Thanks for your help, Artur! I appreciate this a lot. > Some while ago their was already a thread on standadizing IRFs. Please have > a look on this in the archive. I saw this thread (http://lists.wfu.edu/pipermail/gretl-users/2013-April/008808.html) from early 2013 that addresses a similar question. The approach is comparable to what I had in mind, but I am still confused why there is a difference between the response of my shocked variable to a shock in itself in period 1 (period 0 in the graphs) and the SE I calculate manually as 1 SD / SQRT(no. of observations) from the summary statistics. The former is 0.0155, the latter is 0.4826 / SQRT(194) = 0.0347 (all figures rounded for convenience). Any advice would be appreciated.