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Labor Market Structure Analysis: MAJОR LEAGUE SОCCER
Hrdina, Martin ; Zajíček, Miroslav (advisor) ; Brožová, Dagmar (referee)
This thesis deals with the determination of the player labour market for the American professional sports league Major League Soccer (MLS). In the theoretical part I focus on the description of the league's development along with the salary politics rules. Using the two stages least square method in the empirical part I then provide the model for the estimation of player's marginal productivity (MRP). In the first step I explain the correlation between the percentages of obtained points by teams with player statistics. In the second step I examine the influence of this variable along with other factors on team's revenues from attendance. Afterwards I compare the calculated player's MRP with their salaries and also test some additional factors that might influence players' salaries. Using this model and also some other simple regressions I conclude that MLS labour market is a monopsony market structure. Besides I found out that forwarders market seems to be the closest part of the MLS labour market to the competitive market structure. In conclusion I discuss possible model's weaknesses, which turned out to be especially dependency of players on their co-players' on-field performance.
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Minimum wage in economic context
Kratochvíl, Martin ; Durdisová, Jaroslava (advisor) ; Krebs, Vojtěch (referee)
The thesis analyzes how minimum wage influences unemployment in the Czech Republic. Firstly, the economic theory is researched and the conclusion is that the Czech labour market is very similar to a monopsony market due to the low mobility of the workforce and the low rate of immigration. Another result is that the level of wages in developed economies does not depend on the productivity of the workforce anymore, so minimum wage laws have psychological impacts rather than economical. The following part of this thesis is dedicated to the comparison of labour market indicators between european countries. The last chapter investigates the main hypothesis with a dataset from the Czech Republic between 1993-2014 using the econometric model. A 1% increase of real minimum wage resulted in a 0.01% increase in the general unemployment rate and a 0.1% increase of unemployment among the young population. But if the minimum wage will be raised during the times of real GDP growth, influence on unemployment will be eliminated.
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Does monopson exist on the player's market in the NBA?
Pilmaier, Jan ; Hudík, Marek (advisor) ; Koubek, Ivo (referee)
This paper deals with the question whether the structure of the labor market in NBA is monopson or not. On the data from the NBA season 2011/12 I estimate player's marginal productivity using two stages least square model. In the first step I determine winner-loss ratio based on players' performance statistics. In the second step I use the results from the first model to predict team's revenues. This effect is controlled by other economic and social variables. Based on this model's results I determined that even though this market is not perfectly competitive, the results are not strong enough for monopson. Short player market could be described as winner-take-all market while on the market for centers there is a balance between pivots and owners and players can obtain their salary equal to their productivity. Then I discovered the superstar effect, according to which stars get bonuses to their salary against the rest of players. Finally it was found out that rookie contracts decrease players' rewards. On the market for centers the life cycle hypothesis holds.
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Monopsony on the labor market for players of National Hockey League: present or past?
Hladík, Ondřej ; Hudík, Marek (advisor) ; Mirvald, Michal (referee)
This thesis deals with determination of the labor market structure for professional athletes, specifically the market for players of National Hockey League (NHL). The theoretical part focuses on the development of labor market for athletes and changes in rules that affected this development. In the empirical part I present a model for determining the marginal revenue product (MRP) of players. Further I determine the impact of other factors that have an influence on wage differences between players. Taking all the results I specify the type of market structure, which I determined on the basis of the relationship between MRP of players and their wages. I find out that the market for defenders and forwards of NHL is rather competitive, unlike the market for goalkeepers, which is best describable by the "winner-take-all" theory. At the end of the thesis, the possible errors in the model and data that could affect the outcome are summed up.
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Minimal wage in Czech Republic and in European Union
Kopecký, Michal ; Pavelka, Tomáš (advisor) ; Džbánková, Zuzana (referee)
The aim of this paper is principally to detect origin and development of the institute of the minimal wage in the world and its spreading around Europe. In theoretic part I deal about basic functions of the minimal wage and about its influence on employment. Then in analytic part I deal about its development and spreading around the world, particular European minimal wages' systems and I analyse its amount in national and in European measure.
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