Danish Economic Councils

The Danish Economic Councils is an independent economic advisory body. The primary objective of the institution is to provide independent analysis and policy advice to Danish policy makers.

The institution consists of two councils with one joint, independent chairmanship.

The Chairmanship

The Chairmanship consists of four university professors in economics and is publicly often referred to as the "wisemen". The Chairmanship is independent and responsible for the analyses and conclusions provided in the three main reports presented to the councils. In addition to presiding over the councils, the Chairmanship has the following tasks:

  • To oversee the sustainability and soundness of the public finances - acting as an Independent Fiscal Institution (IFI), ie. Fiscal Watchdog
  • To analyse productivity and competiveness of the Danish Economy - acting as a National Productivity Board 
  • To assess the assumptions used by the Danish ministries in the preparation of ex-ante assessments of economic policy measures

The Economic Council

The Economic Council was established by law in 1962. The Council has 24 members representing the chairmanship, unions, employers, the Danish Central Bank, the Danish Government, and indepedent economic experts. The members of the Economic Council meet twice a year to discuss a report prepared by the Chairmanship.

The Environmental Economic Council

The Environmental Economic Council was established by law in 2007. The Council has 24 members representing the charimanship, unions, employers, NGO's, the Danish Government, and independent economic experts.  The members of the Environmental Economic Council meet once a year to discuss a report prepared by the Chairmanship.

The history and functioning of the Economic Councils is described in an article authored by a  former chairman and a former head of the secretariat: The Danish Economic Councils, Kærgård and Andersen (2021).