I discuss the idea of translating ingredients of conformal field theory into the language of hierarchies of integrable differential equations. Primary conformal fields are mapped into (differential or matrix) operators living on the phase space of the hierarchy, whereas operator insertions of, e.g., a current or the energy-momentum tensor, become certain vector fields on the phase space and thus acquire a meaning independent of a given Riemann surface. A number of similarities are observed between the structures arising on the hierarchy and those of the theory on the world-sheet. In particular, there is an analogue of the operator product algebra with the Cauchy kernel replaced by its “off-shell” hierarchy version. Also, hierarchy analogues of certain operator insertions admit two (equivalent, but distinct) forms, resembling the “bosonized” and “fermionized” versions respectively. As an application, I obtain a useful reformulation of the Virasoro constraints of the type that arise in matrix models, as a system of equations on dressing (or Lax) operators (rather than correlation functions, i.e., residues or traces). This also suggests an interpretation in terms of a 2D topological field theory, which might be extended to a correspondence between Virasoro-constrained hierarchies and topological theories.
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