Luke Walsh

Luke Walsh

PhD Candidate | University of Liverpool

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Investing in Your Future? How the Cost of University Shapes Labour Market Outcomes

Abstract: Increases in the cost of higher education raise concerns about the returns to human capital and the extent to which financial barriers restrict access, yet little is known about their effects in settings without credit constraints. This study leverages a natural experiment in which the UK government substantially raised a cap on tuition fees, to estimate the causal impact on educational attainment and labour market outcomes using a difference-in-discontinuities de- sign. I find that the fee increase reduced university enrolment, particularly in fields with lower expected returns, while students from low-income backgrounds were not disproportionately affected, likely due to the UK’s income-contingent loan system which mitigates credit con- straints. Overall, graduates affected by the reform were more likely to enter higher-paying industries and transition into employment more quickly, while low-income graduates expe- rienced a modest increase in earnings. These findings offer new insights into how higher university costs influence human capital investment and post-graduation outcomes.

The Effect of Pay Secrecy Bans on Wages and Discrimination Complaints

Abstract: Pay secrecy bans have been suggested as a solution to wage gaps. In this paper, we find no evidence that these policies have any impact on wages, but they do lead to an increase in lawsuits. Using Current Population Survey (CPS) data we exploit the variation in US states that passed these laws between 1977 and 2021. We find no evidence of wage changes or changes in wage gaps. However, using discrimination complaints filed with the Equal Employment Opportunity Commission (EEOC) between 2009 and 2021, we find the number of lawsuits filed due to workplace discrimination increased by 25-40%.

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