diff --git a/configure.ac b/configure.ac
index c919d5c7d..87375750c 100644
--- a/configure.ac
+++ b/configure.ac
@@ -30,9 +30,9 @@ AC_PROG_CXX
 AC_CANONICAL_HOST
 case ${host_os} in
   *mingw32*)
-    # On mingw32, we don't want dynamic libgcc
-    # Note that static-libstdc++ is only supported since GCC 4.5 (but generates no error on older versions)
-    LDFLAGS="$LDFLAGS -static-libgcc -static-libstdc++ -static-libgfortran"
+    # On Windows, we want Dynare++ to be statically linked
+    AM_LDFLAGS="-static"
+    AC_SUBST([AM_LDFLAGS])
     have_windows="yes"
     ;;
   *cygwin*)
@@ -51,7 +51,8 @@ esac
 # Use C++ for testing headers
 AC_LANG([C++])
 
-CXXFLAGS="$CXXFLAGS -Wall -Wno-parentheses"
+AM_CXXFLAGS="-Wall -Wno-parentheses"
+AC_SUBST([AM_CXXFLAGS])
 
 # If default 'ar' is not available, try to find one with a host prefix (see ticket #145)
 AC_CHECK_PROGS([AR], [ar ${host_alias}-ar])
@@ -125,11 +126,6 @@ AM_CONDITIONAL([HAVE_CWEAVE], [test "x$CWEAVE" != "x"])
 AC_PROG_F77
 AC_F77_LIBRARY_LDFLAGS
 case ${host_os} in
-  *mingw32*)
-    # Hack to get static linking of libgfortran on MinGW
-    # (-static-libgfortran doesn't act on gcc/g++)
-    FLIBS=`echo $FLIBS | sed 's/-lgfortran/-Wl,-Bstatic -lgfortran -Wl,-Bdynamic/'`
-    ;;
   *darwin*)
     # * OS X doesn't need to link against the Fortran libraries because
     #   everything is contained within the vecLib framework.
@@ -144,12 +140,6 @@ fi
 AM_CONDITIONAL([HAVE_BLAS], [test x"$ax_blas_ok" = "xyes"])
 AM_CONDITIONAL([HAVE_LAPACK], [test x"$ax_lapack_ok" = "xyes"])
 
-case ${host_os} in
-  *mingw32*)
-    # Ensure that -lpthread is statically linked under MinGW
-    PTHREAD_LIBS="-Wl,-Bstatic -lpthread -Wl,-Bdynamic"
-    ;;
-esac
 AX_PTHREAD
 
 AC_CONFIG_FILES([Makefile
diff --git a/dynare++/integ/cc/Makefile.am b/dynare++/integ/cc/Makefile.am
index 408e858aa..ef0102ef7 100644
--- a/dynare++/integ/cc/Makefile.am
+++ b/dynare++/integ/cc/Makefile.am
@@ -26,7 +26,7 @@ noinst_LIBRARIES = libinteg.a
 
 libinteg_a_SOURCES = $(CWEBSRC) $(GENERATED_FILES) precalc_quadrature.dat
 libinteg_a_CPPFLAGS = -I../../sylv/cc -I../../tl/cc -I$(top_srcdir)/mex/sources
-libinteg_a_CXXFLAGS = $(PTHREAD_CFLAGS)
+libinteg_a_CXXFLAGS = $(AM_CXXFLAGS) $(PTHREAD_CFLAGS)
 
 BUILT_SOURCES = $(GENERATED_FILES)
 
diff --git a/dynare++/integ/src/Makefile.am b/dynare++/integ/src/Makefile.am
index 39b9dee39..d964d2eff 100644
--- a/dynare++/integ/src/Makefile.am
+++ b/dynare++/integ/src/Makefile.am
@@ -2,5 +2,5 @@ noinst_PROGRAMS = quadrature-points
 
 quadrature_points_SOURCES = quadrature-points.cpp
 quadrature_points_CPPFLAGS = -I../.. -I../../sylv/cc -I../../integ/cc -I../../tl/cc
-quadrature_points_CXXFLAGS = $(PTHREAD_CFLAGS)
+quadrature_points_CXXFLAGS = $(AM_CXXFLAGS) $(PTHREAD_CFLAGS)
 quadrature_points_LDADD = ../cc/libinteg.a ../../tl/cc/libtl.a ../../parser/cc/libparser.a ../../sylv/cc/libsylv.a ../../utils/cc/libutils.a $(LAPACK_LIBS) $(BLAS_LIBS) $(LIBS) $(FLIBS) $(PTHREAD_LIBS)
diff --git a/dynare++/integ/testing/Makefile.am b/dynare++/integ/testing/Makefile.am
index 0814d69a6..c30ef377a 100644
--- a/dynare++/integ/testing/Makefile.am
+++ b/dynare++/integ/testing/Makefile.am
@@ -2,8 +2,8 @@ check_PROGRAMS = tests
 
 tests_SOURCES = tests.cpp
 tests_CPPFLAGS = -I../cc -I../../tl/cc -I../../sylv/cc -I$(top_srcdir)/mex/sources
-tests_CXXFLAGS = $(PTHREAD_CFLAGS)
-tests_LDFLAGS = $(LDFLAGS_MATIO)
+tests_CXXFLAGS = $(AM_CXXFLAGS) $(PTHREAD_CFLAGS)
+tests_LDFLAGS = $(AM_LDFLAGS) $(LDFLAGS_MATIO)
 tests_LDADD = ../../tl/cc/libtl.a ../../sylv/cc/libsylv.a ../cc/libinteg.a $(LAPACK_LIBS) $(BLAS_LIBS) $(LIBS) $(FLIBS) $(PTHREAD_LIBS) $(LIBADD_MATIO)
 
 check-local:
diff --git a/dynare++/kord/Makefile.am b/dynare++/kord/Makefile.am
index 05119d7a4..4ac8d15c6 100644
--- a/dynare++/kord/Makefile.am
+++ b/dynare++/kord/Makefile.am
@@ -54,7 +54,7 @@ noinst_LIBRARIES = libkord.a
 
 libkord_a_SOURCES = $(CWEBSRC) $(GENERATED_FILES)
 libkord_a_CPPFLAGS = -I../sylv/cc -I../tl/cc -I../integ/cc -I$(top_srcdir)/mex/sources $(CPPFLAGS_MATIO)
-libkord_a_CXXFLAGS = $(PTHREAD_CFLAGS)
+libkord_a_CXXFLAGS = $(AM_CXXFLAGS) $(PTHREAD_CFLAGS)
 
 BUILT_SOURCES = $(GENERATED_FILES)
 
@@ -64,8 +64,8 @@ check_PROGRAMS = tests
 
 tests_SOURCES = tests.cpp
 tests_CPPFLAGS = -I../sylv/cc -I../tl/cc -I../integ/cc -I$(top_srcdir)/mex/sources
-tests_CXXFLAGS = $(PTHREAD_CFLAGS)
-tests_LDFLAGS = $(LDFLAGS_MATIO)
+tests_CXXFLAGS = $(AM_CXXFLAGS) $(PTHREAD_CFLAGS)
+tests_LDFLAGS = $(AM_LDFLAGS) $(LDFLAGS_MATIO)
 tests_LDADD = libkord.a ../tl/cc/libtl.a ../sylv/cc/libsylv.a $(LAPACK_LIBS) $(BLAS_LIBS) $(LIBS) $(FLIBS) $(PTHREAD_LIBS) $(LIBADD_MATIO)
 
 check-local:
diff --git a/dynare++/src/Makefile.am b/dynare++/src/Makefile.am
index a95ecee71..126264c34 100644
--- a/dynare++/src/Makefile.am
+++ b/dynare++/src/Makefile.am
@@ -22,9 +22,9 @@ dynare___SOURCES = \
 	$(GENERATED_FILES)
 
 dynare___CPPFLAGS = -I../sylv/cc -I../tl/cc -I../kord -I../integ/cc -I.. -I$(top_srcdir)/mex/sources -DDYNVERSION=\"$(PACKAGE_VERSION)\" $(BOOST_CPPFLAGS) $(CPPFLAGS_MATIO)
-dynare___LDFLAGS = $(LDFLAGS_MATIO) $(BOOST_LDFLAGS)
+dynare___LDFLAGS = $(AM_LDFLAGS) $(LDFLAGS_MATIO) $(BOOST_LDFLAGS)
 dynare___LDADD = ../kord/libkord.a ../integ/cc/libinteg.a ../tl/cc/libtl.a ../parser/cc/libparser.a ../utils/cc/libutils.a ../sylv/cc/libsylv.a $(LIBADD_MATIO) $(noinst_LIBRARIES) $(LAPACK_LIBS) $(BLAS_LIBS) $(LIBS) $(FLIBS) $(PTHREAD_LIBS)
-dynare___CXXFLAGS = $(PTHREAD_CFLAGS)
+dynare___CXXFLAGS = $(AM_CXXFLAGS) $(PTHREAD_CFLAGS)
 
 BUILT_SOURCES = $(GENERATED_FILES)
 EXTRA_DIST = dynglob.lex dynglob.y
diff --git a/dynare++/tl/cc/Makefile.am b/dynare++/tl/cc/Makefile.am
index dde28e45d..1ad9f87f2 100644
--- a/dynare++/tl/cc/Makefile.am
+++ b/dynare++/tl/cc/Makefile.am
@@ -92,7 +92,7 @@ noinst_LIBRARIES = libtl.a
 
 libtl_a_SOURCES = $(CWEBSRC) $(GENERATED_FILES)
 libtl_a_CPPFLAGS = -I../../sylv/cc $(CPPFLAGS_MATIO)
-libtl_a_CXXFLAGS = $(PTHREAD_CFLAGS)
+libtl_a_CXXFLAGS = $(AM_CXXFLAGS) $(PTHREAD_CFLAGS)
 
 BUILT_SOURCES = $(GENERATED_FILES)
 
diff --git a/dynare++/tl/testing/Makefile.am b/dynare++/tl/testing/Makefile.am
index 70b2ff333..9c8b78753 100644
--- a/dynare++/tl/testing/Makefile.am
+++ b/dynare++/tl/testing/Makefile.am
@@ -2,8 +2,8 @@ check_PROGRAMS = tests
 
 tests_SOURCES = factory.cpp factory.h monoms.cpp monoms.h tests.cpp
 tests_CPPFLAGS = -I../cc -I../../sylv/cc
-tests_CXXFLAGS = $(PTHREAD_CFLAGS)
-tests_LDFLAGS = $(LDFLAGS_MATIO)
+tests_CXXFLAGS = $(AM_CXXFLAGS) $(PTHREAD_CFLAGS)
+tests_LDFLAGS = $(AM_LDFLAGS) $(LDFLAGS_MATIO)
 tests_LDADD = ../cc/libtl.a ../../sylv/cc/libsylv.a $(LAPACK_LIBS) $(BLAS_LIBS) $(LIBS) $(FLIBS) $(PTHREAD_LIBS) $(LIBADD_MATIO)
 
 check-local:
diff --git a/m4/ax_matio.m4 b/m4/ax_matio.m4
index 9a2235a80..fa940ecc1 100644
--- a/m4/ax_matio.m4
+++ b/m4/ax_matio.m4
@@ -44,6 +44,8 @@ AC_ARG_WITH(matio, AC_HELP_STRING([--with-matio=DIR], [prefix to MATIO installat
   dnl If detected, libz and libhdf5 are added to LIBS, used for matio test
   LIBS=""
   AC_CHECK_LIB([z], [compress])
+  dnl szip is needed under MSYS2
+  AC_CHECK_LIB([szip], [SZ_Compress])
   AC_CHECK_LIB([hdf5], [H5Fcreate])
 
   AC_CHECK_HEADER([matio.h], [], [has_matio=no])
diff --git a/mex/build/matlab/configure.ac b/mex/build/matlab/configure.ac
index ef87b0fdb..2a3c9b5fd 100644
--- a/mex/build/matlab/configure.ac
+++ b/mex/build/matlab/configure.ac
@@ -66,8 +66,6 @@ AM_PROG_AR
 
 case ${host_os} in
   *mingw32*)
-    # Ensure that -lpthread is statically linked under MinGW
-    PTHREAD_LIBS="-Wl,-Bstatic -lpthread -Wl,-Bdynamic"
     # Kludge for bug in MinGW, that defines __STDC_UTF_16__ but not char16_t
     # This breaks the matrix.h of older MATLABs (e.g. R2009a)
     # Also see <uchar.h>
@@ -94,6 +92,16 @@ AM_CONDITIONAL([HAVE_MATIO], [test "x$has_matio" = "xyes"])
 AX_SLICOT([matlab])
 AM_CONDITIONAL([HAVE_SLICOT], [test "x$has_slicot" = "xyes"])
 
+# On Windows, we want static linking of the external libraries
+case ${host_os} in
+  *mingw32*)
+    PTHREAD_LIBS="-Wl,-Bstatic $PTHREAD_LIBS -Wl,-Bdynamic"
+    GSL_LIBS="-Wl,-Bstatic $GSL_LIBS -Wl,-Bdynamic"
+    LIBADD_MATIO="-Wl,-Bstatic $LIBADD_MATIO -Wl,-Bdynamic"
+    LIBADD_SLICOT="-Wl,-Bstatic $LIBADD_SLICOT -Wl,-Bdynamic"
+    ;;
+esac
+
 AM_CONDITIONAL([DO_SOMETHING], [test "x$ax_enable_matlab" = "xyes" -a "x$ax_matlab_version_ok" = "xyes" -a "x$ax_mexopts_ok" = "xyes"])
 
 if test "x$ax_enable_matlab" = "xyes" -a "x$ax_matlab_version_ok" = "xyes" -a "x$ax_mexopts_ok" = "xyes"; then
diff --git a/preprocessor b/preprocessor
index f223af91a..beb99d98c 160000
--- a/preprocessor
+++ b/preprocessor
@@ -1 +1 @@
-Subproject commit f223af91afaaec5fdaa9224c2386d25d5428eee3
+Subproject commit beb99d98cdda587cc8341e0891e3be6ef6c98d4f
diff --git a/windows/dynare.nsi b/windows/dynare.nsi
index 1ccf77929..7ad7126b7 100644
--- a/windows/dynare.nsi
+++ b/windows/dynare.nsi
@@ -140,7 +140,7 @@ SectionGroupEnd
 
 Section "Dynare++ (standalone executable)"
  SetOutPath $INSTDIR\dynare++
- File ..\dynare++\src\dynare++.exe ..\dynare++\extern\matlab\dynare_simul.m ..\dynare++\*.dll
+ File ..\dynare++\src\dynare++.exe ..\dynare++\extern\matlab\dynare_simul.m
 SectionEnd
 
 Section "Documentation and examples (Dynare and Dynare++)"