Why would people support policies that are macroeconomically unsound, in that they are more likely to lead to such events as sovereign crises, balance of payments crises, and the like? This may arise if decisive voters are likely to bear a lower fraction of the costs of the crisis, while...

This paper studies the effects of an oversubscribed job-training program on skills and labor-market outcomes using both survey and administrative data. Overall, vocational training improves labor-market outcomes, particularly by increasing formal employment. A second round of randomization...