Problem in the IRFs of the Carlstrom & Fuerst 1997 Model

Hi everybody,
I have used the following code to replicate the IRFs in Carlstrom & Fuerst 1997 Model, but I find that when facing a wealth shock, the IRFs graph did no present a hump-shape graph as in the paper, what’s wrong? Can someone give me a hint?

CF97.mod (3.1 KB)

You are misreading the figures. The original paper also reports an immediate jump without hump. But it connects the 0 in the pre-shock period with the actual IRF so that it may appear like a hump.

Thanks a lot! You really help me!