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No, Dynare by default does linearization, not log-linearizations. That’s why you need to do something if you want to have logs.
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If you have
exp(z)
, thenz
is already in logs. There is no point in adding anotherexp
. -
Generally, I recommend appending auxiliary equations with logged variables instead of doing a full
exp
-substitution. See Question about understanding irfs in dynare - #4 by jpfeifer