02148cas a2200277 a 4500 AALejournalIMF016732 230101c9999 xx r poo 0 0eng d 5.00 USD 9781484307700 1018-5941 BD-DhAAL BD-DhAAL Buffie, Edward. Macroeconomic Dimensions of Public-Private Partnerships / Edward Buffie, Michele Andreolli, Bin Grace Li, Luis-Felipe Zanna. Washington, D.C. : International Monetary Fund, 2016. 1 online resource (49 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students The voluminous literature comparing public-private partnerships (P3s) and own-investment (OI) by the public sector is dominated by contributions from microeconomic theory. This paper gives macroeconomics a voice in the debate by investigating the repercussions of P3 vs. OI in a dynamic general equilibrium model featuring private capital accumulation and involuntary unemployment with efficiency wages. Typically P3s cost more but produce higher-quality infrastructure and boast a better on-time completion record than OI; consequently, they are comparatively more effective in reducing underinvestment in private capital, underinvestment in infrastructure, unemployment and poverty. The asymmetric impact on macro externalities raises the social return in the P3 2 - 9 percentage points relative to the social return to OI, depending on whether the externalities operate singly or in combination and on whether P3 enjoys an advantage in speed of construction. Mode of access: Internet Andreolli, Michele. Li, Bin Grace. Zanna, Luis-Felipe. IMF Working Papers; Working Paper ; No. 2016/078 Full text available on IMF http://elibrary.imf.org/view/journals/001/2016/078/001.2016.issue-078-en.xml IMF e-Library