Hashem Pesaran is a Professor of Economics at the University of Cambridge. Previously, he was head of the Economic Research Department of the Central Bank of Iran and Under-Secretary to the Ministry of Education, Iran. Professor Pesaran is the founding editor of the Journal of Applied Econometrics, a Fellow of the British Academy and a Fellow of the Econometric Society. He is an expert on the economics of oil and the Middle East. He has written or co-authored more than ten books. His research interests included real time economic modelling, econometric analysis and modelling credit risk.