# Compute the RAMSEY and Bayesian estimation

Hallo everyone

First time, I use dynare to conduct optimal monetary policy in Dynare. So I would have a question about optimal monetary policy as following

as far as I know that to compute the Ramsey optimal monetary policy we have to remove the
Taylor rule from the baseline model. This procedure is correct as long as all model parameters are calibrated.

But now I would estimate all model parameters with bayesian technique and then compute the Ramsey optimal monetary policy.

How can I do that? since to compute the Ramsey optimal monetary policy we have to remove the Taylor rule from the baseline model, then I cannot calculate the steady state as the model is incomplete due to missing the taylor rule?

can anyone help me how to compute the ramsey optimal monetary policy with all model parameters estimated by Bayesian technique in Dynare?

I just now to to compute the Ramsey optimal monetary policy given that all model parameters calibrated

Thanky you so much at all

Best wishes

Estimation under Ramsey is still experimental. You must invoke `ramsey_model` before `estimation`. If your model runs under `ramsey_policy`, you should be able to estimate it. The steady state computation must follow the standard Ramsey approach: you have to provide a conditional steady state file, i.e. conditional on the instrument, all other steady state values must be provided.