diff --git a/matlab/annualized_shock_decomposition.m b/matlab/annualized_shock_decomposition.m
index 5e0acf849..03b5feb44 100644
--- a/matlab/annualized_shock_decomposition.m
+++ b/matlab/annualized_shock_decomposition.m
@@ -158,7 +158,7 @@ if realtime_ && isstruct(oo_) && isfield(oo_, 'realtime_shock_decomposition')
         myopts.plot_shock_decomp.realtime=1;
         myopts.plot_shock_decomp.vintage=i;
         % retrieve quarterly shock decomp
-        z = plot_shock_decomposition(M_,oo_,myopts,[]);
+        [z, ~] = plot_shock_decomposition(M_,oo_,myopts,[]);
         zdim = size(z);
         z = z(i_var,:,:);
         if isstruct(aux)
@@ -185,7 +185,7 @@ if realtime_ && isstruct(oo_) && isfield(oo_, 'realtime_shock_decomposition')
             if qvintage_>i-4 && qvintage_<i
                 myopts.plot_shock_decomp.vintage=qvintage_;
                 % retrieve quarterly shock decomp
-                z = plot_shock_decomposition(M_,oo_,myopts,[]);
+                [z, ~] = plot_shock_decomposition(M_,oo_,myopts,[]);
                 z(:,:,end+1:zdim(3))=nan; % fill with nan's remaining time points to reach Q4
                 z = z(i_var,:,:);
                 if isstruct(aux)
diff --git a/matlab/plot_shock_decomposition.m b/matlab/plot_shock_decomposition.m
index 7cb5e04be..7d3cb342a 100644
--- a/matlab/plot_shock_decomposition.m
+++ b/matlab/plot_shock_decomposition.m
@@ -1,4 +1,4 @@
-function [z, steady_state] = plot_shock_decomposition(M_,oo_,options_,varlist)
+function [out, steady_state] = plot_shock_decomposition(M_,oo_,options_,varlist)
 % function plot_shock_decomposition(M_,oo_,options_,varlist)
 % Plots the results of shock_decomposition
 %
@@ -32,6 +32,9 @@ options0 = evalin('base','options_'); % this is to store in global options the i
 options_.nodisplay = options_.plot_shock_decomp.nodisplay;
 options_.graph_format = options_.plot_shock_decomp.graph_format;
 
+if nargout ==1
+    out=oo_;
+end
 % indices of endogenous variables
 exist_varlist = 1;
 if size(varlist,1) == 0
@@ -491,8 +494,8 @@ if steadystate
     options_.plot_shock_decomp.steady_state=steady_state;
 end
 
-if nargout
-    z=z(i_var,:,:);
+if nargout == 2
+    out=z(i_var,:,:);
     steady_state = steady_state(i_var);
     return
 end