Oxford University Press.

    Journal Article
    • Pesaran, M. H., Smith, R. P. (2014). Signs of Impact Effects in Time Series Regression Models. Economic Letters. Vol. 122 (2), pp. pp 150-153. Science Direct
    • Pesaran, M. H., Chudik, A. (2014). Aggregation in large dynamic panels. Journal of Econometrics. Vol. 178 (2), pp. 273-285.
    • Esfahani, H. S., Mohaddes, K., Pesaran, M. H. (2014). AN EMPIRICAL GROWTH MODEL FOR MAJOR OIL EXPORTERS. Journal of Applied Econometrics. Vol. 29 (1), pp. 1-21.
    • Pesaran, M. H., Pick, A., Pranovich, M. (2013). Optimal forecasts in the presence of structural breaks. Journal of Econometrics. Vol. 177 (2), pp. 134-152.
    • Pesaran, M. H. (2013). Oil exports and the Iranian economy. The Quarterly Review of Economics and Finance. Vol. 53 (3), pp. 221-237.
    • Pesaran, M. H., Smith, L. V., Yamagata, T. (2013). Panel unit root tests in the presence of a multifactor error structure. Journal of Econometrics. Vol. 175 (2), pp. 94-115.
    • Chudik, A., Pesaran, M. H. (2013). Econometric Analysis of High Dimensional VARs Featuring a Dominant Unit. Econometric Reviews. Vol. 32 (5-6), pp. 592-649.
    • Chudik, A., Pesaran, M. H. (2013). Econometric Analysis of High Dimensional VARs Featuring a Dominant Unit. Econometric Reviews. Vol. 32 (5-6), pp. 592-649.
    • Koop, G., Pesaran, M. H., Smith, R. P. (2013). On Identification of Bayesian DSGE Models. Journal of Business & Economic Statistics. Vol. 31 (3), pp. 300-314.
    • Pesaran, M. H. (2012). On the interpretation of panel unit root tests. Economics Letters. Vol. 116 (2), pp. 545-546.
    • Kapetanios, G., Pesaran, M. H. (2012). Comment on ‘Fast sparse regression and classification’ by J.H. Friedman. International Journal of Forecasting. Vol. 28 (3), pp. 739-740.
    • Hsiao, C., Pesaran, M. H., Pick, A. (2012). Diagnostic Tests of Cross-section Independence for Limited Dependent Variable Panel Data Models. Oxford Bulletin of Economics and Statistics. Vol. 74 (2), pp. 253-277.
    • Cesa-Bianchi, A., Pesaran, M. H., Rebucci, A., Xu, T. (2012). China's Emergence in the World Economy and Business Cycles in Latin America. Economia. Vol. 12 (2), pp. 1-75. Economia
    • Pesaran, M. H., Pick, A., Timmermann, A. (2011). ) Variable Selection, estimation and inference for multi-period forecasting problems. Journal of Econometrics. Vol. 164 (1), pp. 173-187.
    • Pesaran, M. H., Holly, S., Yamagata, T. (2011). The Spatial and Temporal Diffusion of House Prices in the UK. Journal of Urban Economics. Vol. 69, pp. 2-23.
    • Pesaran, M. H., Chudik, A., Tosetti, A. (2011). Weak and Strong Cross Section Dependence and Estimation of Large Panels. The Econometrics Journal. Vol. 14, pp. C45-C90.
    • Pesaran, M. H., Chudik, A. (2011). Infinite Dimensional VARs and Factor Models. Journal of Econometrics. Vol. 163, pp. 4-22.
    • Pesaran, M. H., Tosetti, E. (2011). Large Panels with Common Factors and Spatial Correlations. Journal of Econometrics. Vol. 161, pp. 182-202.
    • Pesaran, M. H., Kapetanios, G., Yamagata, T. (2011). Panels with Nonstationary Multifactor Error Structures. Journal of Econometrics. Vol. 160 (2), pp. 326-348.
    • Dhyne, E., Fuss, C., Pesaran, M. H., Sevestre, P. (2011). Lumpy Price Adjustments: A Microeconometric Analysis. Journal of Business Economics and Statistics. Vol. 29 (4), pp. 529-540.
    • Pesaran, M. H., Pick, A. (2011). Forecast Combination Across Estimation Windows. Journal of Business & Economic Statistics. Vol. 29 (2), pp. 307-318.
    • Pesaran, M. H., Smith, R. P. (2011). Beyond the DSGE Straitjacket. The Manchester School. Vol. 79 (s2), pp. 5-16.
    • Pesaran, H. H., Pick, A., Timmermann, A. (2010). Variable Selection and Inference for Multi-period Forecasting Problems. Journal of Econometrics.
    • Pesaran, H. H., Pesaran, B. (2010). Conditional Volatility and Correlations of Weekly Returns and the VaR Analysis of 2008 Stock Market Crash,. Economic Modelling.
    • Dhyne, E., Fuss, C., Pesaran, H. H., Sevestre, P. (2010). Lumpy Price Adjustments: A Microeconometric Analysis. Journal of Business Economics and Statistics.
    • Pesaran, H. H., Holly, S., Yamagata, T. (2010). A Spatio-Temporal Model of House Prices in the US. Journal of Econometrics. Vol. 158, pp. 160-173.
    • Pesaran, H. H., Kapetanios, G., Yamagata, T. (2010). Panel with Nonstationary Multifactor Error Structures. Journal of Econometrics.
    • Pesaran, H. H., Tosetti, E. (2010). Large Panels with Common Factors and Spatial Correlations. Journal of Econometrics.
    • Pesaran, H. H., Pick, A. (2010). Forecast Combination across Estimation Windows. Journal of Business Economics and Statistics..
    • Holly, S., Pesaran, M. H., Yamagata, T. (2010). Spatial and Temporal Diffusion of House Prices in the UK. Journal of Urban Economics..
    • Chudik, A., Pesaran, M. H., Tosetti, E. (2010). Weak and Strong Cross Section Dependence and Estimation of Large Panels. The Econometrics Journal..
    • Chudik, A., Pesaran, M. H. (2010). Infinite Dimensional VARs and Factor Models. Journal of Econometrics.
    • Pesaran, M. H., Smith, V., Yamagata, T. (2010). Panel Unit Root Tests in the Presence of a Multifactor Error Structure.
    • Pesaran, H. H., Smith, R. P., Hvozdyk, L., Yamagata, T. (2009). Pairwise Tests of Purchasing Power Parity. Econometric reviews. Vol. 28, pp. 495-521.
    • Pesaran, H. H., Schleicher, C., Zaffaroni, P. (2009). Model Averaging in Risk Management with an Application to Futures Markets. Journal of Empirical Finance. Vol. 16 (2), pp. 280-305.
    • Pesaran, H. H., Timmermann, A. (2009). Testing Dependence Among Serially Correlated Multi-Category Variables. Journal of The American Statistical Association. Vol. 104 (485), pp. 325-337.
    • Pesaran, H. H., Esfahani, H. S. (2009). Iranian Economy in the Twentieth Century: A Global Perspective. Iranian Studies. Vol. 42 (2), pp. 177-211.
    • Pesaran, H. H., Smith, R. P., Yamagata, T., Hvozdyk, L. (2009). Pairwise Tests of Purchasing Power Parity. Econometric Reviews. Vol. 28, pp. 495-521.
    • Pesaran, H. H., Dees, S., Smith, L. V., Smith, R. P. (2009). Identification of New Keynesian Phillips Curves from a Global Perspective. Journal of Money, Credit and Banking. Vol. 41 (7), pp. 1481-1502.
    • Assenmacher-Wesche,, K., Pesaran, M. H. (2009). A VECX* Model of the Swiss Economy. Economic Studies, Swiss National Bank. (6)
    • Pesaran, M. H., Schuermann, T., Smith, V. (2009). Forecasting Economic and Financial Variables with Global VARs. International Journal of Forecasting,. Vol. 25, pp. 642-675.
    • Pesaran, H. H., Yamagata, T. (2008). Testing Slope Homogeneity in Large Panels. Journal of Econometrics. Vol. 142, pp. 50-93.
    • Pesaran, H. H., Yagamata, T., Ulla, A. (2008). A Bias-Adjusted LM Test of Error Cross Section Independence. Econometrics Journal. Vol. 11, pp. 105-127.
    • Pagan, A., Pesaran, H. H. (2008). Econometric Analysis of Structural Systems with Permanent and Transitory Shocks. Journal of Economic Dynamics and Control. Vol. 32 (10), pp. 3376-3395.
    • Assenmacher-Wesche, K., Pesaran, M. H. (2008). Forecasting the Swiss Economy Using VECX* Models: An Exercise in Forecast Combination Across Models and Observation Windows. National Institute Economic Review. Vol. 203, pp. 91-108.
    • Pesaran, H. H., Hanson, S. G., Schuermann, T. (2008). Firm Heterogeneity and Credit Risk Diversification. Journal of Empirical Finance. Vol. 15 (4), pp. 583-612.
    • Pesaran, H. H., Pagan, A. (2008). Econometric Analysis of Structural Systems with Permanent and Transitory Shocks. Journal of Economic Dynamics and Control. Vol. 32 (10), pp. 3376-3395.
    • Pesaran, H. H., Yamagata, T. (2008). Testing Slope Homogeneity in Large Panels. Journal of Econometrics. Vol. 142, pp. 50-93.
    • Pesaran, H. H., Ullah, A., Yamagata, T. (2008). A Bias-Adjusted LM Test of Error Cross Section Independence. Journal of Econometrics. Vol. 142, pp. 50-93.
    • Pesaran, H. H. (2007). What if the UK or Sweden had joined the Euro In 1999? An Empirical Evaluation Using A Global VAR. International Journal of Finance and Economics. Vol. 12 (1), pp. 55-87.
    • Pesaran, H. H., Timmermann, A. (2007). Selection of Estimation Window in the Presence of Breaks. Journal of Econometrics. Vol. 137, pp. 134-161.
    • Pesaran, H. H., Pick, A. (2007). Econometric Issues in the Analysis of Contagion. Journal of Economic Dynamics and Control. Vol. 31 (4), pp. 1245-1277.
    • Pesaran, H. H. (2007). A Pair-Wise Approach to Testing for Output and Growth Convergence. Journal of Econometrics. Vol. 138, pp. 312-355.
    • Pesaran, H. H., Dees, S., Di Mauro, F., Smith, V. (2007). Exploring the International Linkages of the Euro Area: a Global VAR Analysis. Journal of Applied Econometrics. Vol. 22 (1), pp. 1-38.
    • Pesaran, H. H., Pettenuzzo, D., Timmermann, A. (2007). Learning, Structural Instability and Present Value Calculations. Econometric Reviews. Vol. 26, pp. 253-288.
    • Pesaran, H. H. (2007). A Simple Panel Unit Root Test in the Presence of Cross-Section Dependence. Journal of Applied Econometrics. Vol. 22 (2), pp. 265-312.
    • Pesaran, H. H., Dees, S., Holly, S., Smith, V. (2007). Long Run Macroeconomic Relations in the Global Economy. Economics - The Open-Access, Open-Assessment E-Journal. Vol. 1 (3)
    • Pesaran, H. H., Smith, R. P. (2006). Macroeconomic Modelling with a Global Perspective. Manchester School. Vol. 74, pp. 24-49.
    • Pesaran, H. H. (2006). Estimation and Inference in Large Heterogeneous Panels with Multifactor Error Structure. Econometrica/Blackwell. Vol. 74 (4), pp. 967-1012.
    • Pesaran, H. H. (2006). Small sample properties of forecasts form autoregressive models under structural breaks. Journal of Econometrics/Elsevier. pp. p.183-217.
    • Pesaran, H. H., Pettenuzzo, D., Timmermann, A. (2006). Forecasting Time Series Subject to Multiple Structural Breaks. Review of Economic Studies. Vol. 74 (4), pp. 1057-1084.
    • Pesaran, H. H., Schuermann, T., Treutler, B., Weiner, S. M. (2006). Macroeconomic Dynamics and Credit Risk: A Global Perspective. Journal of Money, Credit and Banking,. Vol. 38 (5), pp. 1211-1262 .
    • Pesaran, H. H., Timmermann, A. (2005). Real Time Econometrics. Econometric Theory/Cambridge University Press. pp. p.212-231.
    • Pesaran, H. H. (2005). Estimation and Interference in Short Panel Vector Autoregressions with Unit Roots and Contegration. Econometric Theory/Cambridge University Press. pp. p.795-837.
    • Pesaran, H. H., Coe, P., Vahey, S. (2005). The Cost Effectiveness of the UK's Sovereign Debt Portfolio. Oxford Bulletin of Economics and Statistics. Vol. 67, pp. 467-495.
    • Pesaran, M. H., Smith, R. J. (1990). A unified approach to estimation and orthogonality tests in linear single-equation econometric models. Journal of Econometrics. Vol. 44, pp. 41-66.
    • Pesaran, M. H., Lee, K., Pierse, R. G. (1990). Testing for aggregation bias in linear models. Economic Journal. Vol. 100 ((supplement)), pp. 367-390.
    • Pesaran, M. H. (1990). An econometric model of exploration and extraction of oil in the UK Continental Shelf. Economic Journal. Vol. 100, pp. 367-390.
    • Pesaran, M. H., Pierse, R. G., Kumar, M. (1989). Econometric analysis of aggregation in the context of linear prediction models. Econometrica. Vol. 57, pp. 861-888.
    • Pesaran, M. H. (1989). Consistency of short-term and long-term expectations. Journal of International Money and Finance. Vol. 8, pp. 511-516.
    • Pesaran, M. H., Pierse, R. G. (1989). A proof of the asymptotic validity of a test for perfect aggregation. Economics Letters. Vol. 30 (1), pp. 41-47.
    • Pesaran, M. H. (1988). On the policy ineffectiveness proposition and a Keynesian alternative: a rejoinder. Economic Journal. Vol. 98, pp. 504-508.
    • Pesaran, M. H., Hall, A. D. (1988). Tests of non-nested linear regression models subject to linear restrictions. Economics Letters. pp. 341-348.
    • Pesaran, M. H. (1988). The role of theory in applied econometrics. Economic Record. pp. 336-339.
    • Pesaran, M. H. (1987). Global and partial non-nested hypotheses and asymptotic local power. Econometric Theory. pp. 69-97.
    • Pesaran, M. H., McAleer, M. (1986). Statistical inference in non-nested econometric models. Applied Mathematics and Computation. pp. 271-311.
    • Pesaran, M. H., Smith, R. P. (1985). Evaluation of macroeconometric models. Economic Modelling. Vol. 2, pp. 125-134.
    • Pesaran, M. H., Smith, R. P., Yeo, S. (1985). Testing for structural stability and predictive failure: a review. Manchester School. pp. 280-295.
    • Pesaran, M. H. (1985). Formation of inflation expectations in British manufacturing industries. Economic Journal. Vol. 95, pp. 948-975.
    • Pesaran, M. H., Evans, R. A. (1984). Inflation, capital gains and UK personal savings: 1953-81. Economic Journal. Vol. 94, pp. 237-257.
    • Pesaran, M. H. (1984). Asymptotic power comparisons of tests of separate parametric families by Bahadur's approach. Biometrika. pp. 245-252.
    • Pesaran, M. H. (1984). Macroeconomic policy in an oil-exporting economy with foreign exchange controls. Economica. Vol. 51, pp. 253-270.
    • Pesaran, M. H., Godfrey, L. (1983). Tests of non-nested regression models: small sample adjustments and Monte Carlo evidence. Journal of Econometrics. Vol. 21, pp. 133-154.
    • Pesaran, M. H., Hausman, J. (1983). The J-test as a Hausman specification test. Economics Letters. Vol. 12, pp. 277-281.
    • Pesaran, M. H. (1983). A note on the maximum likelihood estimation of regression models with first-order moving average errors with roots in the unit circle. Australian Journal of Statistics. Vol. 25, pp. 442-448.
    • Pesaran, M. H. (1982). On the Comprehensive method of testing non-nested regression models. Journal of Econometrics. pp. 263-274.
    • Pesaran, M. H. (1982). A critique of the proposed tests of the natural rate/rational expectations hypothesis. Economic Journal. Vol. 92, pp. 529-554.
    • Pesaran, M. H. (1982). Comparison of local power of alternative tests of non-nested regression models. Econometrica. Vol. 50, pp. 1287-1305.
    • Pesaran, M. H. (1982). The system of dependent capitalism in pre- and post- revolutionary Iran. International Journal of Middle East Studies. Vol. 14, pp. 501-522.
    • Pesaran, M. H. (1981). Identification of rational expectations models. Journal of Econometrics. pp. 375-398.
    • Pesaran, M. H. (1981). Pitfalls of testing non-nested hypotheses by the Lagrange multiplier method. Journal of Econometrics. pp. 323-331.
    • Walton, T. (1980). Economic development and revolutionary upheavals in Iran. Cambridge Journal of Economics. pp. 271-292.
    • Pesaran, M. H., Deaton, A. (1978). Testing non-nested, non-linear regression models. Econometrica. Vol. 46, pp. 677-694.
    • Pesaran, M. H., Lavi, E. A. (1977). Accountancy under inflationary conditions. The Auditor.
    • Pesaran, M. H., Llewellyn, G. (1976). Determinants of United Kingdom import prices - a note. Economic Journal. Vol. 86, pp. 315-320.
    • Pesaran, M. H. (1974). On the general problem of model selection. Review of Economic Studies. Vol. 41, pp. 153-171.
    • Pesaran, M. H. (1973). The small sample problem of truncation remainders in the estimation of distributed lag models with auto-correlated errors. International Economic Review. Vol. 14, pp. 120-131.
    • Pesaran, M. H. (1973). An alternative econometric approach to the permanent income hypothesis: an international comparison: a comment. Review of Economics and Statistics. pp. 259-261.
    • Pesaran, M. H. (1973). The exact maximum likelihood estimation of a regression equation with first order moving-average errors. Review of Economic Studies. Vol. 40, pp. 529-535.

    Other
    • Pesaran, M. H. (1985). Comment on P.A.V.B. Swamy, R.K. Conway and P. von zur Muehlen, ‘The foundations of econometrics - are there any?’. Econometric Reviews.
    • Pesaran, M. H. (1983). Comment on the paper by J.G. MacKinnon, ‘Model specification tests against non-nested alternatives’. Econometric Reviews.

    Working Paper
    • Bailey, N., Pesaran, M. H., Smith, L. V. (2014). A Multiple Testing Approach to the Regularisation of Large Sample Correlation Matrices. CESifo Working Paper. CESifo Working Paper #4834
    • Hayakawa, K., Pesaran, M. H., Smith, L. V. (2014). Transformed Maximum Likelihood Estimation of Short Dynamic Panel Data Models with Interactive Effects. CESifo Working Paper. CESifo Working Paper No.4822
    • Chudik, A., Pesaran, M. H. (2014). Theory and Practice of GVAR Modeling. CESifo Working Paper. CESifo Working Paper No. 4807
    • Cesa-Bianchi, A., Pesaran, M. H., Rebucci, A. (2014). Uncertainty and Economic Activity: A Global Perspective. CESifo Working Paper. CESifo Working Paper No. 4736
    • Bailey, N., Holly, S., Pesaran, M. H. (2014). A Two Stage Approach to Spatiotemporal Analysis with Strong and Weak Cross-Sectional Dependence. CESifo Working Paper. CESifo Working Paper #4592
    • Chudik, A., Mohaddes, K., Pesaran, M. H., Raissi, M. (2013). Debt, Inflation and Growth - Robust Estimation of Long-Run Effects in Dynamic Panel Data Models. CESifo Working Paper. CESifo Working Paper No. 4508
    • Pesaran, M. H., Chudik, A. (2013). Large Panel Data Models with Cross-Sectional Dependence: A Survey. CESifo Working Paper. CESifo Working Paper No. 4371
    • Chudik, A., Pesaran, M. H. (2013). Common Correlated Effects Estimation of Heterogeneous Dynamic Panel Data Models with Weakly Exogenous Regressors. CESifo Working Paper. CESifo Working Paper No. 4232
    • Pesaran, M. H., Chudik, A. (2010). Econometric Analysis of High Dimensional VARs Featuring a Dominant Unit. CESifo Working Papers No. 3055.
    • Dees, S., Pesaran, M. H., Smith, V., Smith, R. (2010). Supply, Demand and Monetary Policy Shocks in a Multi-Country New Keynesian Model. CESifo Working Papers No. 3081.
    • Hsiao, C., Pesaran, H. H., Pick, A. (2009). Diagnostic Tests of Cross Section Independence for Nonlinear Panel Data Models. CESifo Working Papers, No. 1984.
    • Pesaran, M. H. (2009). Oil Exports and the Iranian Economy. CESifo Working Papers No. 2843, IZA Working Paper No. 4537.
    • Pesaran, M. H., Zaffaroni, P. (2009). Optimality and Diversifiability of Mean Variance and Arbitrage Pricing Portfolios. CESifo Working Papers No. 2857.
    • Holly, S., Pesaran, H. H., Yamagata, T. (2006). A Spatio-Temporal Model of House Prices in the US. CESifo Working Papers, No. 1826, October 2006, IZA Discussion Paper, No.2338, September 2006 and CWPE, No. 0654, 2006..


    Honors and Awards

    • Honorary Doctorate, University of Maastricht, 2013-  
    • USC Distinguished Professor, John E. Elliott Distinguished Chair in Economics and Professor of Economics, 2013-  
    • Research Fellow, CESifo (Center for Economic Studies and ifo Institute for Economic Research), 2000-  
    • Fellow, Institute for the study of Labour (IZA), Bonn, 1999-  
    • Fellow, the British Academy, 1998-  
    • Fellow of Econometric Society, 1989-  
    • USC Endowed Chair, John Elliott Chair in Economics, 8/16/2005-  
    • Honorary Doctorate, University of Goethe, Frankfurt, 2008  
    • Best Paper Award, International Journal of Forecasting, Awarded 2007, 2006-2007   
    • Elected as a Council member of the Royal Economic Society, 2007., 2006-2007   
    • Best Paper Award 2002-2004, Econometric Reviews, awarded in 2005, 2004-2005   
    • Honorary Degree, Doctor of Letters honoris causa, awarded by Salford University, 1993  
    • Honorary Degree, Doctor of Letters honoris causa, awarded by Salford University, 1993, 1992-1993   
    • Royal Economic Society Prize, 1992  
    • Fellow, Journal of Econometrics, 1990  
    • George Sell Prize, The Institute of Petroleum, London, for research on the exploration and development of oil in the North Sea, 1990  

    Service to the University

    Administrative Appointments
    • Director of Center for Applied Financial Economics, 2012-  
    • Director, USC College Institute for Economic Policy Research, 2004-2006  
    Committees
    • Member, University Committee on Appoitments, Promotion and Tensure, 2012-2013   

    Service to the Profession


    Conferences Organized
    • Scientific Committee Member and Organizing Committee Member, First Annual International Association for Applied Econometrics Conference, Queen Mary College, London, UK, 2013-2014   
    • Co-Organizer, Cross-sectional Dependence in Panel Data Models, Cambridge, UK, 2012-2013   
    • Organizing Committee member, Conference on MENA Economies, Istanbul, Turkey, 2012-2013   
    • Co-organiser , Global Crisis and Latin American Economies, USC, Fall 2012   
    • Scientific Programme Committee Member, 6th International Conference on Computational and Financial Econometrics, Oviedo, Spain, 2011-2012   
    • Scientific Committee Member, Iran Economy Conference, SOAS University, London, Fall 2011   
    • Co-Chair of the program Committee, Conference on Iran's Economy, University of Chicago, Discussed two papers, made a presentation and chaired one of the sessions., 2010-2011   
    • Co-Organizer, Advances in Development Economics, USC, in honour of Jeff Nudgent, Spring 2011   
    • Chair of the Organizing Committee, Iranian Economy at a Crossroads, USC, Keynote speaker, presented a paper and chaired many sessions, 2009-2010   
    • Co-organizer, CIMF Workshop, Forecasting under Model Instability, Trinity College, Cambridge, 2008-2009   
    • Co-organizer, Conference on Iran's Economy, University of Illinois at Urbana-Champaign, 2008-2009   
    • Scientific Committee and Local Organizing Committee member, The Thirteen Annual Conference on Panel Data, Cambridge, England 2006., Cambridge, England, 2006-2007   
    • Scientific Programme Committee member, the International Workshop on Computational and Financial Econometrics, Geneva, Switzerland., 2006-2007   

    Editorships and Editorial Boards
    • Editorial Board Member, Review of Middle East Economics and Finance, 2007-  
    • Advisory Editor, The Journal of the Korean Economy, 2001-  
    • Advisory Board member, Journal of Iranian Research and Analysis, 2000-  
    • Associate Editor, Journal of Economic Dynamics and Control, 1995-  
    • Advisory Board member, Journal of Economic Surveys, 1995-  
    • Founding Editor, Journal of Applied Econometrics, 1986-  
    • Associate Editor, Econometric Theory, 1984-1987  
    • Associate Editor, Econometrica, 1984-1985  

    Professional Memberships
    • Research Fellow, CESifo (Center for Economic Studies and ifo Institute for Economic Research, 2000-  
    • Research Fellow, Institute for the Study of Labour (IZA), Bonn, 1999-  
    • Fellow of the British Academy, 1998-  
    • Fellow, Journal of Econometrics, 1990-  
    • Fellow of Econometric Society, 1989-  

    Media, Alumni, and Community Relations
    • Interviewed by Bloomberg/Newsroom on October 9, 2013., 2013-2014   
    • Interviewed on the "Marz Haye Danesh-MHD" program on KIRN 670AM. Aired Sunday, October 13, 2013., 2013-2014   
    • Interviews on UK and Iranian economies with BBC, Voice of America (http://ir.voanews.com/media/video/1523466.html?z=1566&zp=4), Bloomberg, 2012-2013   
    • Presented the faculty address at USC Dornsife Torchbearer Luncheon, November 8, 2012. http://dornsife.usc.edu/torchbearer/, 2012-2013   
    • Took part in a Panel Discussion on "Saving the Euro and the EU: Can it Be Done?", at the Pacific Council Meeting on the Changing Global Balance, November 9 – 10, Santa Monica, California. http://www.pacificcouncil.org/mw2012, 2012-2013   
    • Took part in the Panel on USC Global Conversation in London, October 9, 2012 http://uscinlondon.usc.edu/schedule/ http://www.youtube.com/watch?v=slETLGRfMAQ, 2012-2013   
    • Appeared on Chinese CCTV-2 "Feast of Thoughts" featuring the World Econometric Congress and its distinquished guests., 2009-2010   
    • Public Lectures on Iranian Economy in Persian and English at UCLA , 2009-2010   
    • TV Interview with Voice of America in Persian, 2009-2010   
    • Various Interviews on Iranain and World Economy with BBC Persian TV, 2009-2010   
    • Interview on Global Economy with Phoenix Satellite TV, 2008-2009   


  • University of Southern California
  • Department of Economics
  • Phone: (213) 740-8335
  • Department Chair: Geert Ridder (213) 740-7432