Dear Dynare users,

I have a, certainly silly question about the interpretation of IRFs.

I have a non-linear model calibrated at a quarterly frequency and solved non-linearly with simul. I would like to simulate a series of shocks (Gas price and cost-push shock) in order to match a given annual GDP decrease.

Let’s say I want to calibrate the shocks in order to match an annual GDP drop of 2%:

-is my target reached if the % deviation is 2% after four quarters?

-or is my target reached if I annualize the % percentage deviation, and the % deviation in the first period is 2%?

-or should I directly annualize the variable in the .mod file?

I hope, I have been clear.

Thanks in advance