Hello, after reviewing your dialogue, I would like to complement just one remark on the following quote:
This is not unusual. I read SGU 2006 expanded version. On page 22 footnote 10, they did unconstrained OSR as well, finding a similar pattern:
Note the sentence “The associated welfare gain is about one thousandth of one percent…”. I experimented a 3D-diagram of welfare with inputs of \alpha_{\pi} and \alpha_y. The welfare surface is extremely flattened with varying \alpha_{\pi}.
And on page 15, they said:
