CURRICULUM VITAE June 2004

CURRICULUM VITAE June 2004 Personal Data: Full Name: Svend Erik Hougaard Jensen Date of Birth: March 29, 1959 Citizenship: Marital Status: Denmark Married to cand.jur. Helle Hougaard Jensen, Head of Unit in Hillerød Kommune. Four children: Annebeth (1992), Maria (1994), Emma (1997) and Hannah (2000). Contact Information: Office (1): Centre for Economic and Business Research (CEBR) Langelinie Allé 17 DK-2100 Copenhagen OE Denmark >T: (+45) 35466537 >F: (+45) 35466201 >M: (+45) 20757807 >E: shj@cebr.dk >W: http://www.cebr.dk/shj Office (2): University of Southern Denmark (SDU) Department of Economics Campusvej 55 DK-5230 Odense M Denmark >T: (+45) 65502146 >F: (+45) 66158790 >M: (+45) 20757807 >E: shj@sam.sdu.dk >W: http://www.sam.sdu/staff/shj Home: Johan Mantzius Vej 33, DK-3460 Birkerød Denmark >T: (+45) 45822207 Education: PhD (Econ), London Business School, University of London, UK; 1990. Title of Thesis: International Transmission and Coordination of Macroeconomic Policies. Supervisor: Professor David A. Currie. Examiners: Professors George Alogoskoufis and David Vines. 1

Cand.oecon., University of Aarhus, Denmark; 1986. Area of Specialisation: International Macroeconomics. MA (Econ), University of Manchester, UK; 1986. Area of Specialisation: International Macroeconomics. Studentereksamen, Rønde Gymnasium, Denmark; 1979. Areas of Specialisation: Mathematics and Physics. Agricultural College, Korinth Landbrugsskole, Denmark; 1976. Career: Professor of Economics, University of Southern Denmark at Odense, Denmark, February 2003 - Present. Director of Research, Centre for Economic and Business Research (CEBR), Denmark, June 1998 - Present. Research Associate, Economic Policy Research Unit (EPRU), University of Copenhagen, Denmark, October 1993 - Present. Associate Professor (External)(Macroeconomics), Institute of Economics, University of Copenhagen, Denmark, August 2000 - Present. Head of Division, Division of Economic Analysis, Ministry of Trade and Industry, Denmark, September 1997 - June 1998. Research Associate, Department of Economics, University of California at Santa Cruz, USA, January 1997 - July 1997. Associate Professor (International Macroeconomics), Institute of Economics, University of Copenhagen, Denmark, August 1996 - September 1997. Associate Professor, Institute of Economics, Copenhagen Business School, Denmark, February 1993 - August 1996. Assistant Professor, Institute of Economics, Copenhagen Business School, Denmark, February 1990 - January 1993. Research Scholar, Institute of Economics, Copenhagen Business School, Denmark, February 1987-January 1990. Teaching Assistant, Institute of Economics, University of Aarhus, Denmark, 1982-85. Agricultural Trainee, 1975-77. Awards: Grundfos Prize, Poul Due Jensen s Foundation, 2003. Lundbeck Prize, Lundbeck Foundation, 1993. Jørgen Pedersen Prize, University of Aarhus, 1987. Publications: A. Theses, Books and Monographs: 2

1. Stabilisation Policies in Interdependent Economies: Assessment and Design, 1986, Cand.Oecon. dissertation, University of Aarhus, awarded the Jørgen Pedersen Prize. 2. International Transmission and Coordination of Macroeconomic Policies, 1990, Ph.D. thesis, University of London. 3. Økonomi, Demografi og Ældrepolitik ( Economics, Demographics and Policies towards the Elderly ), 1993, awarded the Lundbeck Prize 1993, Jurist- og Økonomforbundets Forlag (with Søren Bo Nielsen). 4. Dansk Økonomisk Politik - Teorier og Erfaringer ( Danish Economic Policy - Theories and Experiences ), 1994, Handelshøjskolens Forlag (with E. Damsgaard Hansen, K. Kjærsgaard and J. Rosted). 5. Macroeconomic Perspectives on the Danish Economy, 1999, Macmillan Press (edited with Torben M. Andersen and Ole Risager). 6. Fiscal Aspects of European Monetary Integration, 1999, Cambridge University Press (edited with Andrew Hughes Hallett and Michael M. Hutchison). 7. Økonomi og Erhvervspolitik ( Economics and Business Policies ), 2000, Handelshøjskolens Forlag (editor). 8. Using Dynamic General Equilibrium Models for Policy Analysis, 2000, Contributions to Economic Analysis, 248, North- Holland (edited with Glenn W. Harrison, Lars Haagen Pedersen and Thomas F. Rutherford). 9. Denmark in the Information Society: Challenges for Research and Education Policy, 2003, awarded the Grundfos Prize 2003, DJOEF Publishing Copenhagen (with Nikolaj Malchow-Møller, Ulrich Kaiser, Jan Rose Skaksen and Anders Sørensen). 10. Citizens and Pensions in the Ageing Society: Transparency, Confidence and Sustainability, 2004 (with Morten I. Lau and Panu Poutvaara). Under revision. B. Articles in International Journals/Books: 1. Aging, Intergenerational Distribution and Public Pension Systems, Public Finance, vol. 48 (supplement), 1993, pp. 29-42 (with Søren Bo Nielsen). 2. Tax Reform, Employment and Intergenerational Distribution, Scandinavian Journal of Economics, vol. 96, 1994, pp. 381-401 (with Søren Bo Nielsen, Lars Haagen Pedersen and Peter Birch Sørensen). 3. Tax Reform, Employment and Intergenerational Distribution, in Andersen, T.M., K.O. Moene and P.B. Sørensen (Eds.), Tax Policy in Small Open Economies, Blackwell, Oxford, 1994 (with Søren Bo Nielsen, Lars Haagen Pedersen and Peter Birch Sørensen), reprint of B2. 4. Demographic Transition and Old Age Provision in Denmark, Scandinavian Population Studies, vol. 10, 1995, pp. 143-160 (with Søren Bo Nielsen). 5. Debt, Deficits and Transition to EMU: A Small Country Analysis, European Journal of Political Economy, vol. 11, 1995, pp. 3-25 (with Lars Grue Jensen). 6. Population Ageing, Public Debt and Sustainable Fiscal Policy, Fiscal Studies, vol. 16, 1995, pp. 1-20 (with Søren Bo Nielsen). 7. Tax Policy, Housing, and the Labour Market: An Intertemporal Simulation Approach, Economic Modelling, vol. 13, 1996, pp. 355-382 (with Søren Bo Nielsen, Lars Haagen Pedersen and Peter Birch Sørensen). 8. Wage Rigidity, Monetary Integration and Fiscal Stabilisation in Europe, Review of International Economics, vol. 5, 1997, pp. 36-54. 9. Wage Rigidity, Monetary Integration and Fiscal Stabilisation in Europe, in Deissenberg, C., R.F. Owen and D. Ulph (Eds.), European Economic Integration, Blackwell, Oxford, 1997, reprint of B8. 3

10. Debt Reduction, Wage Formation and Intergenerational Welfare, in Broer, D.P. and J. Lassila (Eds.), Pension Policies and Public Debt in Dynamic CGE Models, Physica-Verlag, Heidelberg, 1997. 11. Generational and Gender-Specific Aspects of the Tax and Transfer System in Denmark, Empirical Economics, vol. 22, 1997, pp. 615-635 (with Bernd Raffelhüschen). 12. Public Debt, Welfare Reforms and Intergenerational Distribution of Tax Burdens in Denmark, in Auerbach, A., L. Kotlikoff and W. Leibfritz (Eds.), Generational Accounting Around the World, Chicago University Press, 1999 (with Bernd Raffelhüschen). 13. Macroeconomic Perspectives on the Danish Economy: Problems, Policies and Prospects, in Andersen, T.M., S.H. Jensen and O. Risager (Eds.), Macroeconomic Perspectives on the Danish Economy, Macmillan Press, London, 1999 (with Torben M. Andersen and Ole Risager). 14. Government Solvency, Social Security and Debt Reduction in Denmark, in Andersen, T.M., S.H. Jensen and O. Risager (Eds.), Macroeconomic Perspectives on the Danish Economy, Macmillan Press, London, 1999 (with Martin Junge and Ninette Pilegaard Hansen). 15. Fiscal Aspects of European Monetary Integration: An Introduction, in Hughes Hallett, A., M.H. Hutchison and S.H. Jensen (Eds.), Fiscal Aspects of European Monetary Integration, Cambridge University Press, 1999 (with Andrew Hughes Hallett and Michael Hutchison). 16. Nominal Stability, Real Convergence, and Fiscal Transfers in a Monetary Union, in Hughes Hallett, A., M.H. Hutchison and S.H. Jensen (Eds.), Fiscal Aspects of European Monetary Integration, Cambridge University Press, 1999. 17. Denmark: Challenges Ahead and Needs for Social Security Reforms, European Economy, 1999 (6), pp. 43-56 (with Bernd Raffelhüschen). 18. Using Dynamic General Equilibrium Models for Policy Analysis: Introduction, in Harrison, G.W., S.H. Jensen, L.H. Pedersen and T. F. Rutherford (Eds.), Using Dynamic General Equilibrium Models for Policy Analysis, Contributions to Economic Analysis, 248, North-Holland, 2000 (with Glenn W. Harrison, Lars Haagen Pedersen and Thomas F. Rutherford). 19. Currency Unions and the Incentive to Reform: Are Market Mechanisms Enough?, North American Journal of Economics and Finance, vol. 12, 2001, pp. 139-155 (with Andrew Hughes Hallett). 20. Measuring Educational Heterogeneity and Labour Quality: A Note, Review of Income and Wealth, vol. 48, 2002, pp. 261-269 (with Mogens Fosgerau and Anders Sørensen). 21. Reforming Social Security in a Transition Economy: The Case of Lithuania, Journal of Policy Reform, vol. 5, 2002, pp. 17-36 (with Jukka Lassila). 22. Distributional Effects of Fiscal Consolidation, Scandinavian Journal of Economics, vol. 104 (3), 2002, pp. 471-493 (with Thomas F. Rutherford). 23. Fiscal Sustainability and Generational Burden Sharing in Denmark, Nordic Journal of Political Economy, vol. 28 (1), 2002, pp. 43-60 (with Ulrik Nødgaard and Lars Haagen Pedersen). 24. On the Role of Labour Market Reform for the Enlargement of a Monetary Union, CESifo Economic Studies, vol. 49 (3), pp. 355-379 (with Andrew Hughes Hallett). 25. The Ages of Economic Transition, IMF Survey, vol. 32 (4), 2003, pp. 56-57 (with Tobias N. Rasmussen and Thomas F. Rutherford). 26. On the Enlargement of Currency Unions: Incentives to Join and Incentives to Reform, in Beetsma, R., C. Favero, A. Missale, V.A. Muscatelli, P. Natale and P. Tirelli (Eds.), Monetary Policy, Fiscal Policies and Labour Markets: Macroeconomic Policymaking in the EMU, Cambridge University Press, 2004 (with Andrew Hughes Hallett). 27. Fiscal Aspects of Central Bank Independence: A Comment, in Sinn, H.-W., M. Widgrén and M. Köthenbürger (Eds.), European Monetary Integration, MIT Press, 2004. 4

28. On the Measurement of Relative Demand Shifts for Educated Labour, Economics Letters, vol. 83 (2), pp. 245-249 (with Anders Sørensen). 29. Northern and Eastern Enlargement of EMU: Do Structural Reforms Matter?, to appear in SUERF Studies (with Andrew Hughes Hallett and Christian Richter). 30. Efficiency and Equity Effects of Alternative Social Security Rules, to appear in FinanzArchiv, vol. 60 (3), 2004 (with Morten I. Lau and Panu Poutvaara). 31. The European Economy at the Cross Roads: Structural Reforms, Fiscal Constraints, and the Lisbon Agenda, to appear in Hochreiter, E. (Ed.), Growth and Stability in the EU: Perspectives from the Lisbon Agenda, Oesterreichische Nationalbank, 2004. C. Articles in Danish/Nordic Journals/Books: 1. International transmission af økonomisk politik ( International Transmission of Macroeconomic Policies ), Nationaløkonomisk Tidsskrift, vol. 127, 1989, pp. 356-370. 2. Om finanspolitisk selvstændighed i en økonomisk og monetær union ( On Fiscal Sovereignty in an Economic and Monetary Union ), Nationaløkonomisk Tidsskrift, vol. 129, 1991, pp. 165-181 (with Christian Motzfeldt). 3. Demografiske forskydninger, det offentlige pensionssystem og makroøkonomien ( Changing Demographics, Public Pensions and the Macroeconomy ), Nationaløkonomisk Tidsskrift, vol. 129, 1991, pp. 288-302 (with Søren Bo Nielsen). 4. Integration, konvergens og økonomisk politik i Europa ( Economic Integration, Convergence, and Macroeconomic Policy in Europe ), Økonomi og Politik, vol. 65, 1992, pp. 20-30. 5. Pensionsreform, incitamenter og generationskonflikter ( Pension Reform, Incentives and Cross-Generational Conflicts ), Nationaløkonomisk Tidsskrift, vol. 131, 1993, pp. 76-93 (with Bernd Raffelhüschen). 6. Har ØMU en overhovedet en fremtid? ( EMU: Has It a Future? ), Økonomi og Politik, vol. 66, 1993, pp. 52-61 (with Christian Motzfeldt). 7. Hvordan finansierer det offentlige det stigende antal ældre? ( How to Finance an Ageing Population ), Samfundsøkonomen, no. 8, 1993, pp. 12-19 (with Søren Bo Nielsen). 8. Offentlig gæld og budgetunderskud i Danmark: Er finanspolitikken holdbar? ( Public Debt and Deficits in Denmark: Is Fiscal Policy Sustainable? ), Nationaløkonomisk Tidsskrift, vol. 132, 1994, pp. 318-334 (with Christian Motzfeldt). 9. Befolkningsaldring, offentlige udgifter og finanspolitikkens holdbarhed ( Population Ageing, Public Expenditures and Sustainability of Fiscal Policy ), Ekonomisk Debatt, vol. 23, no. 1, 1995, pp. 23-35 (with Henrik Jacobsen and Rasmus Lentz). 10. Offentlig gæld, makroøkonomien og generationsomfordeling ( Public Debt, the Macroeconomy, and Intergenerational Distribution ), Nationaløkonomisk Tidsskrift, vol. 133, 1995, pp. 66-86. 11. Pensioner, ældreservice og finanspolitik ( Public Pensions, Old-Age Provision, and Fiscal Policy ), Nordisk Forsikringstidsskrift, vol. 76, 1995, pp. 21-25. 12. Omfordeling mellem generationer i Danmark ( Intergenerational Redistribution in Denmark ), Samfundsøkonomen, no. 4, 1996, pp. 18-23. 13. Samarbejde om økonomisk politik i Europa ( Macroeconomic Policy Coordination in Europe ), in Den Store Danske Encyklopædi, Gyldendal, 1996. 14. Et generationsregnskab for Danmark ( Generational Accounting in Denmark ), Nationaløkonomisk Tidsskrift, vol. 134, 1996, pp. 39-60 (with Per Jacobsen, Martin Junge and Bernd Raffelhüschen). 5

15. Danmark og euroen: konsekvenser for finanspolitikken? ("Denmark and the Euro: What Are the Fiscal Implications?"), Økonomi og Politik, vol. 73 (2), 2000, pp. 36-46 (with Robert R. Dogonowski). 16. Økonomi og erhvervspolitik: En indledning ( Economics and Business Polices: An Introduction ), in Jensen, S.H. (Ed.), Økonomi og Erhvervspolitik, Handelshøjskolens Forlag, 2000. 17. Produktivitet, FoU og innovationspolitik: En analyse af fremstillingssektoren i Danmark ( Productivity, R&D and Innovation Policy: An Analysis of the Manufacturing Sector in Denmark ), in Jensen, S.H. (Ed.), Økonomi og Erhvervspolitik, Handelshøjskolens Forlag, 2000 (with Torsten Sløk and Anders Sørensen). 18. Har Danmark et produktivitetsproblem? ( Is There a Productivity Problem in the Danish Economy? ), in Jensen, S.H. (Ed.), Økonomi og Erhvervspolitik, Handelshøjskolens Forlag, 2000 (with Thomas V. Pedersen and Anders Sørensen). 19. Fastkurspolitik, ØMU og valutaspekulation ( Fixed Exchange Rates, EMU and Currency Crises ), in Den Danske Europabevægelse (Ed.), Derfor euro, Den Danske Europabevægelse, 2000. Extended version available as EPRU Analyse No. 19, July 2000. 20. Ny økonomi - IT og økonomisk vækst ( New Economy: IT and Economic Growth ), Samfundsøkonomen, no. 4, 2001, pp. 10-16 (with Anders Sørensen). 21. Uddannelse, beskæftigelse og økonomisk vækst ( Education, Employment and Economic Growth ), Nationaløkonomisk Tidsskrift, vol. 140 (1), 2002, pp. 1-17 (with Anders Sørensen). 22. "Videregående uddannelse har positiv indflydelse på samfundsøkonomien" ("Higher Education Has a Positive Impact on the Economy"), in Ministeriet for Videnskab, Teknologi og Udvikling (Ed.), Regeringens Vidensstrategi - Viden i Vækst (Baggrundsrapport), Ministeriet for Videnskab, Teknologi og Udvikling, 2003. 23. Danmark i vidensamfundet udfordringer for forsknings- og uddannelsespolitikken ( Denmark and the Information Society: Challenges for Research and Education Policy ), Samfundsøkonomen, 2003, pp. 4-11 (with Nikolaj Malchow- Møller, Ulrich Kaiser, Jan Rose Skaksen and Anders Sørensen). D. Working Papers in English: 1. Population Aging, Public Pensions and the Macroeconomy: A Technical Note, Working Paper 8-91, Institute of Economics, Copenhagen Business School, 1991 (with Søren Bo Nielsen). Unpublished. 2. On the Optimal Design of Public Pension Systems: A Note, mimeo, 1992 (with Søren Bo Nielsen). Unpublished. 3. Evaluating Tax Reform Proposals. An Intertemporal Approach, Working Paper 4-93, Institute of Economics, Copenhagen Business School, 1993 (with Søren Bo Nielsen, Lars Haagen Pedersen and Peter Birch Sørensen). Unpublished. 4. Output Stabilization in EMU: Is There a Case for an EFTS?, CentER Discussion Paper No. 9677, August 1996 (with Bas van Aarle). Unpublished. 5. Skill Upgrading, Relative Demand Shifts, and Economic Growth, originally issued as CEBR Discussion Paper No. 2000-11 entitled Relative Demand Shifts for Educated Labour, revised June 2003 (with Mogens Fosgerau and Anders Sørensen). Unpublished. 6. Fiscal Sustainability, Aggregate Savings, and Occupational Pensions, mimeo, May 2002 (with Michael Andersen and Lars Haagen Pedersen). Under revision. 7. Economic Transition, Entrepreneurial Activity, and Intergenerational Distribution, CEBR Discussion Paper No. 2002-9, July 2002 (with Tobias Nybo Rasmussen and Thomas F. Rutherford). Also issued as IMF Working Paper No. 02/180. Under revision. 8. Controlling the Effects of Demographic Risks: The Role of Pension Indexation Schemes, CEBR Discussion Paper No. 2003-12, revised June 2004 (with Juha Alho, Jukka Lassila and Tarmo Valkonen). Refereeing process. 6

9. Europe at the Cross Roads: Structural Reforms, Fiscal Constraints, and EMU Enlargement, Mimeo, December 2003 (with Andrew Hughes Hallett and Christian Richter). Refereeing process. 10. Estimating Returns to Schooling: Is Overeducation a Neglected Issue?, Mimeo, CEBR, December 2003 (with Marie Degn Kristensen and Nikolaj Malchow-Møller). Under revision. 11. Relative Demand Shifts for Labour with Different Type and Length of Education: Evidence from Denmark and the US, CEBR Discussion Paper No. 2004-16, June 2004 (with Anders Sørensen). Under revision. 12. More Flexibility and Structural Reforms in the Eurozone: How Much Difference Would Agenda 2010 Make?, mimeo, June 2004 (with Andrew Hughes Hallett and Christian Richter). Under revision. E. Unpublished Papers in Danish: 1. Valutakursdynamik, løntilpasning og international koordination ( Exchange Rate Dynamics, Wage Adjustment, and International Coordination ), Working Paper 3-89, Institute of Economics, Copenhagen Business School, 1989. 2. Valutakursbevægelser, målzoner og international koordination af økonomisk politik ( Exchange Rate Volatility, Target Zones, and International Coordination of Macroeconomic Policy ), Working Paper 4-89, Institute of Economics, Copenhagen Business School, 1989 (with Thomas Alslev Christensen). 3. Det aldrende samfund og skatterne - to artikler ( The Ageing Society and the Tax Burden - Two Small Contributions ), EPRU Analyse No. 1, 1993 (with Søren Bo Nielsen). 4. Dokumentation af datamaterialet i det danske generationsregnskab ( Documentation of the Data Used in the Danish Generational Accounts ), mimeo, EPRU, January 1997 (with Per Jacobsen, Martin Junge and Bernd Raffelhüschen). 5. Risikokapital i de nordiske lande: markeder, effekter og politik ( Venture Capital in the Nordic Countries: Markets, Effects and Policy ), CEBR Arbejdspapir No. 2002-03 (with Claus E. Christensen). F. Expository Notes: 1. Customs Unions, Optimum Currency Areas and European Integration, Working Paper 5-92, Institute of Economics, Copenhagen Business School, 1992 (with Søren Bo Nielsen). 2. Three Expository Notes, (a) Household Optimization and Aggregation, (b) EMS and Central Bank Credibility, (c) The Government Budget Constraint and Fiscal Sustainability, Working Paper 2-95, Institute of Economics, Copenhagen Business School, 1995. 3. Credibility, Macroeconomic Performance, and the Exchange Rate Regime, mimeo, University of Copenhagen, February 1997. G. Feature Articles: 1. "Landmænd fra asken i ilden" ("Farmers out of the Frying Pan into the Fire"), Aarhus Stiftstidende, March 5, 1980. 2. Ny Folkepension eller generationskrig ( Pension Reform - or Generational Conflicts ), Information, May 6, 1993 (with Søren Bo Nielsen). 3. Vi bli r ældre... ( We re Getting Older... ), Politiken, March 25, 1995. 4. Generationsregnskabet ( Generational Accounting ), Berlingske Tidende, March 14, 1996. 5. Uro eller euro ( Turmoil or euro ), Politiken, September 4, 2000. 6. Udfordringer for forskningspolitikken ( Challenges for Research Policy ), Jyllands-Posten, May 20, 2003 (with Ulrich Kaiser, Nikolaj Malchow-Møller, Jan Rose Skaksen and Anders Sørensen). 7

7. Sverige, økonomerne og euroen ( Sweden, the Economists and the Euro ), Politiken, August 03, 2003. 8. Skræddersy uddannelserne ( Tailoring Educations ), Politiken, August 12, 2003 (with Nikolaj Malchow-Møller). 9. Prognoser, reformer og fremtidens velfærdssamfund ( Projections, Reforms and the Future Welfare State ), June 21, 2004. H. Agency Reports: 1. Recent Developments in the Danish Economy: Problems, Policies and Prospects, prepared for the Economic and Social Committee of the European Communities, June 1996. 2. Generational Accounting in Europe, prepared for the European Commission, Directorate General XXI, October 1997 (with Alan Auerbach, Eduard Comas, Laurence Kotlikoff and Bernd Raffelhüschen). 3. Opsparing og Fremtidig Velfærd ( Saving and Future Welfare ), prepared for Finansraadet (Danish Bankers Association), September 1998 (with Torben M. Andersen, Niels Chr. Nielsen and experts from Danish Bankers Association). 4. The Lithuanian Pension System: Alternative Proposals for the Future, prepared for the European Commission (a Phare ACE Research Project), April 2000 (with Jukka Lassila, Romas Lazutka and Audra Morkunienie). 5. Seed Capital in the Nordic Countries: Best Practice, prepared for the Nordic Industrial Fund, December 2001 (with Claus E. Christensen, Anders Isaksson, Morten Bennedsen and Søren Bo Nielsen). 6. The Economic Effects of Population Ageing and Demographic Uncertainty in Lithuania: Summary, Conclusions and Recommendations, prepared for the European Commission (Research Report P98-1023-R), June 2002 (with Juha Alho, Jukka Lassila, Romas Lazutka, Audra Morkunienie and Tarmo Valkonen). Current Research Projects 1. Education, Skills and the Labour Market, with Anders Sørensen. 2. Incentives for Structural Reform in the European Union, with Andrew Hughes Hallett. 3. Ageing, Fiscal Policy, and Occupational Pensions, with Lars Haagen Pedersen. 4. Alternative Social Security Rules, with Morten Lau and Panu Poutvaara. 5. Economic Effects of Demographic Risks, with Juha Alho, Jukka Lassila and Tarmo Valkonen. Conferences, Workshops and Seminars I. Organizer: 1. Macroeconomic Perspectives on the Danish Economy, with Torben M. Andersen and Ole Risager, Hornbæk, Denmark, June 1997. 2. Fiscal Aspects of European Monetary Integration, with Andrew Hughes Hallett and Michael M. Hutchison, Hornbæk, Denmark, August 1997. 3. Using Dynamic CGE Models for Policy Analysis, with Glenn Harrison, Thomas Rutherford and Lars Haagen Pedersen, Gl. Avernæs, Denmark, June 1998. 4. European Economic Integration and Institutional Change, with Michael Hutchison, Hornbæk, Denmark, August 1998. 8

5. Policy Models of Green Taxes, with Glenn W. Harrison and Thomas F. Rutherford, Copenhagen, Denmark, March 1999. 6. Using OLG Models for Policy Analysis, Copenhagen, Denmark, August 1999. 7. Structural Change and European Economic Integration, with Michael Hutchison, Liseleje, Denmark, September 1999. 8. Current Issues in Competition Policy, with James Markusen, Copenhagen, Denmark, November 1999. 9. International Comparisons of Productivity, Copenhagen, Denmark, December 1999. 10. Perspectives on Danish and European Economic Policies, with Torben M. Andersen and Peter Birch Sørensen, Copenhagen, Denmark, November 2000. 11. Danish and International Economic Policy, with Lars Haagen Pedersen and Peter Birch Sørensen, Copenhagen, Denmark, May 2002. 12. Social Security, Labour Supply, and Demographic Change, with Panu Poutvaara and Peter Birch Sørensen, Copenhagen, Denmark, June 2003. II. Speaker/discussant: 1. Economic Policy in Open Economies, Department of Economics, University of Aarhus, Denmark, January 1991. 2. Business and Economic Studies on European Integration, Gilleleje, Denmark, August 1991. 3. 10th World Congress, the International Economic Association, Moscow, Russia, August 1992. 4. 10th Nordic Demographic Symposium, Lund, Sweden, August 1992. 5. Tax Policy in Small Open Economies, Nordic Economic Research Council, Reykjavik, Iceland, March 1993. 6. Small Countries and the EMU, Department of Economics, University of Joensuu, Joensuu, Finland, June 1993. 7. Eighth Annual Conference, European Economic Association, Helsinki, Finland, August 1993. 8. The Economics of Ageing, European Research Foundation, Sitges, Spain, June 1994. 9. Pension Systems, Taxation and Public Debt in Dynamic CGE Models, ETLA, Helsinki, Finland, April 1995. 10. Intégration Économique Européenne, Association Francaise de Science Économique, Nantes, France, June 1995. 11. The Changing Role of the Public Sector: Transitions in the 1990s, International Institute of Public Finance, Lisbon, Portugal, August 1995. 12. Should We Rebuild Built-In Stabilizers?, CEPREMAP, Paris, France, January 1996. 13. Evolution of Institutions and Policy in a European Monetary Union, Innsbruck, Austria, March 1996. 14. Generations and Welfare - Problems, Prospects and Policies, Prime Minister s Office, Helsinki, Finland, October 1996. 15. The Political Economy of European Monetary Integration, Claremont Workshop, Los Angeles, USA, February 1997. 16. Political Economy of European Integration, Study Group Meeting, Berkeley, USA, March 1997. 17. Generational Accounting in Europe, Freiburg, Germany, October 1997. 18. Social Security, Taxation, and Intergenerational Welfare, SNF and NHH, Bergen, Norway, November 1997. 9

19. Pension Reform in Lithuania, Government of Lithuania, Vilnius, Lithuania, June 2000. 20. Issues Regarding European Monetary Union, CESifo, Munich, Germany, December 2000. 21. Generational Accounting in the Nordic Countries, Institute of Economic Studies, Reykjavik, Iceland, February 2001. 22. Trade, Growth, and Multinationals, CEBR, Copenhagen, May 2001. 23. Modellers Forum on Aging, ETLA and IIASA, Helsinki, Finland, June 2001. 24. EMU Macroeconomic Institutions and Policies, Milan-Bicocca University Conference, Milan, Italy, September 2001. 25. Managing EU Enlargement, CESifo-Delphi Conferences, Munich, Germany, December 2001. 26. Practical Lessons in Pension Reform: Sharing the Experiences of Transition and OECD Countries, Warsaw, Poland, May 2002. 27. Small Innovative Firms and Entrepreneurship in the Nordic Countries, Nordic Industrial Fund, Oslo, Norway, October 2002. 28. Policy Competition and the Welfare State, the Central Planning Bureau, the Hague, the Netherlands, November 2002. 29. Demographic Uncertainty and the Sustainability of the Welfare State, Center for European Policy Studies, Bruxelles, Belgium, January 2003. 30. On the Incentives for Structural Reform in the European Monetary Union, The Robert Schuman Centre for Advances Studies, European University Institute, Italy, April 2003. 31. Macroeconomic Management in a Small Open Economy, Institute of Economic Studies, University of Iceland, August 2003. III. International Seminars: 1. Wage Formation, Policy Spillovers, and International Policy Coordination, Center for Economic Studies, University of Leuven, Belgium, April 1991. 2. Reforming Social Security in Denmark, Department of Economics, University of Lund, Sweden, April 1994. 3. Generational Accounting in Denmark, the Central Planning Bureau, the Hague, the Netherlands, April 1996. 4. Intertemporal Aspects of Fiscal Policy in Denmark, Department of Economics, University of Lund, Sweden, May 1996. 5. Public Debt, Welfare Reforms, and Intergenerational Distribution of Tax Burdens in Denmark, Department of Economics, University of California at Santa Cruz, USA, February 1997. 6. Distributional Effects of Fiscal Consolidation, Department of Economics, European University Institute, Italy, June 2000. 7. On the Role of Labour Market Reform for the Enlargement of a Monetary Union, Department of Economics, European University Institute, Italy, February 2003. IV. Danish Conferences/ Workshops/Talks: 1. Økonomisk og Monetær Union i Europa ( Economic and Monetary Union in Europe ), Slagelse, May 1992. 2. Konference om Finansredegørelse 1993 ( Conference organised by the Ministry of Finance; based on Government Report on macroeconomic policy in Denmark ), Copenhagen, November 1993. 10

3. Arbejdsmarkedspensioner ( Occupational Pension Schemes ), Hornbæk, September 1995. 4. Senior- og pensionistpolitik ( Policies Towards the Elderly ), Skarrild, November 1995. 5. The Economic and Social Situation in Denmark, Economic and Social Committee of the European Communities, Copenhagen, May 1996. 6. Uddannelse, humankapital og økonomisk vækst ( Education, Human Capital and Economic Growth ), Danish Economic Association, Copenhagen, October 2001. 7. Kan efter- og videreuddannelse betale sig? Giver øgede kompetencer og fleksibilitet et samfundsøkonomisk afkast? Kompetenceenhedernes Netværksseminar, University of Copenhagen, February 2002 8. Nødvendige ændringer af forsknings- og uddannelsespolitikken ( Necessary Changes to Research and Education Policies ), Akademikernes Centralorganisation (AC), Copenhagen, May 2003. 9. Destination Barcelona - Planmæssig ankomst 2010 ("Destination Barcelona - Scheduled Arrival 2010"). Akademikernes Centralorganisation (AC) og Rektorkollegiet, Copenhagen, August 2003. 10. Dynamic Benchmarking of Entrepreneurship, FORA Entrepreneurship Workshop, Copenhagen, September 2003. 11. Stabilisation Policy and Structural Reform in the EMU. Inaugural lecture, University of Southern Denmark, Odense, September 2003. 12. Samfundets afkast af universitetsuddannelse ("Social Rate of Return to Higher Education"), Government conference, Copenhagen, December 4, 2003. Other Professional Activities: I. Refereeing: European Economic Review, International Tax and Public Finance, Scandinavian Journal of Economics, Journal of Macroeconomics, Journal of Comparative Economics, Scottish Journal of Political Economy, Journal of Policy Reform, FinanzArchiv, Scandinavian Economic History Review and Nationaløkonomisk Tidsskrift. II. Consultancy: 1. Employer: Den Store Danske Encyklopædi; Activity: the European Union; 1993-Present. 2. Employer: The Economic and Social Committee of the European Communities; Activity: the Danish Economy; 1994-95. 3. Employer: The European Commission; Activity: Generational Accounting in Europe; 1996-97. 4. Employer: The European Commission (Phare); Activity: Pension Reform in Lithuania; 1996-Present. 5. Employer: Finansraadet; Activity: Long-Term Saving in Denmark; 1997-98. 6. Employer: Nordic Industrial Fund; Activity: Seed Capital in the Nordic Countries; 2001-02. III. Miscellaneous 1. Member of assessment committee, PhD thesis on Aspects of Classical and Contemporary European Fiscal Policy Issues, Department of Economics, University of Aarhus, June 1999. 2. Chairman of assessment committee, PhD thesis on LDR Modeller, Department of Economics, University of Southern Denmark at Odense, September 2003. 11

3. Member of Advisory Scientific Council, the Danish National Institute of Social Research, June 1998 - Present. 4. Member of Board, Centre for Industrial Economics (CIE and DRUID), June 1998 - Present. 5. Member of Panel of Experts, Børsens Nyhedsmagasin, August 2000 - Present. 6. Expert on The Impact of EMU on the Public Sector, European Foundation for the Improvement of Living and Working Conditions, October 2000 - July 2001. 7. Member of Danish Management Society (VL-18), September 2001 - August 2003. 8. Member of Danmarks Forskningspolitiske Råd (Danish Council for Research Policy), January 2004 - Present 12