I want to replicate the SGU model in dynare. There are many post about this topic and the codes are replicated in github.com/JohannesPfeifer/DSGE … 116505323a . But I can´t understand why capital is with a lag in dynares but in SGU model not. For example the product dynamic is write in SGU like (y) =(a)((k)^alpha)((h)^(1-alpha)) but in dynare is exp(y) = exp(a)(exp(k(-1))^alpha)(exp(h)^(1-alpha)). Why the time of the capital is different?