Interpretation of IRFs

Hi, I have a basic question. When the model is expressed in levels, how do we interpret the IRFs. I am attaching some IRFs. Would appreciate if somebody could help interpret the IRFs.EPSM_3


Thank you! This is really helpful.

I had IRFs like this in a fairly large model, and I taught there is probably a mistake somewhere. But maybe, my model is fine. I will check though.