diff --git a/.gitlab-ci.yml b/.gitlab-ci.yml
index 9afbcd507bebcc959e6c08e9f20fba5c685888c4..f854f074e8514cb397f69a660e34e59c3c12ec5d 100644
--- a/.gitlab-ci.yml
+++ b/.gitlab-ci.yml
@@ -10,12 +10,12 @@ variables:
 # - if VERSION was already set (when manually running a pipeline), use it
 # - if we are in the official Dynare repository:
 #   + if on a tag: use the tag
-#   + if on master: use 4.7-unstable-$TIMESTAMP-$COMMIT
+#   + if on master: use 4.8-unstable-$TIMESTAMP-$COMMIT
 #   + on another branch: use $BRANCH-$TIMESTAMP-$COMMIT
 # - if in a personal repository: use $USER-$TIMESTAMP-$COMMIT
 before_script:
   - '[[ -z $VERSION ]] && [[ $CI_PROJECT_NAMESPACE == Dynare ]] && [[ -n $CI_COMMIT_TAG ]] && export VERSION=$CI_COMMIT_TAG'
-  - '[[ -z $VERSION ]] && [[ $CI_PROJECT_NAMESPACE == Dynare ]] && [[ $CI_COMMIT_REF_NAME == master ]] && export VERSION=4.7-unstable-$(date +%F-%H%M)-$CI_COMMIT_SHORT_SHA'
+  - '[[ -z $VERSION ]] && [[ $CI_PROJECT_NAMESPACE == Dynare ]] && [[ $CI_COMMIT_REF_NAME == master ]] && export VERSION=4.8-unstable-$(date +%F-%H%M)-$CI_COMMIT_SHORT_SHA'
   - '[[ -z $VERSION ]] && [[ $CI_PROJECT_NAMESPACE == Dynare ]] && export VERSION=$CI_COMMIT_REF_NAME-$(date +%F-%H%M)-$CI_COMMIT_SHORT_SHA'
   - '[[ -z $VERSION ]] && export VERSION=$CI_PROJECT_NAMESPACE-$(date +%F-%H%M)-$CI_COMMIT_SHORT_SHA'
 
diff --git a/configure.ac b/configure.ac
index 0dbae033b8398f17ff0f61ef3d75d4e1d4d50ff7..edcedb260f23fff0d544f6da339c7aa938afdc76 100644
--- a/configure.ac
+++ b/configure.ac
@@ -1,6 +1,6 @@
 dnl Process this file with autoconf to produce a configure script.
 
-dnl Copyright © 2009-2019 Dynare Team
+dnl Copyright © 2009-2021 Dynare Team
 dnl
 dnl This file is part of Dynare.
 dnl
@@ -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-unstable])
+AC_INIT([dynare], [4.8-unstable])
 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 e81dd217e00fa6dd30364660137ee163f41c9556..e838708a2b8b401495f4df15dbe9ab4599ec6b04 100644
--- a/mex/build/matlab/configure.ac
+++ b/mex/build/matlab/configure.ac
@@ -1,6 +1,6 @@
 dnl Process this file with autoconf to produce a configure script.
 
-dnl Copyright © 2009-2020 Dynare Team
+dnl Copyright © 2009-2021 Dynare Team
 dnl
 dnl This file is part of Dynare.
 dnl
@@ -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-unstable])
+AC_INIT([dynare], [4.8-unstable])
 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 4ac67e6668775ad0df7dc37303e14465a3213a33..6a38305d059ec92d3a28ffa40cfdc03ff0dfbf90 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-unstable])
+AC_INIT([dynare], [4.8-unstable])
 AC_CONFIG_SRCDIR([configure.ac])
 AM_INIT_AUTOMAKE([-Wall -Wno-portability foreign])
 
diff --git a/preprocessor b/preprocessor
index bb19d98712f2599380dfc704f98b33531d7414de..f0c39b461e8307292ae73df702897424f07cea8d 160000
--- a/preprocessor
+++ b/preprocessor
@@ -1 +1 @@
-Subproject commit bb19d98712f2599380dfc704f98b33531d7414de
+Subproject commit f0c39b461e8307292ae73df702897424f07cea8d