Shock to standard deviation

General DSGE Modeling
7

Mostly yes. But

  1. You are using a log-log-specification, whose moments do not exist. See Andreasen (2010)
  2. I would recommend against GIRFs. See https://github.com/JohannesPfeifer/DSGE_mod/blob/master/Basu_Bundick_2017/Basu_Bundick_2017.mod for an alternative.