Abstract:The realization of long-term optimal stability of macro-economy needs close collocation between monetary policy and macro-prudential management. Based on implanting the "binary" enterprises, government debt and the price based monetary policy into the dynamic stochastic general equilibrium (DSGE) models including such six departments as family, enterprise (state-owned enterprise and non-state-owned enterprise), commercial banks, monetary policy department, macro-prudential management department and government, this article studies how to realize the effective coordination between monetary policy and macro-prudential management under the technological shock and financial shock. The results show that: (1)when the market suffers from technological shock, monetary policy can be only used, and need not distinguish between state-owned enterprises and non-state-owned enterprises, that is, independent use of monetary policy is to maintain macro-economic stability; (2)after joining macro-prudential management, in the face of state-owned enterprise’s technological shock, monetary policy can be used independently to maintain the stability of the economy and financial system, when the market faces the non-state-owned enterprise’s technological shock, monetary policy can be used independently to maintain the stability of the economic system in the long run, but if the market needs to improve the financial system, macro-prudential management can be cooperated; (3)when the market faces the financial shock, monetary policy and macro-prudential management acting in the same time can help to maintain stability of the economy and financial system.