Denmark - Danish Economic Councils

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

The Chairmanship consists of four university professors in economics, and is often referred to as the “economic wise men”. 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 two tasks:

• To monitor the sustainability and soundness of public finances - acting as an Independent Fiscal Institution (IFI), i.e. Fiscal Watchdog
• To analyse the productivity and competiveness of the Danish Economy - acting as a National Productivity Board

The Economic Council was established by law in 1962. The Council has 25 members representing unions, employers, the Danish Central Bank and the Danish Government. The members of the Economic Council meet twice a year to discuss a report prepared by the Chairmanship.

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