Europe is experiencing a financial and economic crisis. This began with the 'credit crunch' in the financial services sector and evolved as a sovereign debt crisis. Fiscal consolidation and austerity measures have been deployed in response to the crisis to reduce public deficits and debt. This...

pt. 1. Historical perspectives -- pt. 2. Theoretical developments -- pt. 3. A fresh look at households -- pt. 4. Labour market debates -- pt. 5. Lessons from the laboratory -- pt. 6. Institutions matter.