How to identify statements causing hard parses

I have seen rise in CPU utilization on my system (oracle10.2.0.5). Statspack refects very high hard parse activity. In a 1 hour time, it show 47000 for parse count. Normally I look at v$sql or v$sqlarea to look for similar statements - but there are only a few in the range of a hundred or more - and only 16000 rows in v$sqlarea.  Is v$sqlare or v$sql getting flushed? How can I identify where the hard parsing is happening? Thanks

From statspack session....

parse count (failures)                         3,577            1.0          0.0

parse count (hard)                            47,266           13.2          0.3

parse count (total)                        2,310,375          643.4         16.8

parse time cpu                                78,765           21.9          0.6

parse time elapsed                           121,814           33.9          0.9