New integrable hierarchy of ordinary differential equations is presented. This hierarchy is shown to generalize the P 2 hierarchy, while on the other hand, this hierarchy gives a special case of the third Painlevé equation. The isomonodromic linear problem is used to find this new hierarchy. The Painlevé approach to investigate the fourth-order ordinary differential equation of this hierarchy is applied.
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Nikolay A. Kudryashov (2001) studied this question.