We give a new non-isospectral extension to 2 + 1 dimensions of the Boussine
sq hierarchy. Such a non-isospectral extension of the third-order scatterin
g problem psi(xxx) + U psi(x) + (V - lambda)psi = 0 has not been considered
previously. This extends our-previous results on one-component hierarchies
in 2 + 1 dimensions associated to third-order non-isospectral scattering p
roblems. We characterize our entire (2 + I)-dimensional hierarchy and its l
inear problem using a single partial differential equation and its correspo
nding non-isospectral scattering problem. This then allows an alternative a
pproach to the construction of linear problems for the entire (2 + 1)-dimen
sional hierarchy. Reductions of this hierarchy yield new integrable hierarc
hies of systems of ordinary differential equations together with their unde
rlying linear problems; In particular, we obtain a 'fourth Painleve hierarc
hy', i.e. a hierarchy of ordinary differential equations having the fourth
Painleve equation as its first member. We also obtain a hierarchy having as
its first member a generalization of an equation defining a new transcende
nt due to Cosgrove.