Cheng Hsiao is professor of economics at the University of Southern California. His research includes theoretical and applied econometrics with focus on panel data, utility demand analysis, measurement of policy impacts, China’s financial reform and infrastructural investment, etc. He has published more than 150 academic papers in prestigious international journals. He is also the author of four editions of the classic Analysis of Panel Data book. He is an academician of Academia Sinica, a fellow of the Econometric Society, Journal of Econometrics, International Association for Applied Econometrics, and Modelling and Simulation Society of Australia and New Zealand.