diff --git a/matlab/optimization/dynare_minimize_objective.m b/matlab/optimization/dynare_minimize_objective.m
index 740534d56..18e19c7a3 100644
--- a/matlab/optimization/dynare_minimize_objective.m
+++ b/matlab/optimization/dynare_minimize_objective.m
@@ -70,21 +70,37 @@ switch minimizer_algorithm
         error('Optimization algorithm 1 requires the Optimization Toolbox')
     end
     % Set default optimization options for fmincon.
-    optim_options = optimoptions('fmincon','display','iter', 'MaxFunEvals',100000, 'TolFun',1e-8, 'TolX',1e-6);
+    if ~isoctave
+        optim_options = optimoptions('fmincon','display','iter', 'MaxFunEvals',100000, 'TolFun',1e-8, 'TolX',1e-6);
+    else
+        optim_options = optimset('display','iter', 'MaxFunEvals',100000, 'TolFun',1e-8, 'TolX',1e-6);
+    end
     if isoctave
         % Under Octave, use the active-set (i.e. octave_sqp of nonlin_min)
         % algorithm. On a simple example (fs2000.mod), the default algorithm
         % is not able to even move away from the initial point.
-        optim_options = optimoptions(optim_options, 'Algorithm','active-set');
+        optim_options = optimset(optim_options, 'Algorithm','active-set');
     end
     if options_.analytic_derivation || (isfield(options_,'mom') && options_.mom.analytic_jacobian==1)
-        optim_options = optimoptions(optim_options,'GradObj','on','TolX',1e-7); %alter default TolX
+        if ~isoctave
+            optim_options = optimoptions(optim_options,'GradObj','on','TolX',1e-7); %alter default TolX
+        else
+            optim_options = optimset('GradObj','on','TolX',1e-7);
+        end
     end
     if ~isempty(options_.optim_opt)
-        eval(['optim_options = optimoptions(optim_options,' options_.optim_opt ');']);
+        if ~isoctave
+            eval(['optim_options = optimoptions(optim_options,' options_.optim_opt ');']);
+        else
+            eval(['optim_options = optimset(optim_options,' options_.optim_opt ');']);
+        end
     end
     if options_.silent_optimizer
-        optim_options = optimoptions(optim_options,'display','off');
+        if ~isoctave
+            optim_options = optimoptions(optim_options,'display','off');
+        else
+            optim_options = optimset(optim_options,'display','off');            
+        end
     end
     if options_.analytic_derivation || (isfield(options_,'mom') && options_.mom.analytic_jacobian==1) %use wrapper
         func = @(x) analytic_gradient_wrapper(x,objective_function,varargin{:});
@@ -168,19 +184,32 @@ switch minimizer_algorithm
         error('Optimization algorithm 3 requires the Optimization Toolbox')
     end
     % Set default optimization options for fminunc.
-    optim_options = optimoptions('fminunc','display','iter','MaxFunEvals',100000,'TolFun',1e-8,'TolX',1e-6);
+    if ~isoctave
+        optim_options = optimoptions('fminunc','display','iter','MaxFunEvals',100000,'TolFun',1e-8,'TolX',1e-6);
+    else
+        optim_options = optimset('display','iter','MaxFunEvals',100000,'TolFun',1e-8,'TolX',1e-6);
+    end
     if ~isempty(options_.optim_opt)
-        eval(['optim_options = optimoptions(optim_options,' options_.optim_opt ');']);
+        if ~isoctave
+            eval(['optim_options = optimoptions(optim_options,' options_.optim_opt ');']);
+        else
+             eval(['optim_options = optimset(optim_options,' options_.optim_opt ');']);
+        end
     end
     if options_.silent_optimizer
-        optim_options = optimoptions(optim_options,'display','off');
+        if ~isoctave
+            optim_options = optimoptions(optim_options,'display','off');
+        else
+            optim_options = optimset(optim_options,'display','off');            
+        end
     end
     if options_.analytic_derivation || (isfield(options_,'mom') && options_.mom.analytic_jacobian==1)
-        optim_options = optimoptions(optim_options,'GradObj','on');
         if ~isoctave
+            optim_options = optimoptions(optim_options,'GradObj','on');
             func = @(x) analytic_gradient_wrapper(x,objective_function,varargin{:});
             [opt_par_values,fval,exitflag] = fminunc(func,start_par_value,optim_options);
         else
+            optim_options = optimset(optim_options,'display','off');
             % Under Octave, use a wrapper, since fminunc() does not have a 4th arg
             func = @(x) analytic_gradient_wrapper(x,objective_function,varargin{:});
             [opt_par_values,fval,exitflag] = fminunc(func,start_par_value,optim_options);
@@ -507,9 +536,17 @@ switch minimizer_algorithm
     elseif ~isoctave && ~user_has_matlab_license('optimization_toolbox')
         error('Option mode_compute=13 requires the Optimization Toolbox')
     end
-    optim_options = optimoptions('lsqnonlin','display','iter','MaxFunEvals',5000,'MaxIter',5000,'TolFun',1e-6,'TolX',1e-6);
+    if ~isoctave
+        optim_options = optimoptions('lsqnonlin','display','iter','MaxFunEvals',5000,'MaxIter',5000,'TolFun',1e-6,'TolX',1e-6);
+    else
+        optim_options = optimset('display','iter','MaxFunEvals',5000,'MaxIter',5000,'TolFun',1e-6,'TolX',1e-6);
+    end
     if ~isempty(options_.optim_opt)
-        eval(['optim_options = optimoptions(optim_options,' options_.optim_opt ');']);
+        if ~isoctave
+            eval(['optim_options = optimoptions(optim_options,' options_.optim_opt ');']);
+        else
+            eval(['optim_options = optimset(optim_options,' options_.optim_opt ');']);
+        end
     end
     if options_.silent_optimizer
         optim_options.Display='off';
@@ -567,12 +604,24 @@ switch minimizer_algorithm
         error('Optimization algorithm 2 requires the Global Optimization Toolbox')
     end
     % Set default optimization options for simulannealbnd.
-    optim_options = optimoptions('simulannealbnd','display','iter','TolFun',1e-8);
+    if ~isoctave
+        optim_options = optimoptions('simulannealbnd','display','iter','TolFun',1e-8);
+    else
+        optim_options = saoptimset('display','iter','TolFun',1e-8);
+    end
     if ~isempty(options_.optim_opt)
-        eval(['optim_options = optimoptions(optim_options,' options_.optim_opt ');']);
+        if ~isoctave
+            eval(['optim_options = optimoptions(optim_options,' options_.optim_opt ');']);
+        else
+            eval(['optim_options = saoptimset(optim_options,' options_.optim_opt ');']);
+        end
     end
     if options_.silent_optimizer
-        optim_options = optimoptions(optim_options,'display','off');
+        if ~isoctave
+            optim_options = optimoptions(optim_options,'display','off');
+        else
+            optim_options = saoptimset(optim_options,'display','off');
+        end
     end
     func = @(x)objective_function(x,varargin{:});
     [opt_par_values,fval,exitflag,output] = simulannealbnd(func,start_par_value,bounds(:,1),bounds(:,2),optim_options);