This volume presents a selection of papers offered to Professor Peter C. B. Phillips by a set of his past students. The collection is somewhat unusual in that it is not offered on the occasion of his reaching a particular venerable age or having decided to retire but rather in recognition of his extraordinary and continuing achievements as a teacher and mentor.

Peter Phillips is universally recognized as one of the great econometricians in the history of our profession. His work on finite sample theory, asymptotic expansions, nonstationary and long-memory time series, and the interface of Bayesian and frequentist methods, to name only a subset of the areas of his scholarship, evidences an extraordinary combination of mathematical analysis of the highest order as well as a level of creativity and insight reflecting that touch of genius apparent in even the most casual interactions with Peter. His more-than-170 published research articles and 30 current working papers attest to a coupling of brilliance with incredible energy.

It is all the more remarkable, then, that Peter has been one of the truly great teachers of aspiring economists. In the last 23 years, he has been a primary advisor to no fewer than 45 graduate students. His students have obtained positions throughout the world and at many of the leading research institutions. Peter's indirect contributions to economics via this college of econometricians would by itself earn him a distinguished place in the annals of scholarship.