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What influences the impact of high-speed railway construction?
Sedláček, Dan ; Bajgar, Matěj (advisor) ; Kúdeľa, Peter (referee)
This thesis investigates the impact of high-speed rail (HSR) construction on mu- nicipalities in its proximity, focusing on the heterogeneity of these impacts with respect to several municipality characteristics. It focuses on Japan's Shinkansen network lines constructed between 1983 and 2016, using municipality-level data from Statistics Japan and a novel methodology for causal estimation of Difference-in-Difference designs with staggered project launches. It compares municipalities close to Shinkansen stations (impacted by construction) to a control group consisting of municipalities located farther from these stations. The study found significant positive effects of high-speed railway (HSR) construction on population size, economic output, and tax revenue in impacted municipalities. The heterogeneous effects were the most pronounced in the case of municipality size, with larger municipalities seeing substantial increases in per capita income and only marginal impact observed in smaller municipalities where the impact was marginal. Additionally, the impact on tax revenue was mainly driven by lower-income municipalities, while wealthier areas saw no significant change. No differences were noted between service-oriented and industry-oriented municipalities. JEL Classification F12, F21, F23, H25,...
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Determinants of football players' market value during the season: Discrepancies between TOP 5 and the rest of the leagues
Chalupa, Vojtěch ; Kurka, Josef (advisor) ; Bajgar, Matěj (referee)
Football is a global phenomenon, primarily driven by clubs acquiring players who perform on their behalf on the pitch. The valuation of footballers during transfer negotiations is influenced by numerous factors. This thesis expands upon existing research by examining the discrepancies in the mechanisms of player market value formation between the top 5 European leagues and other competitions, using values from Transfermarkt.com together with the data from the 2022/23 season. Employing the Ordinary Least Squares method, we dis- cover that the substantial enhancement in the total price tags of players in the elite leagues is accompanied by variations in the factors a ecting these values. Notably, the analysis reveals significant disparities in the influence of ball possession-related statistics such as successful passes, dribbles, and the xG indicator, which tend to positively a ect player values only in less presti- gious leagues. Common significant factors with strong e ects in both groups include pre-season player's worth, number of minutes played, goals scored, and statistics reflecting team success. Contrary to previous studies, this research identified that age consistently impacts all players negatively. Further analysis also explores di erences between individual positions on the pitch and within...
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Essays on the impact of technological change on economic structure
Pleticha, Petr ; Srholec, Martin (advisor) ; Bajgar, Matěj (referee) ; Goedhuys, Micheline (referee) ; Lábaj, Martin (referee)
Interní Essays on the Impact of Technological Change on Economic Structure Abstract This dissertation investigates the interplay between technological change and economic structure. Welcomed technological change sometimes brings changes to the structure of the economy which introduces not so welcomed economic frictions. On the other hand, economic structure can foster or hinder technological change. This thesis focuses mainly on structural changes such as R&D financing and global value chain (GVC) integration potentially translating into economic productivity. In Chapter 2, I show that business R&D spending exerts both direct and indirect positive effects on value added. Nevertheless, the heterogeneity of the returns to R&D has seldom been examined. Using detailed sectoral data from Czechia over the period 1995-2015, this study finds that privately funded business R&D has both direct and spillover effects, but that the publicly funded part of business R&D only leads to spillovers. The results further suggest that both upstream and downstream spillovers matter, regardless of the source of funding, and that during the period studied, R&D returns were heavily affected by the economic crisis. Lastly, private R&D offers significant returns only after reaching a critical mass, while the effects of public R&D...
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Czech Secondhand Board Game Price Analysis
Pospíšil, Matyáš ; Polák, Petr (advisor) ; Bajgar, Matěj (referee)
This thesis explores the various factors a ecting the willingness to pay (WTP) for secondhand board games in the Czech market. A regression analysis was em- ployed to examine the influence of age, the importance of reviews and themes, monthly income and media influence on consumers' WTP. The study also dif- ferentiates between more and less complex games to highlight subtle shifts in WTP based on game complexity. The empirical results provide insights into the baseline for the discounted price, the significant negative e ect that age or inexperience in buying a board game can have and the remarkable positive ef- fect that following board game media has on the price. While the study centres on the Czech market, its findings o er practical implications for the broader secondhand board game market and retailers. JEL Classification C50, D12, D49, L14, L15 Keywords Secondhand Market, Board Games, Willingness to Pay, Regression Analysis Title Czech Secondhand Board Game Price Analysis Author's e-mail pospisil.matyas@gmail.com Supervisor's e-mail polakpet@gmail.com
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Evolution of markups: The case of the Czech Republic
Jurišta, Jakub ; Bajgar, Matěj (advisor) ; Petřík, Theodor (referee)
This thesis aims to state the picture of markups in the Czech Republic. Most of the research has been done in the United States, and many remaining studies have been done globally. However, global studies do not have high-quality data to determine the actual trend in some countries. The main finding is that the mean markup increases over time, where the main drivers of it are the upper percentile firms, which see a significant increase in their markups. Therefore, most firms see no increase in their markups. The trend is also claimed to be within all industries, not between them. We use high-quality data which covers all firms in the Czech Republic. Using the production approach, we estimate markups for 55 869 firms from 74 industries from 2012 to 2020. The goal is to show markups on three different levels and to see if the defined trend corresponds to the Czech one. This thesis is one of the first studies using high-quality data outside the United States, and to have an overview of an actual markup trend in Europe, more studies like this should be done in other countries. JEL Classification D21, D23, L10, L11, L22 Keywords markups, production approach, competition, market power Title Evolution of markups: The case of the Czech Republic Author's e-mail jakub.jurista@gmail.com Supervisor's e-mail...
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The impact of the electronic revenue registry on Czech firms
Varadi, Ondřej ; Bajgar, Matěj (advisor) ; Palanská, Tereza (referee)
This thesis studies the effects of the electronic revenue registry introduced in the Czech Republic in December 2016 on reported firm output, purchases, and on firm entry/exit. The policy aimed to reduce tax evasion via improved reporting of cash transactions at the end of the supply chain. Firms in affected industries were required to use special electronic revenue registers that automatically send information to tax authorities. We conduct a difference-in-differences estima- tion on representative firm-level data provided by the Czech Statistical Office and construct control groups from industries that were unaffected by the policy but were otherwise similar to the affected industries. We construct multiple alternative control groups for each treated industry to test the sensitivity and robustness of the results to the choice of the control group. The thesis finds that the policy increased reported output in industries characterized by a high volume of small-ticket sales, which include Food and beverage service activi- ties, Accommodation, and Retail. Additionally, in Food and beverage service activities, reported purchases increased by 16%, which could imply that the firms offset the increase in output by reporting greater purchases. Firm en- try decreased and firm exit increased around and...
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Are subsidies to business R&D effective? Regression discontinuity evidence from the TA CR ALFA programme
Bajgar, Matěj ; Srholec, Martin
Governments subsidise business research and experimental development (R&D) to promote development of the economy, because externalities and information asymmetries inherent to the innovation process make private funding of these activities fall short of what is socially desirable. Nevertheless, how effective such subsidies are and whether they achieve their goals is an open question that needs to be studied empirically. This study leverages the state-of-the-art method of regression discontinuity (RD) that allows us to come very close to making causal inferences about the effects of subsidies, to find out whether the Technology Agency of the Czech Republic’s (TA CR) ALFA programme stimulated new business R&D inputs, outputs, and positive economic impacts that would not have happened otherwise.
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Who bears the costs of Brexit? A regional perspective
Stuchlík, Jakub ; Baxa, Jaromír (advisor) ; Bajgar, Matěj (referee)
0. 1 Abstract One of the decisive elements for the Brexit referendum was the great regional inequality in the UK, the biggest among the G7 economies. In this thesis, we study whether spatial inequality increased due to Brexit. We successfully pi- oneer a Synthetic Control Method using Lasso to estimate the Brexit impact. Our results are consistent on the national level with other scholars, achieving a mild 2% drop in the real output in 2019 and a stunning 14% fall in 2020. At the regional level, our results hint bigger losses for London and Scottish regions than for rural areas. Thus, in contradiction to other studies, we show that Brexit could decrease spatial inequality. JEL Classification C54, O47 Keywords Brexit, Regional inequality, Synthetic Control Method, Synthetic Control Method using Lasso, real GDP Author's e-mail 43336682@fsv.cuni.cz Supervisor's e-mail jaromir.baxa@fsv.cuni.cz
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