Department of Economics and Business Economics

Torben M. Andersen


Torben M. Andersen


Professor, lic.oecon., PhD

Member of the Economics Section

Education: MSc 1981, lic.oecon. 1984, PhD 1986
Position: Professor, 1989
Research Secretaries: Mette Vad Andersen and Susan Stilling

CV and list of publications 

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).

His primary research interests are the economics of the Nordic welfare model, public economics, labour economics and the economics of pensions. Within these fields, he has published extensively in internationally recognized journals as well as books.

Torben M. Andersen is a fellow at international research centres, including CEPR (London), IZA (Bonn) and CESifo (Munich).

He has been actively involved in policy advise in Denmark, the other Nordic countries, a number of other countries as well as the EU Commission. Among other activities, he has been the chairman of the Danish Economic Council and the Welfare Commission, and vice-chair of the Swedish Fiscal Policy Council. Currently he is among other things member of the Danish Systemic Risk Council, chairman of the Economic Council for Greenland, member of the Economic Policy Council of Finland and the European Economic Advisory Group (Munich).


  • Economics of the welfare state
  • Public Economics
  • Labour Economics
  • Pension Economics

Research Interests:

  • Scandinavian welfare model
  • Labour market policy
  • Pensions and fiscal sustainability
  • Globalization

Recent publications (since 2014) – for full list, see CV (link above)

To appear

The intergenerational welfare state and the rise and fall of pay-as-you-go pensions, joint with Joydeep Bhattacharya, Economic Journal (to appear).


  • Does the public sector implode from Baumol’s cost disease? Economic Inquiry, 54(2), 810-18.
  • Longevity, growth and intergenerational equity: The deterministic case, joint with Marias Gestsson, Macroeconomic Dynamics, 20(4), 985-1021.
  • Incentives versus insurance in the design of tax-financed unemployment insurance, International Journal of Economic Theory, 12(2), 127- 150.
  • Automatic stabilizers – the intersection of labour market and fiscal policies, IZA Journal of European Labor Studies, 5:11

Policy reports:

  • Economic Policy Council Report 2015, Finnish Economic Council, Helsinki, January 2016. (joint author).
  • The EEAG Report on the European Economy, 2016, European Economic Advisory Group, Munich, medforfatter.


  • Beskrivende Dansk Økonomi, sammen med Jan Bentzen, Niels Westergård -Nielsen og Valdemar Smith,Forlaget Handelsvidenskab.
  • Kommentarer til Dansk Økonomi Foråret 2016, i ”Dansk Økonomi Foråret 2016”, Det Økonomiske Råd.
  • The economic perspective of getting everybody on board, in “Perspective on skills –an anthology on informally acquired skills in Greenland” , A Greenland Perspective publication.


  • Reform Capacity and macroeconomic performance in the Nordic Countries, (eds.), joint with U. Michael Bergman and Svend E. Hougaard Jensen, Oxford University Press.
  • The Danish flexicurity labour market during the great recession, De Economist, 163, 473-490.
  • A flexicurity labor market during recession, IZA World of Labor, 2015:173.
  • Welfare reform, International Encyclopedia of the Social & Behavioral Sciences (Second Edition), 2015, 515-520.
  • Robustness of the Danish Pension System, CESifo DICE Report 13(2)25-30.
  • The Nordic welfare model and welfare services – Can we maintain acceptable standards? Mauno Koivisto Lecture 2014, Research on Finnish Society, 2015(8), 85-96.

Policy reports:

  • The welfare state and economic performance, Bilaga 4, Långtidsutredningen, Sveriges Regering, Statens Offentliga Utredningar, SOU 2015:53.
  • Economic Policy Council Report 2014, Finnish Economic Council, Helsinki, January 2015. (joint author)
  • Grønlands Økonomi 2015, Rapport fra Grønlands Økonomisk Råd, Nuuk (medforfatter)
  • Human Capital, Inequality and Growth, Fellowship Initiative 2014-2015: Growth, integration and structural convergence revisited; Discussion Paper 007, 2015
  • Pensionskommissionen, Det danske pensionssystem – internationalt anerkendt, men ikke problemfrit, København. (medforfatter)
  • Sustainable Governance Indicators, 2015 Denmark Report, joint with Finn Laursen, Bertelsmann Stiftung.


  • Kommentarer til Dansk Økonomi Foråret 2015, i ”Dansk Økonomi Foråret 2015”, Det Økonomiske Råd.
  • Kommentarer til Dansk Økonomi Efteråret 2015, i ”Dansk Økonomi Efteråret 2015”, Det Økonomiske Råd.
  • Flexicurity, dansk økonomi og den økonomiske krise (Sammen med Michael Rosholm og Michael Svarer og), i T. Bredgaard og P.K.Madsen, Dansk Flexicurity – Fleksibilitet og sikkerhed på arbejdsmarkedet,Hans Reitzels Forlag.
  • Ulighedens skjulte årsager, Ræson, 01/15, 8-13.
  • The Danish pension system: properties, outcomes and challenges, Paper for the conference Financiamineto de las Pensiones, CLAPES UC, Chile, 2015,
  • The Greenlandic Economy – Structure and Prospects, Working Paper 2015-14, Department of Economics, Aarhus University.


  • A dynamic-effiiency rationale for public investment in the health of young, Canadian Journal of Economics, Joint with Joydeep Bhattacharya.
  • Intergenerational redistribution and risk sharing with changing longevity, Journal of Economics, 111:1-27.
  • Durable consumption, saving and retirement, Journal of Population Economics, 27, 825-40,joint with Mikkel Hermansen.
  • Tuning unemployment insurance to the business cycle, IZA World of Labour, 2014:54.
  • Pension reforms: Longevity and retirement, in T. Valkonen and V. Vihriälä, The Nordic model – Challenged but capable of reform, joint with N. Käättänen and T. Valkonen. Tema Nord 2014:531.
  • Taxation – Financing the welfare state in a more globalized world, in T. Valkonen and V. Vihriälä, The Nordic model – Challenged but capable of reform, joint with Allan Sørensen. Tema Nord 2014:531.

Policy reports:

  • Den danske finanskrise – kan det ske igen? KRAKAs Finanskrisekommissione(co-author)
  • Grønlands Økonomi 2014, Rapport fra Grønlands Økonomisk Råd, Nuuk.
  • Sustainable Governance Indicators, 2014 Denmark Report, joint with Finn Laursen, Bertelsmann Stiftung.


  • Kommentarer til Dansk Økonomi Foråret 2014, i ”Dansk Økonomi Foråret 2014”, Det Økonomiske Råd.
  • Kommentarer til Dansk Økonomi Efteråret 2014, i ”Dansk Økonomi Efteråret 2013”, Det Økonomiske Råd.
  • Finanskrise,  arbejdsmarked og økonomisk journalistik, i ”Krisen i ¨økonomi og journalistik” , R.Buch og M. Verner (eds.), Forlaget Ajour.
  • Ledelsesnærvær, inddragelse og administrativ understøttelse, Den interne problemanalyse på Aarhus Universitet, Hovedrapporten, Ekspertgruppen Aarhus Universitet (medforfatter)
  • Report on the research assessment of the Tilburg School of Economics and Management at Tilburg University Research Review, Tilburg School of Economics and Management (co-author)

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