Deviation size of response variables (percentage) to a shock

[playa_b]

Hi there,
I have a question regarding the Dynare output. If I run a log-linearized model (linearized by hand - with the model instruction model(linear)), how do I interpret the sizes of the response variables to the shock? It should be log-deviations from steady-state, e.g. approximatively percentage growth rates. If I shock the model with for example: var e; stderr 0.01; and I get a series for a variable like 0, 0.004, 0.001... how big are these rates in percentage deviations? Do I have to multiply them by 100 to get percentage points?? In this case is it 0.004 percent or 0.4 percent?
Thank you for your help.
Greetz Björn

[otb]

yes, everything is relative to the st. deviation of the shock. so in your example, 1% shock leads to 0.4% change in the variable.

[kwaner]

Just to add:

Do I interpret the shock size which is 0.01 to be 1% of the s.d. of the shock?

[SébastienVillemot]

Beware!

By default, the IRFs are level deviations from steady state.

The behavior described by otb is only present if you put the "relative_irf" option.