.Torben M. Andersen, Professor Aarhus University and research fellow at CEPR, CESifo, IZA and PeRCent. Main research interests: Economics of the welfare state, labour economics, public economics and pension economics. Has published on these topics in well-known international journals and books. Has been extensively involved in policy advice in Denmark, the Nordic countries, OECD, EU Commission, The World Bank, and various other contexts. Is member of various boards, and chairman of the Board of Directors, the Danish Pension Fund ATP.