The Coordination Research Of Macroeconomic Policy Choice And PPP Model

Infrastructure construction can provide a good foundation for the normal and efficient operation of the economy.Its perfection will affect the economic and social development of a country directly.With the increasing demand for infrastructure financing,the shortage of government funds become obviously.In order to relieve financial pressure and improve the infrastructure construction efficiency,PPP mode of public infrastructure was born.Foreign experience shows that PPP mode can effectively relieve financial pressure and improve infrastructure construction and construction level.In recent years,the development speed of PPP in China has also been accelerated,the number of PPP warehousing projects has increased and the landing speed has been accelerated.However,the current development of PPP in China is not perfect,the relevant laws and regulations need to be refined,the spirit of cooperation between the two parties needs to be strengthened,and the problem of project risk sharing needs to be further determined.So,the PPP model in our country needs more theoretical research and empirical evidence to support the cooperation of government and social capital,and it has practical significance to study the effect and mechanism of government and social capital cooperation on macro-economy.This paper establishes a new Keynesian DSGE model which embodies the PPP model from the reality of China under the framework of New Keynesianism,analyzes the coordination of macroeconomic polices and the macroeconomic fluctuations with the impact of the PPP mode.It is found that the positive private investment impact can promote the employment,economic growth and restrain the inflation in the public project construction under the PPP model,and can reduce the government's debt burden.The result is suitable with the original intent of the PPP model in infrastructure.In addition,through the study of the comparison of the PPP mode and the normal mode,although the macroeconomic system does not have the PPP effect on the demand shocks,supply shocks,monetary policy shocks and fiscal policy shocks,the PPP model has a significant "expander" effect on the response to shocks.This shows that the cooperation between PPP and macroeconomic policies is better,and the effect of traditional macroeconomic policies is more obvious.Therefore,under the multiple economic model,the public-private partnership in the promotion and development of public projects will help increase the regulation and control of macroeconomic policies.