Ramsey Policy vs. Taylor rule

[HelloDynare]

For example, you may have a look at the computation of \Delta^{con} in

Questions on Ramsey welfare in Dynare 4.7

Hello everyone, I would like to ask questions related with welfare calculation under the optimal policy. My computation basically follows this paper: Let me summarize the main steps: Suppose we have a separable utility function: W_t =\displaystyle \mathbb{E}_t\sum^{\infty}_{j=0}\beta^j\left[\frac{{C_{t+j}}^{1-\sigma}}{1-\sigma}-\chi \frac{{N_{t+j}}^{1+\phi}}{1+\phi}\right]. Specifically, in the baseline Competitive Equilibrium (CE) case, we define the conditional welfare: W^b_t = W^{Cb}_…