# Welfare ranking of monetary/ fiscal rules

**URL:** <https://forum.dynare.org/t/welfare-ranking-of-monetary-fiscal-rules/4467>\
**Category:** Dynare help (legacy posts)\
**Created:** [5 February 2015 22:23 UTC](https://forum.dynare.org/t/welfare-ranking-of-monetary-fiscal-rules/4467 "2015-02-05T22:23:07Z")\
**Posts on this page:** 1\
**Showing post:** 2

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**Author:** ![jpfeifer](https://forum.dynare.org/user_avatar/forum.dynare.org/jpfeifer/32/5044_2.png) [@jpfeifer](https://forum.dynare.org/u/jpfeifer)\
**Post date:** [9 February 2015 13:38 UTC](https://forum.dynare.org/t/welfare-ranking-of-monetary-fiscal-rules/4467/2 "2015-02-09T13:38:55Z")

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You need to define utility recursively and use a second order approximation. See e.g. [[Welfare and volatilty](https://forum.dynare.org/t/welfare-and-volatilty/4472/2))

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