Torben M. Andersen is Professor at the Department of Economics and Business Economics, Aarhus University. He holds an M.Sc. from London School of Economics (1981), a Lic. Oecon from Aarhus University (1994), and a PhD from CORE, Université Catholique de Louvain, Belgium (1986).He is a fellow at international research centres, including CEPR (London), IZA (Bonn) and CESifo (Munich). He has been actively involved in policy in Denmark, the other Nordic countries, and the EU Commission. He has been the chairman of the Danish Economic Council and the Welfare Commission, and vice-chair of the Swedish Fiscal Policy Council.