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AbstractThis paper develops a dynamic general equilibrium model and studies structural change in a small open economy with two tradable sectors, agriculture and manufacturing, and a non‐tradable sector, services. In addition to obtaining results for a falling employment share of agriculture and a rising share of services, we demonstrate analytically the hump‐shaped share of manufacturing by identifying two countervailing effects: the productivity effect and the Balassa–Samuelson effect. The first effect, arising from differential rates of productivity growth among sectors, increases the share of manufacturing; the second effect, together with low rates of substitution between products, enhances the service sector and eventually draws labour from the manufacturing sector. At the aggregate level, however, the economy maintains a constant rate of growth. We calibrate the model with data from South Korea and find that the calibration fits the country's historical path of structural change.

AbstractWith the rapid development of e‐commerce, both e‐tailers and manufacturers have actively cooperated with third‐party platforms to expand distribution channels and enhance competitiveness. There are three typical choices for firms to cooperate with a third‐party platform: (i) non‐cooperation, (ii) agency selling cooperation mode, and (iii) reselling cooperation mode. We consider a three‐tier supply chain and establish a stylized theoretical model to explore whether and how the e‐tailer or the manufacturer cooperates with a third‐party platform. We investigate the optimal channel cooperation choices from both the e‐tailer's and the manufacturer's perspectives under various channel structures and cooperation modes, revealing their different roles in cooperating with third‐party platforms. Our results indicate that large potential market size of the third‐party platform motivates the e‐tailer to cooperate with the third‐party platform. On this basis, agency selling cooperation mode is preferred by the e‐tailer at mild channel competition and reasonable commission rate, while reselling cooperation mode dominates at high channel competition or when the commission rate exceeds a threshold. Interestingly, we find that the manufacturer has generally similar mode preference with the e‐tailer, and they have opposite preferences under the condition of low commission rate and moderate channel competition intensity. More importantly, our results reveal that direct channel cooperation between the manufacturer and third‐party platform harms the e‐tailer's interests, whereas the channel cooperation between the e‐tailer and third‐party platform may increase profits for all supply chain participants. Our study provides valuable insights for e‐tailers, manufacturers and third‐party platforms to make better channel cooperation decisions and achieve successful partnership in online retailing.

AbstractThis study examines the relationship between the labour‐force age structure and industry composition in a multi‐region and multi‐sector framework. Relying on a panel dataset of Chinese provinces, the simultaneous equations model reveals two‐way influences between age and industrial structures. Population aging induces a (an) reduced (increased) secondary‐sector (tertiary‐sector) employment share. The industrial structure then changes the age structure of the local labour force via the migrations of young workers as non‐agricultural sectors expand. With an improved Leslie model, we predict a province‐level population aging and industry structure trend. Accordingly, municipalities, developed coastal provinces and the three northeastern provinces face greater pressure from population aging and a rapid structural, industrial transformation. Further considerations of the 'two‐child policy' via simulation results show that relaxed birth restrictions could slow population aging in some but not all these provinces.