diff --git a/matlab/dyn_waitbar.m b/matlab/dyn_waitbar.m
new file mode 100644
index 000000000..0a8ddd16a
--- /dev/null
+++ b/matlab/dyn_waitbar.m
@@ -0,0 +1,62 @@
+function h = dyn_waitbar(prctdone, varargin)
+% h = dyn_waitbar(prctdone, varargin)
+% adaptive waitbar, producing console mode waitbars with 
+% octave and when console_mode=1
+
+%
+% Copyright (C) 2011 Dynare Team
+%
+% This file is part of Dynare.
+%
+% Dynare is free software: you can redistribute it and/or modify
+% it under the terms of the GNU General Public License as published by
+% the Free Software Foundation, either version 3 of the License, or
+% (at your option) any later version.
+%
+% Dynare is distributed in the hope that it will be useful,
+% but WITHOUT ANY WARRANTY; without even the implied warranty of
+% MERCHANTABILITY or FITNESS FOR A PARTICULAR PURPOSE.  See the
+% GNU General Public License for more details.
+%
+% You should have received a copy of the GNU General Public License
+% along with Dynare.  If not, see <http://www.gnu.org/licenses/>.
+global options_
+persistent running_text newString
+
+if prctdone==0,
+    init=1;
+else
+    init=0;
+end
+
+if exist('OCTAVE_VERSION') || options_.console_mode,
+    
+    if nargout,
+        h=[];
+    end
+    
+    if init,
+        diary off;
+        running_text = varargin{1};
+        newString='';
+        return;
+    elseif nargin>2,
+        running_text =  varargin{2};
+    end
+    
+    if exist('OCTAVE_VERSION'),
+        printf([running_text,' %3.f%% done\r'], prctdone*100);
+    else
+        s0=repmat('\b',1,length(newString));
+        newString=sprintf([running_text,' %3.f%% done'], prctdone*100);
+        fprintf([s0,'%s'],newString);
+    end
+    
+else
+    if nargout,
+        h = waitbar(prctdone,varargin{:});
+    else
+        waitbar(prctdone,varargin{:});
+    end
+end
+
diff --git a/matlab/dyn_waitbar_close.m b/matlab/dyn_waitbar_close.m
new file mode 100644
index 000000000..244f6c08e
--- /dev/null
+++ b/matlab/dyn_waitbar_close.m
@@ -0,0 +1,31 @@
+function dyn_waitbar_close(h)
+% h = dyn_waitbar_close(h)
+% adaptive close waitbar, compatible with 
+% octave and when console_mode=1
+
+%
+% Copyright (C) 2011 Dynare Team
+%
+% This file is part of Dynare.
+%
+% Dynare is free software: you can redistribute it and/or modify
+% it under the terms of the GNU General Public License as published by
+% the Free Software Foundation, either version 3 of the License, or
+% (at your option) any later version.
+%
+% Dynare is distributed in the hope that it will be useful,
+% but WITHOUT ANY WARRANTY; without even the implied warranty of
+% MERCHANTABILITY or FITNESS FOR A PARTICULAR PURPOSE.  See the
+% GNU General Public License for more details.
+%
+% You should have received a copy of the GNU General Public License
+% along with Dynare.  If not, see <http://www.gnu.org/licenses/>.
+global options_
+
+if exist('OCTAVE_VERSION') || options_.console_mode,
+    clear dyn_waitbar;
+    diary on,
+    fprintf('\n');
+else
+    close(h),
+end