diff --git a/configure.ac b/configure.ac
index b58b4f86b694f442f559e590f2c981db1a73e74d..4522fe04380c2d85f54e9a6c3c208069bfedb430 100644
--- a/configure.ac
+++ b/configure.ac
@@ -18,7 +18,7 @@ dnl You should have received a copy of the GNU General Public License
 dnl along with Dynare.  If not, see <https://www.gnu.org/licenses/>.
 
 AC_PREREQ([2.62])
-AC_INIT([dynare], [4.7.0])
+AC_INIT([dynare], [5.0])
 AC_CONFIG_SRCDIR([preprocessor/src/DynareMain.cc])
 AM_INIT_AUTOMAKE([1.11 -Wall -Wno-portability foreign no-dist-gzip dist-xz tar-pax])
 
diff --git a/mex/build/matlab/configure.ac b/mex/build/matlab/configure.ac
index 97b0eabd4962a5162a1c175588ad091f747c3059..2ff7e67b66ec44382c24a028a9e6e83f58d49cab 100644
--- a/mex/build/matlab/configure.ac
+++ b/mex/build/matlab/configure.ac
@@ -18,7 +18,7 @@ dnl You should have received a copy of the GNU General Public License
 dnl along with Dynare.  If not, see <https://www.gnu.org/licenses/>.
 
 AC_PREREQ([2.62])
-AC_INIT([dynare], [4.7.0])
+AC_INIT([dynare], [5.0])
 AC_CONFIG_SRCDIR([configure.ac])
 AM_INIT_AUTOMAKE([-Wall -Wno-portability foreign])
 
diff --git a/mex/build/octave/configure.ac b/mex/build/octave/configure.ac
index 14ed2fa1f783070da47af0c033687c7995935d00..c569bb46bdd7f08dce3b888b979f581927f5d16a 100644
--- a/mex/build/octave/configure.ac
+++ b/mex/build/octave/configure.ac
@@ -18,7 +18,7 @@ dnl You should have received a copy of the GNU General Public License
 dnl along with Dynare.  If not, see <https://www.gnu.org/licenses/>.
 
 AC_PREREQ([2.62])
-AC_INIT([dynare], [4.7.0])
+AC_INIT([dynare], [5.0])
 AC_CONFIG_SRCDIR([configure.ac])
 AM_INIT_AUTOMAKE([-Wall -Wno-portability foreign])
 
diff --git a/preprocessor b/preprocessor
index 1341963d321c36b39864c157b6cb25e555dc63ff..4deb397d18b97d3c61735745a304083e0e48deaa 160000
--- a/preprocessor
+++ b/preprocessor
@@ -1 +1 @@
-Subproject commit 1341963d321c36b39864c157b6cb25e555dc63ff
+Subproject commit 4deb397d18b97d3c61735745a304083e0e48deaa